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.
More Must-Reads From TIME
- The Real Reason Florida Wants to Ban AP African-American Studies, According to an Architect of the Course
- Column: Tyre Nichols' Killing Is The Result of a Diseased Culture
- Without Evusheld, Immunocompromised People Are on Their Own Against COVID-19
- Here Are All the Movies and TV Shows That Make Up the New DCU
- TikTok's 'De-Influencing' Trend Is Here to Tell You What Stuff You Don't Need to Buy
- Column: America Goes About Juvenile Crime Sentencing All Wrong
- Why Your Tax Refund May Be Lower This Year
- Brazil Wants to Abandon a 34,000-Ton Ship at Sea. It Would be an Environmental Disaster
- The 5 Best New TV Shows Our Critic Watched in January 2023
