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Alibaba founder Jack Ma now China's richest man
Jack Ma is now officially China's richest man, just days after he floated Alibaba in the world's biggest IPO. Ma has soared to the top of the China annual rich list, compiled by the Hurun Report, with an estimated fortune of $25 billion. Ma -- who didn't even make the top 10 last year -- has seen his wealth balloon after Alibaba (BABA, Tech30)'s stock rocketed 38% in New York on Friday, its first day of trading. His firm raised $25 billion in its debut, smashing the previous record for a stock market listing. The former English teacher's wealth is derived primarily from his holdings in Alibaba, and closely-related ... (full story)