Chinese billionaire and founder Alibaba Jack Ma will leave the post of President of the University of GUPAN (Hupen University), the elite business academy, which he founded several years ago. According to Financial Times, the reason is the continuing pressure of the Chinese authorities on the entrepreneur.
According to the publication, the Academy also changed the name and is going to change the educational program. The source of the newspaper said that after the restructuring Ma would no longer occupy any senior positions at school. Earlier in April, the business academy suspended a set of students.
MA founded Hupen University Business School in 2015, following the example of the University of Harvard’s Business School. The training program in it is designed for three years. Among the famous university graduates – President of Taxi Agregator Didi Jean Liu and Founder of the Waterdrop Online Insurance Platform Shen Peng.
Jack MA conflict with the Chinese government began after in October 2020, the entrepreneur criticized the state banks of the PRC. Then he said that they are like pawnshops and brake innovation.
After that, the IPO was not allowed to leave the “daughter” Alibaba – Ant Group. The cause of hostility could be an investigation into the possible beneficiaries of the transaction. Among them were people associated with political clans who are unworthy of the current government. In February, Ant Group and Chinese regulators agreed on the restructuring plan, which will turn the company to financial holding.