And now in news that surprises no one, Jack Ma was named China’s richest person, according to Bloomberg’s Billionaire Index.
At 49 years old and with a net worth of over 21.8 billion USD, the chairman and founder of Alibaba Group Ltd shows no signs of relinquishing the title any time soon. Ma is not just raking in the Chinese reminbi, he’s open for US dollars as well—Alibaba has plans to enter US markets with what could be the largest initial public offering in America’s history.
His fat wallet beat out Ma Huateng, owner of Tencent, by 5.5 billion dollars and Robin Li, owner of Baidu, by 6 billion dollars.
One can only assume Ma’s billions come directly from Taobao, Alibaba’s black hole of goods and services, thanks to sales of Picasso paintings and outer space vacations.
By Briel Waxman
[Image via ChinaFile]