Alibaba’s Jack Ma emerges as China’s richest man
HONG KONG – Mr Jack Ma, the 49-year-old founder and chairman of Alibaba Group, is China’s richest person, with a net worth of US$21.8 billion (S$27.2 billion), the Bloomberg news agency reported.
HONG KONG – Mr Jack Ma, the 49-year-old founder and chairman of Alibaba Group, is China’s richest person, with a net worth of US$21.8 billion (S$27.2 billion), the Bloomberg news agency reported.
His assets include a 7.3 per cent interest in China’s largest e-commerce business, which is preparing for what could be the largest initial public offering in US history, and almost half of the parent of Alipay, a separate online-payment service that previously had not been included in his net worth calculation, the report said.
Mr Ma is US$5.5 billion richer than Ma Huateng, the founder of Tencent Holdings, China’s largest Internet company by market value. Mr Robin Li, the founder of search engine Baidu, ranks number 3.
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