Jack MA to step down as president of his elite business school

Jack MA Elite business school owner

Jack MA Elite business school owner

Jack MA founded his elite business school six years ago. Jack Ma is willing to step down as president of his own academy, located in his home city in Hangzhou. This came after pressure has been piled on the founder of the e-commerce group Alibaba and his business empire by the Chinese regulators.

Ma, the country’s most noteworthy entrepreneurs, just disappeared from public appearance after giving a speech in October where he criticized regulators and state-owned banks.

“Antitrust regulators fined Alibaba a record $2.8bn fine for monopolistic practices last month, and Ant Group, Ma’s fintech company, has been ordered to shrink its business and restructure since its $37bn initial public offerings were squashed last November.” as FT reported.

The Xiake post said. “‘Hupan University’ is actually a privately run non-business organization, not a degree-granting educational institution,” the post added, noting that “students” who attend such places actually want “to join a group, make connections and get resources.”

Source: FT

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