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Jack Ma Emerges as China’s Richest Man Before Alibaba IPO
Jack Ma is China’s richest person. The 49-year-old founder and chairman of Alibaba Group Holding Ltd. has a net worth of $21.8 billion, according to the Bloomberg Billionaires Index. His assets include a 7.3 percent economic interest in China’s largest e-commerce business, which is preparing for what could be the largest initial public offering in U.S. history, and almost half of the parent of Alipay, a separate online-payment service that previously hadn’t been included in his net worth calculation. Ma is $5.5 billion richer than Ma Huateng, the founder of Tencent Holdings Ltd., China’s largest Internet ... (full story)