Jack Ma Retirement

Jack Ma, the founder and chairman of Alibaba group has officially left the company.

The founder of one of the world’s largest eCommerce business announced it while playing guitar at a concert attended by thousands of his employees.

During the 4-hour concert, Ma announced his plans on teaching and that he is handling everything over to CEO Daniel Zhang as he promised.

Ma founded and established Alibaba Group 20 years ago and since had expanded the business not just across China, but globally.

Alibaba Co-Founder Jack Ma Announces Retirement!

The Alibaba Group includes eCommerce, retail internet and technology-based companies. It is now worth $460 billion dollars, and Jack Ma is the richest man in China with assets of around $40 billion.

Jack Ma added:

After tonight I will start a new life. I do believe the world is good, there are so many opportunities, and I love excitement so much, which is why I will retire early.

He cried while announcing this news and said that he would stay connected and be a part of the 38-person body forming the Board of Directors and play an indirect role in the governance of the group.

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