Alibaba’s Jack Ma, China’s richest man, to retire from company

A former English teacher, Jack Ma started Alibaba in 1999 and built it into one of the world’s most consequential e-commerce and digital payments companies, transforming how Chinese people shop and pay for things. That fuelled his net worth to more than $40 billion, making him China’s richest man. Ma said his retirement is not an end but a new beginning.

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