China: Alibaba founder to resign from business school

Beijing | The Financial Times reported on Monday that Jack Ma will resign as president of the business school he created, while online trading giant Alibaba Group is in the eyes of Chinese authorities.

In the case of the Beijing takeover, the extravagant multi-billionaire has been very prudent since he targeted Alibaba by investigating for suspicion of monopoly practices.

The British newspaper quoted several sources as saying that Hupan University had changed its name and restructured the school curriculum with the aim of training the elite of Chinese businessmen.

According to the Economic Daily, the former English teacher should not be responsible for the new organization of the school, which was founded in 2015 in Hangzhou (East), the headquarters of Alibaba in his city.

The Internet giant has been in the spotlight since Jack Ma made his criticism of regulatory authorities last October.

Alibaba, a leading digital company in China and an example of its success, was fined 2.3 billion euros last month for abusing its dominance – which represents 4% of total turnover. 2019 Business.

Twenty years after founding the iconic e-commerce group in China, Jack Ma retired from Alibaba in 2019 on his 55th birthday, saying he wants to dedicate himself to philanthropic activities, especially in education.

Hupan University and Alibaba did not respond to AFP requests.