Mon. Sep 23rd, 2019

China’s Richest Man, Jack Ma Steps Down From His $460 Billion Alibaba Company

Jack Ma, the flamboyant tech personality and the richest man in China, is leaving his $460 billion Alibaba empire 20 years after founding the company.

Ma stepped down as the chairman of Alibaba Group yesterday on his 55th birthday, as part of a long-planned succession scheme. Alibaba Group is the world’s largest e-commerce group, with more than triple the total reported sales of Amazon for 2018.

Ma has picked Daniel Zhang, the CEO of Alibaba since 2015, to take over, though he is unlikely to match Ma’s famous flamboyance.

 

The question nows is how many company owners can step down of their company without getting old, falling sick or giving the company to their son, daughter or family member manage?

 

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