On January 8, a mainland media has quoted informed sources as revealing that Jack Ma had successfully fled the country through a St. Kitts passport at the end of December last year, just as people were wondering about his whereabouts.
According to a report by the mainland media “News Headlines” on Jan. 8, sources close to the matter revealed that Ma had left the country through a St. Kitts passport at the end of December. However, the information could not be confirmed.
The report said that Jack Ma has a large amount of personal assets abroad in St. Kitts, and although the country has also joined the CRS (automatic exchange of tax-related information on financial accounts), the local taxes are low or tax-free, and Jack Ma holds a St. Kitts passport, and as a tax resident of the country, his financial account information outside the country does not have to be exchanged back to China, avoiding a large amount of personal tax and asset monitoring in China.
Recently, an anti-monopoly investigation and overhaul of Ma’s business has been quickly launched after Beijing authorities called a halt to Ant Group’s IPO and since Ma and other core Ant Group figures were interviewed en masse by regulators. The Financial Times, citing the latest article from sources familiar with the matter, said on Jan. 8 that Beijing authorities have ordered major media outlets not to report news about Alibaba’s antitrust investigation. The newspaper’s analysis suggests that Ma’s case may be more serious than the corporate consolidation issues seen by the outside world, or may have become a politically sensitive issue for the Communist Party.
In addition, Ma has disappeared from the public eye for 2 months, and there are many different opinions about his whereabouts.