Alibaba co-founder and Chairman Jack Ma announces retirement on Newyork Times

Sep 08 2018 11:43 AM
Alibaba co-founder and Chairman Jack Ma announces retirement on Newyork Times

New York: Alibaba co-founder and Chairman Jack Ma shared plans to engage in philanthropic activities after taking retirement from the Chinese e-commerce giant on Monday. Now the world’s richest man is all set to devote his time to spread education, as he told the New York Times in an interview. Ma was an English educator before starting Alibaba in 1999. He established a multibillion-dollar internet colossus, and became one of the world's richest men. He is considered a respected figure in his homeland. His own worth has risen along with that of the company, which was valued at $420.8 billion based on its share price at the close of trade on Friday.

Ma told The New York Times that he plans to take retirement from the company on Monday. He selected this day because he will turn a year old and celebrate his 54th birthday. He referred his departure as "the beginning of an era" rather than an end. He said that he now planned to give over his time and fortune to education. The way he chose to make the declaration of his stepping down was unusual as He announced the same on The New York Times which is blocked in China by Communist Party censors. Worth mention here there was no official statement from Alibaba so far.

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