Tue, Sep 11, 2018 - Page 10 News List

Jack Ma to give Alibaba’s helm to CEO

‘ENVIABLE CLARITY’:Jack Ma has set up a foundation in his own name in preparation for his retirement and said that he would hand over the reins in exactly 12 months’ time


Ma in an interview with Bloomberg TV last week said that he plans to shift his focus to philanthropy and education, taking him back to his profession before starting an e-commerce empire.

He has created a foundation in his own name, modeled in part on the efforts of Microsoft Corp cofounder and fellow billionaire Bill Gates.

“I’ve prepared a Jack Ma Foundation. All these things that I’ve been preparing for 10 years,” he said. “There’s a lot of things I can learn from Bill Gates. I can never be as rich, but one thing I can do better is to retire earlier.”

Ma has remained the public face of Alibaba, showing off his wit and dispensing folksy wisdom on the global stage.

“There isn’t a face or name more recognizable globally that represents the rise of China’s Internet and its consumers than Jack Ma,” Tanner said.

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