Alibaba founder confirmed as China’s richest man with $25bn fortune
Alibaba founder Jack Ma has become the richest man in China after racking up a personal $25bn fortune on the back of his online retail empire.
The Hurun report list Ma at the top of its wealth chart following the firms successful IPO in New York, which swelled its coffers significantly ahead of planned expansion in Europe and the US.
Ma’s many billions nudged him ahead of rivals in the super rich league; notably Wanda Group chairman Wang Jianlin who has amassed a $24.2bn fortune and Li Jejun of Hanergy, who has accrued $20.8bn.
The 2014 list boasts a record 354 dollar billionaires in the country, a 13 per cent rise on last year with a combined wealth of $1.4tn.
A decade ago there were just three billionaires on the comparable list.