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Jack Ma, the Founder of Ali Baba Named the “God of Wealth” in China

The announcement last Friday by the New York Times of the withdrawal of the founder of Ali Baba, head of the Chinese online trading giant, sounds like a thunderclap.

Jack Ma who finally leaves office in September 2019, at a time when the business climate is deteriorating, with Beijing and state enterprises that are more and more interventionist against private companies.

The Chinese multibillionaire should hand over to the very discreet Daniel Zhang, the current general manager of the company.

Although he will continue to advise the group, Jack Ma said he “will spend more time and money focusing on education.”

Last Friday, Mail News International, Alibaba founded in 1999, weighed about 420 billion dollars (about 360 billion euros) in market capitalization on the Wall Street Stock Exchange in New York.

The former English professor, the 19th fortune in the world according to the Bloomberg news agency, with 40 billion dollars (about 35 billion euros), Mr. Ma will have left indelible footprints.

“Self-made man”, adored by his employees, Jack Ma inspires more than one. His conferences on personal development attract a human anthill. His many “failures”, converted over time into resounding success, galvanize ardor and force admiration in the entrepreneurial world.

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In China, his homeland, he remains a “revered” boss. “Jack Ma is admired by many Chinese, some of them have put their portrait at home to venerate in the same way they worship the god of wealth [Caishenye],” says the correspondent in China New York Times.

For the author of a book on the Alibaba adventure, quoted by the New York daily, “Jack Ma is the symbol of the wealth of the Chinese private sector […] and his withdrawal from Alibaba will be interpreted as a frustration or worry, whether he likes it or not. “

The number of Chinese firms, Alibaba, has flourished in recent years, rising almost to the height of the American rival giants like Amazon or Google.

The company now has some 85,000 employees. Its e-commerce platforms Taobao and Tmall control 60% of the Chinese market.

It is also present in the cloud industry, cinema and finance. Ali Baba is also behind the Alipay payment service, helping to transform the way the Chinese shop and pay for them.

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Written by How Africa

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