Alibaba’s Jack Ma “Step Down to Focus on Charity”
According to The New York Times, China’s richest man, Ma Yun, will resign as executive chairman of the Alibaba e-commerce empire on Monday.
The Wall Street Journal said he will continue to stay on Alibaba’s board of directors but focus on philanthropy in education.
Ma Yun co-founded Alibaba in 1999 and regarded it as one of the world’s largest Internet companies.
It has a market capitalization of more than $400 billion, including online sales, film production, and cloud computing.
In an interview with The Times, Ma said that retirement is not the end of an era but the beginning of an era.
Plus: “I love education.”
According to the 2017 Forbes China Rich List, Ma Yun said earlier this week to Bloomberg Television that he wanted to follow Microsoft’s BILL GATES to establish a personal foundation.
He said: “I can learn a lot from Bill Gates.
I can never be as rich as I am now, but one thing I can do better is to retire early.
I think one day I will go back to teach.
This is something I think I can do much better than being the CEO of Alibaba.
“Mr. Ma’s career began with teaching English at a university in Hangzhou, Zhejiang Province, China.
He and a group of friends began to know Alibaba from the apartment in Hangzhou.