Jack Ma steps down as Chairman of Alibaba
Jack Ma officially steps down as the chairman of Alibaba on September 10, 2019, on his birthday, and after 20 years since the company was founded.
As of June 2019, he is one of China’s richest men, with a net worth of $35.6 billion. He was ranked 21st in Forbes’ World’s Most Powerful People.
Ma stated that he wants to focus on philanthropy through his foundation. He was formally an English teacher.
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Who is the chairman of Alibaba
Ma first resigned as Alibaba’s Chief Executive Officer (CEO) in 2013 and was replaced by Jonathan Lu. In 2015, Daniel Zhang replaced Jonathan Lu. Daniel Zhang will officially take over Alibaba and serve as the chairman of the group after Ma.
Alibaba Business Model
Alibaba follows a combination of business models, unlike Amazon. Alibaba built an ecosystem that automatically scaled with success. As more buyers came to Alibaba, more manufacturers arrived. While attracting the global market, it also pulled Chinese customers.
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