Billionaire Jack Ma Prepares for Life After Alibaba
- Alibaba chairman sets up Jack Ma Foundation for philanthropy
- Ma draws inspiration from fellow billionaire Bill Gates
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Jack Ma, China’s richest man, is laying the groundwork for a future away from Alibaba Group Holding Ltd., the company he co-founded and turned into an e-commerce juggernaut.
In an interview with Bloomberg TV, the Alibaba chairman said he is dedicating more of his time and fortune to philanthropy with the creation of a foundation in his own name focused on education, following in the footsteps of fellow billionaire Bill Gates. Ma, who turns 54 on Monday, has a net worth of more than $40 billion according to the Bloomberg Billionaires Index.