Date
20 September 2017
Alibaba founder Jack Ma has a net worth of US$21.8 billion, according to the Bloomberg Billionaires Index. Photo: Bloomberg
Alibaba founder Jack Ma has a net worth of US$21.8 billion, according to the Bloomberg Billionaires Index. Photo: Bloomberg

Jack Ma is China’s richest person, Bloomberg says

Jack Ma, the founder and chairman of Alibaba Group Holding Ltd., is China’s richest person with a net worth of US$21.8 billion, according to the Bloomberg Billionaires Index.

His assets include a 7.3 percent stake in the country’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, Bloomberg News said.

Ma, 49, is US$5.5 billion richer than Ma Huateng, the founder of internet giant Tencent Holdings Ltd. Robin Li, the founder of search engine Baidu Inc., ranks No. 3 in China.

Alibaba, which plans to sell shares on the New York Stock Exchange in September, may set its IPO value at US$154 billion, the report said, citing analyst estimates. Ma owns 8.8 percent of the company. After subtracting the 1.5 percent controlled by SymAsia Foundation Ltd., his charitable organization, Ma’s interest in the company is valued at US$11.3 billion.

The same analysts said Alibaba’s post-listing valuation could be as much as $200 billion.

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CG

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