Jack Ma: Wealthiest Chinese Man

According to Forbes, Alibaba Founder Jack Ma has overtaken Chinese property magnate Wang Jianlin to become the wealthiest person in China. Forbes estimates that Ma’s fortune is worth US$30.9 billion, which is slightly higher than Wang’s estimated US$30.7 billion fortune. Ma’s fortune increased significantly this year thanks to higher profits and share prices. After being rejected from Harvard University 10 times, Ma founded Alibaba just over 16 years ago. The company has since grown immensely and is now world’s largest e-commerce platform with a market capitalization of more than US$246 billion. Alibaba recently announced plans to diversify its business and will invest heavily in the digital world. This will include a US$145 million investment into mobile game distribution.

Shanghai Business Review is the leading English language website and print magazine for business leaders conducting business in China.

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