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Breaking News: Alibaba founder Jack Ma is traveling to Europe after Chinese crackdown on Alibaba

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Jack Ma the founder of Alibaba one the most successful business in the world disappeared after the Chinese Government crackdown on his company Alibaba. Ma the 57 year old billionaire is in Spain, according Hong Kong Alibaba owned South China Morning Post. Ma is abroad for a series of business meetings, including a tour of the agricultural industry and environmental technology in Spain, the post said. This is after the Chinese crackdown made Jack’s company Alibaba lose 780 billion dollars in stock prices to fall down.

Alibaba stock tumbling from 307 to 177

Alibaba has paid a record 2.8 billion dollars in fine to the Chinese communist party of a anti trust fine. Alibaba lost 9.2% of market cap in the Chinese stock market in Wednesday alone. But climbed 30% from earlier this month.

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