Business School founder Alibaba Jacka Ma Hupen University canceled classes for freshmen who had to start in March. The Chinese government was frightened that the billionaire organization turns into a luxury community, dangerous for the authorities, writes Financial Times.
Hupen University is one of the most prestigious educational institutions in the PRC. To get there is almost as difficult as in Harvard. The school read the lectures not only by the MA, but also, for example, the founder of Uber Travis Calanik. “The authorities are confident, Hupen University has the potential to organize Chinese entrepreneurs and target them to achieve the goals set by Jack Ma, and not the Communist Party. This can not be allowed,” said the source of the publication.
To get to school, you need to establish your own company, which for three years pays corporate taxes, has at least 30 employees and at least $ 4.6 million years of annual income.
The conflict between Jack Ma and China’s authorities began last year after the businessman criticized the government policy in the field of digital technology. After that, the authorities blocked the IPO (Exit to the Exchange) of the AT Group’s subsidiary’s financial company, and then forced to transform her business, giving more control to the state.