Alibaba founder Jack Ma is “hiding” in Tokyo with his family, reports say

Chinese billionaire Jack Ma has been hiding out with his family in central Tokyo for nearly six months after Beijing launched a crackdown on the country’s technology sector, according to reports.

The founder of e-commerce giant Alibaba, once China’s richest man, has rarely appeared in public since criticizing Chinese regulators for their “pawn shop mentality” toward technology companies at a summit in Shanghai two years ago.

His remarks followed a sweeping crackdown by Xi Jinping’s government on the private sector that has seen two of his companies, Ant and Alibaba, face a series of regulatory hurdles. Regulators canceled Ant’s $37 billion initial public offering and fined Alibaba a record $2.8 billion for antitrust abuses.

Following a fallout with the communist government, the 58-year-old appeared in a 48-second alleged “hostage video” spotted during a trip to the Netherlands and on a yacht off the coast of the Spanish island of Majorca in October last year.

He was previously seen in Hong Kong.

His months-long stay in Japan included stays at hot springs and ski resorts in the countryside around Tokyo, as well as regular trips to the United States and Israel, Financial Times reported, citing sources with knowledge of his whereabouts.

In the Japanese capital, Mr. Ma has limited himself to “a small handful of private members’ clubs” in the central districts of Ginza and Marunouchi.

He brought with him his personal chef and security and became an avid collector of modern art.

According to the billionaire’s friends in China, Mr Ma turned to watercolor painting to pass the time after being forced to retreat from his frenetic public life.

He also used his time in Japan to expand his business interests beyond the core e-commerce technologies of Alibaba and Ant, entering the field of sustainability, the report said.

Chinese authorities are poised to fine Ant Group more than $1 billion, Reuters reported, in a move that is expected to bring an end to the fintech firm’s two-year regulatory reform.

The fine against Ant would be the largest regulatory penalty against an internet company in China since the $1.2 billion fine levied by the cybersecurity watchdog against ride-hailing giant Didi Global in July.