₦airaland Forum

In the battle for supremacy between the world’s ecommerce billionaires, Jack Ma is now winning.

Ma, the cofounder and chairman of Chinese ecommerce giant Alibaba, is now wealthier (at least on paper) than Amazon founder Jeff Bezos, according to data collected Friday from theBloomberg Billionaires Index.

Ma is now said to be worth $36.4 billion thanks to his stake in Alibaba as well as his stake in Ant Financial, the company’s financial affiliate, which is now said to be valued at $50 billion and considering an IPO next year. Bezos, by comparison, has a net worth of $32.3 billion.

Based on Friday’s numbers,

Ma and Bezos are the 13th and 16th richest people in the world, respectively.
Ma and Bezos are the 13th and 16th richest people in the world, respectively. The switch in their placements is somewhat symbolic; Alibaba is often compared to Amazon, since they both focus on ecommerce, though Alibaba doesn’t actually handle logistics and serves more as a platform for brands to connect with customers.

Ma, who has a 9% stake in Alibaba, saw his net worth soar to $26 billion in September shortly after Alibaba’s IPO, the largest in history.

Alibaba stock briefly ticked up to as much as $120 a share late last year, pushing the company’s market cap to nearly $300 billion. It has since fallen back below $100 after falling short of revenue estimates in its holiday earnings report last week.

http://gblweb.com/2015/02/03/alibabas-jack-ma-is-now-richer-on-paper-than-amazons-jeff-bezos/

Jack Ma would soon be a force to reckon with.

He is taking entrepreneurship to a whole new height.

One of his favourite quotes has been my guiding principle in life.

dunkem21:
Jack Ma would soon be a force to reckon with.

He is taking entrepreneurship to a whole new height.

One of his favourite quotes has been my guiding principle in life.

Do you mind sharing the quote?