Jack Ma’s blunt words appear to have cost him $35 billion
Did his opinion of Chinese banking rub Beijing the wrong way?
Jack Ma is a very busy man. China’s richest man has been busy launching the world’s biggest initial public offering (IPO). He has been busy preparing for Alibaba Group Holding Ltd’s grandest four-day Double Eleven shopping extravaganza. And yet two weeks ago, Ma somehow found the time to opine on China’s banking system at a high-profile financial forum in Shanghai, once again throwing himself into the eye of the storm.