Alibaba founder now richest man in China

In the picture: Wang Jian Lin (left) Jack Ma (right)

Forbes announced on 15 May 2017 that Jack Ma, founder of Alibaba, is now the richest man in China with a net worth of US$30.9 billion. Wang Jianlin, founder of Dalian Wanda Group, China’s largest real estate developer, is in 2nd place with US$30.7 billion.

Ma’s wealth was boosted by Alibaba’s stock rising more than 30% year till date. At one point last year, Alibaba’s shares had fallen below US$70. As at the time of writing, it was trading around US$120.

The richest man in Asia remains Hong Kong’s Li Ka-Shing at US32.9 billion. Another of China’s tech giants, Pony Ma, founder of Tencents, is worth US$20.7 billion.

Looks like it’s true; the era of the geeks have arrived! Read:¬†How did Billionaires Make their Money?