Jack Ma is Asia’s wealthiest billionaire.
Ma, the founder of China’s e-commerce juggernaut Alibaba, as well as a runner-up for TIME’s Person of the Year, is worth $28.6 billion, according to Bloomberg Billionaires Index. The 50-year-old is worth about $300 million more than Hong Kong real-estate-and-ports tycoon Li Ka-shing, who had been Asia’s richest person since April 5, 2012.
About half of Ma’s fortune comes from his 6.3% stake of Alibaba. The Hangzhou-based company is larger than Amazon.com and worth about $259 billion.
- How to Help Victims of the Texas School Shooting
- TIME's 100 Most Influential People of 2022
- What the Buffalo Tragedy Has to Do With the Effort to Overturn Roe
- Column: The U.S. Failed Miserably on COVID-19. Canada Shows It Didn't Have to Be That Way
- N.Y. Will Soon Require Businesses to Post Salaries in Job Listings. Here's What Happened When Colorado Did It
- The 46 Most Anticipated Movies of Summer 2022
- ‘We Are in a Moment of Reckoning.’ Amanda Nguyen on Taking the Fight for Sexual Violence Survivors to the U.N.