So one of the biggest names in the E-commerce world is probably AliBaba and today we have some pretty sad yet happy news for you,while retiring is something considered to be sad the amazing journey of Co founder and Executive Chairman, Jack Ma, truly makes it a happy ending for this amazing personality.The man in charge is officially leaving Alibaba group. Moreover,Jack has now expressed his desires to devote his time to education and philanthropy and announced his departure last year. Since he wanted his departure to be gradual, he took a year’s time to wrap things up and well that announcement did come and it came this week. In the announcement last year, Ma said “The one thing I can promise everyone is this: Alibaba was never about Jack Ma, but Jack Ma will forever belong to Alibaba.”
Moreover,Jack Ma co-founded Alibaba in 1999 and this venture is now worth $460 billion owing to his years of hard work and effort. It is also found that Jack also happens to be the richest man in China with a net worth of around $40 billion. Jack is often seen as the man who brought the world of e-commerce into China and expanded it to everything including digital payments, online banking, and cloud computing.While he has expressed desires to get in to the world of teaching,the man is also known in China as teacher Ma, he spent most of his life teaching English to Chinese children. Which is why he chose the Chinese Teacher’s day to retire.
For the departure of the owner of the company,the company hosted a four-hour-long employee event in a stadium yesterday and the stadium was able to accommodate 80,000 people. The event included performers in costumes and a parade of floats. Former Alibaba Executive Chairman, Jack Ma retired in a rock star wig, funky costume and a guitar on the stage.He said that “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.”
The man of the hour will remain on Alibaba’s board of directors until next year’s general shareholders’ meeting. It is also found that Jack will remain as a lifetime partner at the Alibaba partnership. The group includes all the senior management of Alibaba Group of companies and affiliates with rights to nominate and appoint the simple majority of its board.