Report: DouYu CEO, a Billionaire, Goes Missing

Chen Shaojie, the founder and CEO of the popular gaming live-streaming platform DouYu, has gone missing and has been unreachable for nearly three weeks, according to reports. The 39-year-old CEO has not been seen in public since October, and his colleagues have been unable to contact him. Speculations suggest that his disappearance may be linked to the discovery of pornography and gambling content on the platform, as local media reports indicate that he is being investigated and held by Chinese authorities.

Although there has been no official confirmation of his detention, it is common in China for senior executives to disappear before announcements of investigations against them. DouYu has assured that its business operations remain unaffected and that any significant news or activities will be promptly announced.

Chen Shaojie’s last public appearance was in August during the company’s quarterly earnings conference call. DouYu, often compared to Amazon’s Twitch service, offers interactive live streams of video games on its desktop and mobile apps, allowing users to chat in real-time. The platform went public on the Nasdaq in 2019, raising approximately USD 775 million.

It is worth noting that the CEO’s disappearance comes at a time when China is intensifying its crackdown on perceived immoral content within the industry. The country has launched investigations into various social media platforms and influential figures. Over the years, many prominent financiers and businesspeople in China have faced downfall and legal troubles.

This incident follows similar cases in the country, such as the disappearance of Bao Fan, the Chinese billionaire chairman of China Renaissance investment bank, earlier this year. Bao was reportedly in the custody of the anti-graft agency since his vanishing.

In China, it is not uncommon for business executives to vanish, as authorities can detain suspects for extended periods without charge or access to legal representation. The situation raises concerns about the rule of law and transparency within the country’s legal system.