Jack Ma, China's richest man, gives up Alibaba on the occasion of his 55th birthday

Jack Ma, China's richest man, is celebrating his 55th birthday on Tuesday by resigning from his position as executive chairman of e-commerce giant Alibaba.

Ma, a former English professor, co-founded the Alibaba Group in 1999 and, under his leadership, has become the most valuable company in Asia, with a market capitalization of $ 460 billion.

Alibaba employs more than 100,000 people and has expanded to other sectors, offering financial services, computer and artificial intelligence. The company will be chaired by Daniel Zhang, who until then held the position of executive director.

According to Reuters, after his resignation, Ma, who has a net worth of $ 38.4 billion, will be dedicated to philanthropy and education. However, he will continue to be part of an administrative group of Alibaba, whose duties are not related to those of the board of directors.

RT