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Sep 10, 2019 at 13:21

Jack Ma Steps Down As Alibaba's Executive Chairman After 20 Years With A $42 Billion Fortune

by Sparsh Mudgal

Jack Ma, a business magnate, politician, philanthropist and investor, has officially retired as Alibaba's chairman, reports NDTV

Source: Business Today

The former English teacher steps down as Executive Chairman of Alibaba Group, China's largest company, amassing a $41.8 billion fortune. 

Source: CNBC

From working out of his own small apartment to becoming an e-commerce mogul, Jack Ma has been instrumental in making his country the world's second largest economy. 

Source: CNBC

Operating one of the largest cloud computing businesses, Ma and his co-founders built a marketplace that amassed close to $460 billion. 

Source: Business Insider

Though Jack Ma was declared Asia's richest man in 2016, Reliance Industries Ltd. Chairman Mukesh Ambani currently holds the title with a $47.4 billion fortune. 

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