Jack Ma, China’s Richest Man, Steps Down From $460 Billion Alibaba Empire

His farewell party is taking place in an 80,000-seat stadium.


4 min read


This story originally appeared on Business Insider

Jack Ma, the flamboyant tech personality and the richest man in China, is leaving his $460 billion Alibaba empire 20 years after founding the company.

Ma is stepping down as the chairman of Alibaba Group on Tuesday, his 55th birthday, as part of a  that “if Alibaba wants to find new innovations or trends, this is going to be more difficult than before.”

“For Daniel Zhang,” Liu said, “this will be a big challenge.”