{"id":18146,"date":"2014-12-11T17:12:40","date_gmt":"2014-12-11T17:12:40","guid":{"rendered":""},"modified":"2014-12-11T17:12:40","modified_gmt":"2014-12-11T17:12:40","slug":"Jack-Ma-is-Now-Asia-s-Richest-Person","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=18146","title":{"rendered":"Jack Ma is Now Asia\u2019s Richest Person"},"content":{"rendered":"<p><strong>Jack Ma has become the richest person in Asia.<\/strong><\/p>\n<p>The 50-year-old founder of Alibaba Group Holding Ltd. (BABA), China&#8217;s biggest e-commerce company, passed Li Ka-shing, the Hong Kong property and ports tycoon who has held the top spot in the region since April 5, 2012, according to the Bloomberg Billionaires Index.<\/p>\n<p><strong>Ma, a former English teacher who started the Hangzhou, China-based company in his apartment in 1999, has added $25 billion to his fortune this year, riding a 54 percent surge in the company&#8217;s shares since its September initial public offering.<\/strong> He has a $28.6 billion fortune, according to the Bloomberg ranking. Li has a net worth of $28.3 billion. <\/p>\n<p>&#8220;The billionaires in China are growing their wealth faster because China&#8217;s economy is still developing, with plenty of room for growth,&#8221; said Francis Ying, an analyst at Yuanta Research. &#8220;Hong Kong is already a mature market.&#8221;<\/p>\n<p>Alibaba&#8217;s $259 billion market capitalization makes it larger than Amazon.com Inc. and EBay Inc. combined, and more valuable than all but eight companies in the Standard &#038; Poor&#8217;s 500 Index. <\/p>\n<p>More than half of Ma&#8217;s wealth comes from his 6.3 percent stake of Alibaba, valued at $16.3 billion. He also controls almost half of the closely held finance unit and owner of Alipay, a service similar to PayPal. <\/p>\n<p><em>Source Bloomberg<\/em><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jack Ma has become the richest person in Asia. The 50-year-old founder of Alibaba Group Holding Ltd. (BABA), China&#8217;s biggest<\/p>\n","protected":false},"author":1,"featured_media":70655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-18146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"colormag-highlighted-post":false,"colormag-featured-post-medium":false,"colormag-featured-post-small":false,"colormag-featured-image":false,"colormag-default-news":false,"colormag-featured-image-large":false,"colormag-elementor-block-extra-large-thumbnail":false,"colormag-elementor-grid-large-thumbnail":false,"colormag-elementor-grid-small-thumbnail":false,"colormag-elementor-grid-medium-large-thumbnail":false},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"2","magazineBlocksPostExcerpt":"Jack Ma has become the richest person in Asia. 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