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alibaba

54 posts

Jack Ma is NOT Missing But ‘Laying Low’, Sources Say

jack ma

Alibaba founder Jack Ma is reportedly “laying low” after suspicions that he has been missing came to light as Chinese regulators continue to crack down on his ever-growing business empire.

The 56-year-old billionaire, who recently slipped to China’s third-richest, was last seen in public in October when he criticized the country’s financial regulatory system at a conference in Shanghai.

Alibaba Founder Jack Ma Donates $14 Million to Develop Coronavirus Vaccine

jack ma

Jack Ma, the co-founder of Alibaba, reportedly donated 100 million yuan ($14.4 million) to help scientists develop a cure for the novel coronavirus (2019-nCoV) that has claimed 170 lives in China.

The 55-year-old entrepreneur donated through the Jack Ma Foundation, designating 40 million yuan ($5.8 million) to two government research organizations with the remaining funds to support “prevention and treatment” measures, according to CNN.

Jack Ma Threw an Epic Birthday Party for 60,000 People for His Retirement

Jack Ma, China’s richest man, stepped down as chairman of the Alibaba Group on Tuesday, the small e-commerce site he built with 17 other people in 1999 which has since become the diverse $460 billion tech empire it is today.

The grand farewell party, which coincided with the tech entrepreneur’s 55th birthday and Alibaba’s 20th anniversary, hosted more than 60,000 employees at the Olympic Sports Center in Hangzhou, the company’s home city in eastern China’s Zhejiang province.

Alibaba Co-Founder to Pay $2.35 Billion to Own the Brooklyn Nets

joseph tsai

Joseph Tsai, the Taiwanese-Canadian co-founder of e-commerce giant Alibaba, is set to become the sole owner of the NBA’s Brooklyn Nets after acquiring the franchise for a total signing deal of $2.35 billion.

The 55-year-old businessman already owns 49% of the team after he bought the share last year for $1 billion. However, unnamed sources told the New York Post that Tsai is now close to signing the deal to buy the remaining 51% from Russian billionaire Mikhail Prokhorov for $1.35 billion.