Jack Ma spent 1.5 billion in Hong Kong to buy a mansion where workers hang banners for wages

It seems that Jack Ma‘s bad luck is still not over. Recently, he has been in the media spotlight again because of the workers hanging banners outside the mansion he bought for HK$1.5 billion in Hong Kong to collect his salary.

The Hong Kong media Apple Daily and Standpoint News reported that yesterday (Feb. 10), about 30 construction site workers as well as the contractor pulled banners outside a mansion Ma bought at the Peak in Hong Kong to collect money owed to him.

The contractor, Chao, said they came last week and the company side interceded, saying they would guarantee money for the New Year, “but it’s after ‘New Year’s Eve’, where is the money?”

The company he refers to is the contractor “Baohua” company, which was contracted for the reconstruction of Ma’s mansion. The company is alleged to have defaulted on more than HK$30 million (about RMB 24.91 million) in payments for the project, including the cost of construction materials and workers’ wages.

Chao said, as a major contractor, “Po Wah” company ignore the lives of workers, from August last year, defaulted on wages, it has been nearly six months, so dozens of workers “no money for the New Year”.

He said that the company had issued a check for HK$ 2.5 million (about RMB 2.07 million) at the end of last month to more than a dozen contractors, but only enough to pay the workers about a month’s salary.

The “Paul Wah” company claimed that the full amount of the project has been collected from the owner, has also been paid to subcontractors, and no arrears.

It is reported that Ma bought the mansion at the Peak in Hong Kong in 2015 for 1.5 billion Hong Kong dollars (about 1.2 billion yuan), which was originally the official residence of the Belgian consul and was purchased by a wealthy couple in 2002 for 160 million Hong Kong dollars (about 133 million yuan), after which it was sold to Ma.

In August 2019, Jack Ma rebuilt a 4-story house on the same site, with a total area of 1,178 square meters, which will be completed soon and has entered the “house inspection” stage.

From the news reported so far, Ma Yun and the payroll incident is not directly related, but for no reason lying shot, was involved in a scandal.

Ma has had a lot of bad luck since he criticized Beijing‘s financial regulations for stifling innovation on the Bund in Shanghai last October. First, the IPO of Ant, which was called the largest IPO in history, was halted, followed by a plunge in the company’s stock price, an antitrust investigation and fine by the authorities, a request by the authorities to rectify the Ant Group, and the blocking of the project of the Yunnan branch of Lakeside University, which he founded.

Ma disappeared from the public eye for a long Time, causing speculation that his situation was worrisome.

On Jan. 20, Ma met with more than 100 rural teachers through a video link.

Some netizens found that Ma, who had disappeared for nearly three months, seemed a little rusty to face the camera again, with his hands folded and looking a little uneasy, and his face was also haggard.

According to a Feb. 10 report by Bloomberg, Ma has been playing at the Sun Valley golf course on Hainan Island in recent weeks.