Jack Ma takes a leaf from Bill Gates’s book as he looks to life after Alibaba
A foundation for philanthropy is already in the works — but China’s richest man says he will do one important thing differently from Gates: he will retire earlier
Hong Kong/Beijing — Jack Ma, China’s richest man, is laying the groundwork for a future away from Alibaba, the company he co-founded and turned into an e-commerce juggernaut. In an interview with Bloomberg TV, the Alibaba chairman said he is dedicating more of his time and fortune to philanthropy with the creation of a foundation in his own name focused on education, following in the footsteps of fellow billionaire Bill Gates. Ma, who turns 54 on Monday, has a net worth of more than $40bn, according to the Bloomberg billionaires index. While Ma sees himself as an accidental executive who only entered the business world with Alibaba’s founding almost 20 years ago, he has become one of China’s most recognised corporate leaders. Even after stepping down as CEO in 2013, the former English teacher remains the public face of a company with a market value of more than $400bn and interests spanning e-commerce and Hollywood film production, cloud computing and online payments. "There’s a lot...
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