Commentary Alibaba’s Jack Ma and Joseph Tsai apparently can’t afford their own private jets. They had to borrow money from Credit Suisse to get them, despite each having cashed out over $5 billion in stock since 2017. Where’s all that cash gone? Is it even real? Do they keep it in banks for which they have to get Chinese Communist Party (CCP) permission for withdrawals? That is to say, is it really their money, or not? According to Kyle Bass, chief investment officer of Hayman Capital Management, “Tsai and Ma are only billionaires because the CCP says they are. As the world has already witnessed, it can and will change in an instant.” Bass stated that Ma and Tsai’s “need to borrow from western banks to fund their luxurious lifestyle” is a mystery. “It’s entirely possible that any US dollars they harvest through share sales must [be] paid to CCP …
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