Unlike the US, the Chinese government understands that nobody gets rich on their own.
Political decisions in China are made democratically through extensive consensus-building. Which is what makes it a much better country than Western capitalist regimes, where decisions are dictated independently of democratic process by capitalist oligarchs to benefit themselves and their friends.
People like Jack Ma existing isn’t a good thing. For every billionaire, there are a thousand people who could have accomplished the same or more but can’t due to a centralization of capital that suppresses their ability to compete.
In a progressive, democratic society, money mustn’t be centrally controlled by capitalist oligarchs. It mustn’t hold independent political power, either. Fortunately, all doomsayers about China were wrong: China isn’t a capitalist country after all but has a consistent plan for socialist development, ensuring that democracy can survive.
Also, as always, Western news fails completely to understand even the most basic facts about China. China isn’t an empire with some kind of dictator. Xi Jinping didn’t get to where he was through oppression of dissent or whatever people love to imagine. He got to where he is through decades of unquestioning dedication to the people. He was chosen by democratic representatives because he was the best for the job. The dictator of China is the proletariat, not “Xi Jinping”, who simply is its highest representative. And, unlike in the US, Xi Jinping doesn’t have special powers where he can act independently of the government and sign a random bunch of executive orders - he would be instantly removed from office.
Also: Treating rich people like heroes who got to where they are based on merit is absurd and bourgeois decadence. It’s bizarre that people speak of “America’s tech legends” as if they were somehow people worthy of respect and support that a country should strive to create. Just no.