What is Jack Ma's net worth? A look at Alibaba founder's fortune as China's richest man goes missing for 2 months
Chinese billionaire and Alibaba founder Jack Ma has reportedly not been seen in public for several weeks, suggesting that he could be missing. Ma was scheduled to appear for the filming of his talent show, 'Africa’s Business Heroes', but was instead replaced by another Alibaba executive. His company stated that the tycoon wasn't able to appear due to a conflict in his schedule.
Jack Ma, who is also a stakeholder at e-payment portal Alipay, Alibaba's sister company, is the richest man in China with an estimated net worth of $58 billion. Moreover, Alibaba is worth more than Facebook and processes more goods than eBay and Amazon combined.
Jack Ma was born in Hangzhou, southeastern China, and was raised along with an elder brother and a younger sister during the rise of communist China and its isolation from the West. His parents were traditional musician-storytellers and they didn’t make enough to be even considered as a middle class during those days. After completing his graduation in Bachelor’s degree in English, worked as an English teacher at Hangzhou Dianzi University with a pay of $12 a month.
According to Celebrity Net Worth, Ma's wealth comprises of his 6.3 percent stake in Alibaba Group Holdings, around 160 million shares, and the online payment service Alipay. Ma also manages Ant Financial, which raised $4.5 billion from investors in a funding round in 2016 for an implied cost of $60 billion, although it may be as high as $75 billion. "Ma also has a 70 percent interest in the Cayman Islands-based company APN. He also controls an additional 35 million shares, worth $3.2 billion, that have been set aside for a non-profit organization called the SymAsia Foundation. In addition to his stake in Alibaba, Jack owns 48.5% of a company called Zheijang Ant Small % Micro Financial which is a holding company for an entity called Alipay. Alipay is essentially China's version of Paypal. Alipay is currently valued at $25 billion, which puts another $12.1 billion into Jack's pockets. When you combine Jack's $12.1 billion Alipay stake with his Alibaba stake, you'll arrive at his total net worth of $44 billion."