Alibaba Director Jack Ma Retires
The illustrious and self made Chinese billionaire has shocked the world by his retirement announcement.
Jack Ma was born to a very poor family grew up to become the most respected and richest businessman in China. He founded the AliBaba website in 1999 for his apartment. It became the world’s largest internet company. Since then Alibaba started many different businesses and is now worth $480 billion. Last year, Forbes magazine said that he was the richest man in China and has a net worth of $39 billion.
Last year, he shocked the entire business community by announcing his retirement. Jack Ma said that he wants to retire to relax and take part in charity activities. On 10th September tuesday was his 55th birthday and he officially retired and named Daniel Zhang the be the company’s new Director. Many people all over the world are still in shock and say that no one can replace Jack Ma. People call him the Steve Jobs of China. Jack Ma has retired at the same time when the company is planning to invest in India. Let’s see what is the future of Alibaba.