Jack Ma, the successful Chinese entrepreneur, has been in the news since the last year. The world was already hearing many headlines about him for a long time. Now, there is yet another news about him that is surfacing the internet.
According to reports by the Financial Times, Jack Ma is stepping down as the president of his renowned business school he founded in 2015. However, this update is available from some anonymous sources. Jack Ma himself has not responsed to anything on this subject.
Since the last year, there is an ongoing spat between the Chinese authorities and the Alibaba founder. It all started last year when Jack Ma criticized China’s financial regulators and state-controlled banks. In order to retaliate, Beijing sucked a desirable IPO for Ant Group, the company that is the financial affiliate of Alibaba.
After this incident, Jack Ma went missing for a few months. As a result, many unfortunate speculations were made about his existence. However, his re-appearance shocked everyone and things have not settled between him and the Chinese authorities until now.
Rising Pressure
Now, amid the rising pressure from Beijing, Jack Ma has decided to step down as the president of Hupan University, an elite business school he founded six years ago. Some time ago, this business school also saw the drop in the word “University” from its name.
Since it doesn’t offer any degree to students, Chinese authorities objected to its operations. The instructions are given to the Hangzhou-based business school to restructure its educational curriculum. And the reports highlight that Jack Ma would cease to serve at the top post at this organization after its restructuring.
The reason for all this disturbance is the speculations of the Chinese authorities about the activities at Hupan University. According to some, the Chinese government is not happy with the objectives of Ma’s elite business school. So, it has initiated a strong attack on the operations of the business school.
Jack Ma is not the only Chinese entrepreneur who is bearing the brunt of the actions of the Chinese government. Zhang Yiming ByteDance founder and Colin Huang, founder of Pinduoduo have also announced to step down from their top posts.
Everyone is waiting for Jack Ma to clear his stance on this subject. Reports have said that Jack Ma would continue to associate with his business school by delivering lectures at its premises.
