Caixin
Oct 10, 2018 05:54 PM
BUSINESS & TECH

Jack Ma Is China’s Richest Man Again, ‘Rich List’ Says

Jack Ma, founder and chairman of Alibaba Group Holding Ltd., has retaken the top spot on the Hurun Report’s new list of the richest Chinese. Photo: IC
Jack Ma, founder and chairman of Alibaba Group Holding Ltd., has retaken the top spot on the Hurun Report’s new list of the richest Chinese. Photo: IC

Alibaba Group Holding Ltd. founder Jack Ma, who plans to become a teacher after retiring next year, has reclaimed the title of richest man in China with a fortune of 270 billion yuan ($39.0 billion), the “Hurun Rich List” (link in Chinese) announced today.

Ma’s return to the top spot — a position he last held in 2014 — is thanks in large part to the sharp increase in valuation of Alibaba-affiliated online payment giant Ant Financial Services Group, which he founded.

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