Alibaba Founder Jack Ma Retires

The chairman of the world’s biggest e-commerce business Alibaba, Jack Ma has resigned on Tuesday.

Ma is one of China’s wealthiest and best-known business leaders. He stepped down as Alibaba’s chief on his 55th birthday.

Ma, a former English teacher, founded Alibaba in 1999 to connect Chinese exporters to retail businesses in North America.

“After today, I will start a new chapter of my life. As a person that loves liveliness as much as me, I would not want to retire and leave the playground at such a young age. I just want to switch to another universe to have fun,” Ma said.

He will stay on as a member of the Alibaba Partnership, a 36-member group.

Jack Ma hands the reins to Daniel Zhang.




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