Jack Ma, the richest man in China, leaves Alibaba

The millionaire Jack my abandoned Ali Baba, the company that it founded in 1999 and which revolutionized online commerce in China, deeply marking the Asian giant's economy.

This former English teacher, who is now 55 years old, will take over the position from a leadership team, including Daniel Zhang, CEO since 2015.

Jack Ma, one of China's richest men, with a fortune estimated at $ 41 billion, wants to devote himself to philanthropic projects, including education.

His departure marks the beginning of a new era for a company that knew take advantage of the Internet outbreak in China and opted for growth in domestic consumption, in a country that is now the leader in online commerce.

The entrepreneur is also known for his eccentricities. In 2017, he disguised himself as Michael Jackson at a gala, a very distant image of the impbadiveness of many Chinese leaders.

"His experience as an English teacher, along with his charisma and sense of humor, has made him an iconic figure of Chinese entrepreneurs overseas," said Duncan Clark, author of the book. Alibaba: The house that Jack Ma built.

"His influence as a symbol of Chinese entrepreneurship is second to none," he said.

The origins of Alibaba

Jack Ma discovered the Internet during a trip to the United States in the 1990s, while he was a resource-less entrepreneur. After several projects in China, without much success, he convinces a group of friends to lend him $ 60,000 launch of an online trading company, Alibaba, in 1999.

The company, listed in the United States, It has a value of 462 million dollars, according to the financial agency Bloomberg. Jack Ma, who could retain some consulting functions in the company, did not comment on his retirement.

His successor, Daniel Zhang, is known for his rigor and rarely appears in public. However, the Chinese press says that it is he who has turned Jack Ma's "tractor" into a powerful "Boeing 747" of Internet trading.

"You have to be awake every minute, you have to keep your eyes open during sleep," said Daniel Zhang last year.