From a private jet to a vineyard in France, a glimpse of Jack Ma

0
20


Triggering a wave of conspiracy theories, Alibaba founder and Chinese billionaire Jack Ma has reportedly been missing for over two months now. The tech mogul hasn’t made any public appearances since November 2019, and he hasn’t even appeared on the latest episode of his own talent show, Africa’s Business Heroes. Ma’s last tweet was on October 10 of last year. Also Read – Alibaba’s Jack Ma Starts Downsizing, Closes Music App Next Month

Notably, his demise comes after Chinese authorities stepped up control over his business empire, including Alibaba’s subsidiary, Ant Group, after Ma criticized China’s regulatory system last October. As the mystery around its whereabouts deepens, learn more about the tech billionaire.

Who is Jack Ma?

Jack Ma is a Chinese business tycoon and the founder of China’s largest e-commerce company, Alibaba Group Holdings Ltd.

The former English teacher founded the Alibaba Group in 1999, when China had few internet users. The Alipay online payment service was launched five years later, before regulators said such businesses would be permitted. The two long shots have grown to dominate their industries. Ma owns 7.8% stake in Alibaba and 50% stake in Alipay. Ma’s current net worth is estimated at $ 50.9 billion, according to the Bloomberg Billionaires Index.

Its wealth and properties

Despite his supreme wealth, he is not a big spender and splurges primarily in real estate. According to Business Insider, he drives a humble Roewe RX5 SUV that costs just $ 15,000. As for real estate, he bought a house in 2015 in Hong Kong’s most expensive neighborhood for $ 191 million. A year later, he bought a 210-acre vineyard in the south of France and also owns the Lakeside Gardens apartment where he founded Alibaba 20 years ago. He later bought a Gulfstream 550 private jet for $ 49.7, which he uses to travel between properties.

In September 2019, Alibaba rented an Olympic-sized stadium for a big party with 60,000 employees for Ma’s retirement party.

However, his net worth fell by $ 12 billion in just two months after calling regulators too conservative in an Oct. 24 speech and urging them to be more innovative. They put an end to the impending debut of Ant Group, an online financing platform from Alipay. Alibaba’s share price fell, possibly costing Ma his status as China’s richest tycoon.



LEAVE A REPLY

Please enter your comment!
Please enter your name here