Saturday, 13 December 2014

Fact of the Day: Jack Ma's Uber Loaded

China's one-time English teacher is now Asia's richest man
Move over Li Ka-shing -- Alibaba's Jack Ma is now Asia's richest man.

Rather than be sore about the news, the Hong Kong tycoon was happy to see someone else take top spot, a place Li had occupied since 2012 according to the Bloomberg Billionaire Index.

"I am nothing but happy when young people from China do well," said the 86-year-old Li through a spokeswoman. A spokesman from Alibaba refused to comment on Ma's net worth.

According to the Bloomberg ranking, Ma has a fortune of $28.6 billion and his personal worth is $28.3 billion, after his company went public in September, and has surged 54 percent since.

Another interesting fact is that Alibaba's $259 billion market capitalization makes it larger than Amazon and eBay combined.

"The billionaires in China are growing their wealth faster because China's economy is still developing, with plenty of room for growth," said Francis Ying, an analyst with Yuanta Research.

That means Ma's wealth will be expanding much more in the coming future, so he may be Asia's richest man for a while...

1 comment:

  1. Jack Ma will be Asia richest as long as he buries his conscience along with his soul towing the Cowardly PRC party line...

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