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Alibaba Chairman Jack Ma Steps Down From Chinese Internet Giant You will be redirected back to your article in seconds Skip to main content September 10, 2019 9:29am SERVICES TO SHARE THIS
PAGE. Jack Ma has stepped down as chairman of Alibaba Group, the Chinese internet giant he co-founded 20 years ago. Ma’s retirement is not a surprise. He announced last year that he would be
standing aside to devote more time to “education, philanthropy and the environment.” His departure coincides with his birthday and he was set to mark both occasions at a farewell party at
the Hangzhou Olympic Sports Center Stadium in China on Tuesday. Daniel Zhang, Alibaba’s CEO since 2015, will take the reins as chairman. Ma has previously said Zhang has “the logic and
critical thinking skills of a supercomputer.” Ma founded Alibaba in 1999 and has built the e-commerce company into a $454B empire, transforming the way Chinese people shop. In the process,
Ma has become one of the richest men in the world, with a net worth of nearly $42B, according to Bloomberg’s Billionaires Index. Alibaba’s sprawling operations have penetrated Hollywood in
recent years. It took a minority equity stake in Steven Spielberg’s Amblin Partners in 2016, for example, which helped bring films like Green Book to Chinese audiences. WATCH ON DEADLINE
Alibaba marked Ma’s departure with a nostalgic video in which the billionaire returned to the humble Hangzhou apartment from which he founded his company (below). > Jack Ma Returns to
Hupan Garden: Birthplace of Alibaba. Ma’s > Hangzhou apartment in 1999 is where it all began for Alibaba. On the > eve of the company’s 20th birthday, we took him back to to reflect
> on those early days and what it took to build Alibaba into what it > is today. pic.twitter.com/3WdzjLvhdb > > — Alibaba Group (@AlibabaGroup) September 9, 2019 _JAKE KANTER
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