> The often-outspoken Jack Ma, Alibaba's founder, recently paid a high price for another public jab at regulators. Days after Ma likened traditional banks to pawnshops and labeled the existing financial regulatory framework an "old people's club," regulators abruptly suspended the roughly $34 billion IPO of Ant Group, an Alibaba spinoff in which Ma is a controlling shareholder.
> ... the order to delay and likely cancel the IPO came from Xi Jinping, China's president.