Billionaire Jack Ma steps down as Executive Chairman of Alibaba Group

Chinese Billionaire, Jack Ma, has stepped down from his role as the Executive Chairman of Alibaba Group.

Jack Ma who initiated e-commerce into China, celebrated his retired with an absolute blast at an Olympic-sized stadium in Hangzhou, where Alibaba was birthed.

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According to reports, Jack Ma has left his role as to concentrate on being a full-time philanthropist after building the Alibaba empire which is now worth $460 billion in business.

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The author of “Alibaba: The House That Jack Ma Built” said;

“Jack has been signaling for some time his interests in philanthropy, environment, women’s empowerment, education and development.”

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Alibaba Group Holding Limited is a Chinese multinational conglomerate holding company specializing in e-commerce, retail, Internet, and technology.

Jack Ma, or Ma Yun, is a Chinese business magnate, investor, politician and philanthropist. He is the co-founder and executive chair of Alibaba Group, a multinational technology conglomerate. Ma is a strong proponent of an open and market-driven economy.

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