Asia's Richest Man, Jack Ma Added A Cool $2.8 Billion To His Total Worth In Just A Single Day!
The business magnate is now the 14th richest man in the world, with no signs of his company slowing down anytime soon.
We all know that Jack Ma, founder of Alibaba.com, is the richest man in Asia. And his fortunes continues to shine as the billionaire entrepreneur¡¯s net worth surged by $2.8 billion in a single day as Alibaba annual sales grew higher than analyst¡¯s estimates.
Jack Ma, aged 52, is now the richest person in Asia and the 14th wealthiest individual in the whole wide world, according to the Bloomberg Billionaires Index. This calendar year alone, Ma¡¯s net worth has zoomed up by $8.5 billion to a total personal net worth of $41.8 billion.
Bill Gates continues to be the unchallenged numero uno in the list of world¡¯s richest people. Catching up on Gates is Amazon.com¡¯s Jeff Bezos, who¡¯s now officially the second richest person in the world.
How did Jack Ma acquire close to $3 billion in a single day?
This was possible because Alibaba, China's largest e-commerce company, was able to beat the growth forecast of 45 to 49 percent revenue rise in the year ending March, thanks to key investments the company made beyond its bread-and-butter online shopping enterprise.
Alibaba and Tencent Holdings Ltd. -- which dominate online shopping and social media, respectively -- have ventured deeper into new areas from cloud computing services to streaming music and video, despite China's decelerating economy.
Alibaba is capturing more digital advertising spending by incorporating social elements such as video in its shopping sites. As a result, shares in Alibaba -- where Jack Ma is chairman -- rose 13 percent to a record high.
With inputs from ET
