China’s top business owner has been revealed to be a Communist Party member. Fox News reports:
China’s best-known capitalist and the head of e-commerce giant Alibaba has been revealed to be a member of the Communist Party, the official Party newspaper said on Monday.
Jack Ma’s membership was revealed among the list of 100 other prominent people in China that helped achieve the country’s goal of “reform and opening up,” Reuters reported
It remains unclear what prompted the party to reveal Ma’s political affiliation, but it appears as part of the communist government effort to align the values of the party with the private enterprises.
The head of Alibaba, a company that captured China’s online retail market and is valued at $390 billion, is the richest man in China, whose personal wealth is worth around $35.8 billion, according to Forbes. He announced last September that he will step down as the company’s chairman next year.
The Chinese Communist Party is adapting its economic platform, but will continue being an elitist and totalitarian organization.