China’s Richest & Alibaba Co-Founder Jack Ma retires at 54
The company that he founded in 1999 (and that rivals Amazon for the leadership of the e-commerce sector) has turned Ma into the richest man in China, with a fortune valued at 40,000 million dollars.
Jack Ma, president of the e-commerce giant Alibaba, in addition to China’s richest man, has announced his unexpected retirement from the company he founded in 1999, during an interview published in the New York Times. A day earlier, he had already commented on Bloomberg TV that ” There are many things I can learn from Bill Gates. I will never be so rich, but something I can do better is to retire before. I think one day, soon, I will return to teaching. ”
JackMa Announces Retirement from Alibaba
He has confirmed that when next Monday (coinciding with her 54th birthday), Ma abandons his company’s management (after having ceded the position of executive director five years ago), and after that, his main task will be to dedicate herself to philanthropy through the foundation that directs. Coincidentally, next Monday is also celebrated in China Teacher’s Day, the profession he held before founding Alibaba and lead the first generation of Chinese entrepreneurs who made their fortune thanks to the incorporation of their country to the digital economy.
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Jack Ma, the richest man in China, was happiest when he earned $ 12 a month
Today, Ma has a fortune valued at 40,000 million dollars and is one of the most admired public figures in China, while the company he founded is valued at 420,000 million dollars and not only has the way of buying in the largest market in the world (and pay, through its popular Alipay service), but has risen as the only actor able to stand up to Amazon globally in the e-commerce sector (and, increasingly, , in that of cloud computing). This retreat arrives, possibly at the best time for Ma, with China immersed in a trade war with the US Trump.
But … what will happen to Alibaba? Jack Ma thinks that opens “a new era for the company.” Jackson Wong, an analyst at Huarong International, believes, however, that “his withdrawal will surely affect the image of Alibaba, of which he is an inseparable part.” But this withdrawal will not be absolute: the tycoon will continue to supervise his ‘creature’ from the company’s board of directors.
JackMa’s 10 Rules of Success