Jack Ma, the CEO of e-commerce giant Alibaba announced his retirement from the company this week.
Before stepping down, Ma headed the $460 Billion company that he started more than two decades ago. Notably, the Alibaba story figures as one of the greatest rags to riches story in recent history. Apparently, Ma started the firm with almost nothing way back in 1999. Fortunately, with a strict work ethic and moral compass, the leader brought the company up to become one of the largest corporations in the world. Additionally, Alibaba has gone from a traditional e-Commerce company in 1999 to becoming a global leader in logistics, foodservice and cloud-based services today.
What will Jack Ma do now?
Accordingly, Jack Ma plans to pursue his passion for philanthropy and education. In 2014, he started the Jack Ma Foundation that provides financial and technological support to children. Notably, he plans to beef up the foundation and work to achieve sustainable growth for the poorest of the poor in China and the world. In particular, he mentions that he was inspired by the efforts of couple Bill and Melinda Gates. Apparently, his model would mirror those of the Gates.
With a personal net worth of over $40 Billion, Ma joins the ranks of the world’s richest people. In particular, he trails Bill Gates, and Warren Buffet on the list. Additionally, Ma retains his 6.25% share of Alibaba stocks, hence the man would still earn big money despite the resignation.
Accordingly, Ma effectively stepped down on September 10, Teacher’s Day in China. In essence, folks believe the timing to be relevant towards his philanthropic plans in the future.
In conclusion, Jack Ma leaves a massive group of companies worth $460 Billion. However, the company would seem to be in very good hands given the character and leadership that Ma instilled on to his chiefs.