Jack Ma Net Worth
Jack Ma net worth and salary: Jack Ma is a Chinese businessman who has a net worth of $44 billion. Jack Ma earned his net worth as the founder and CEO of the Alibaba Group. Born in Hangzhou, Zhejiang, China, Jack Ma, also know as Yun Ma, graduated from Hangzhou Teacher's College with a degree in English in the late 80s. He founded China Yellowpages, the first internet company ever established in China, in 1995. He went on to run an information technology company for the Chinese Ministry of Foreign Trade and Commerce. In 1999, Jack Ma founded business-to-business commerce site Alibaba.com. Over the last 15 years, Alibaba has grown exponentially. Today the company is the largest commerce site in the world, bigger than than eBay and Amazon.com combined. The company now has 280 million active customers from over 240 countries who transacted just under $300 billion worth of goods and services between June of 2013 and June 2014. The company currently has six active subsidiaries, including Alibaba.com, Tmall.com, eTao, Alibaba Cloud Computing, Taobao Marketplace, and Yahoo! China. He has been awarded multiple business honors, including being named to Fortune Magazine's "25 Most Powerful People in Asia" list in 2005, and being chosen as Businessweek's "Businessperson of the Year" in 2007.
Net Worth details: Ma's wealth mostly comes from his 6.3 percent stake in Alibaba Group Holdings, roughly 160 million shares, and the online payment service Alipay. Ma also controls Ant Financial, which raised $4.5 billion from investors in a funding round in 2016 for an implied valuation of $60 billion, although it may be as high as $75 billion. He has pledged to dilute his ownership in Ant before their IPO. 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. That makes him the richest person in China, topping the former leader by more than $25 billion.