Alibaba co-founder Jack Ma is China's third richest person with a net worth of $36.6 billion.
China's richest man and Alibaba Group Holding Ltd's co-founder Jack Ma announced his retirement with effect from Monday to pursue philanthropy in education. Jack Ma, who is much respected in China, and is the global face of Alibaba, will retire after he turns 54 on Monday. Jack Ma, a former English teacher, co-founded Alibaba with 18 others out of his apartment in Hangzhou, Zhejiang province, in 1999. The e-commerce company has a total market value of about $420 billion as of Friday's close.