Beijing (CNN Business)China’s most famous entrepreneur and billionaire has been outed as a card-carrying communist. Jack Ma, founder and executive chairman of Chinese e-commerce juggernaut Alibaba (BABA), with a net worth of more than $30 billion, was identified Monday as a Communist Party member by the People’s Daily, the ruling party’s official newspaper. The 54-year-old was being honored by the Chinese government as one of 100 people who have made “outstanding contributions” to China’s economic transformation in the past four decades. The revelation — for the first time by state-run national media — comes amid rising concerns over the tightening grip on China’s private sector by the Communist Party under President Xi Jinping. “The fact he is ‘outed’ as a party member is significant — it’s speaking to the times,” said Duncan Clark, author of “Alibaba: The House That Jack Ma Built.” Why China’s tech giants are cozying up to the Communist Party Read More “The party is increasingly assertive about its role and people are reaffirming their commitment to the Xi (ideology),” he added. “It’s almost like reading a pledge of allegiance every morning — it’s getting more explicit.” Ma had to deny publicly that he was being forced… Read full this story
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