Jack Ma is stepping down as executive chairman of Alibaba, an internet giant that has ruled the internet business for over two decades worldwide. Alibaba is the China’s most valuable and profitable company with an equity value of about $420bn.
Alibaba has played a big role in attracting world’s attention towards Chinese market as a reckoning force alongside Amazon and eBay, later 2 are pure US based operations.
Jack Ma has a net worth more than $40bn and is considered one of the richest man in the world. Jack Ma told the New York Times, that his retirement was “the beginning of an era”. Jack now wants to focus now on Education.
I Love Education – Jack Ma
According to the South China morning post, Mr Ma will unveil his succession strategy on his 54th birthday.
Also See: Jack Ma, Alibaba founder and his amazing inspirational story