The New York Times reports claims that Jack Ma, the co-founder, and chairman of Chinese e-commerce giant Alibaba Group, is retiring.
The Times claim that in an interview, Ma has planned to step down as executive chairman on Monday to pursue financial aid in education. He can stay on Alibaba’s board of administrators.
Ma started Alibaba in 1999 in his flat in the Chinese town of Hangzhou and is currently among the richest individuals in the world.
The company went public on the new york stock market in 2014 and contains a market price regarding $421 billion. it is the world’s biggest e-commerce company by the full price of the merchandise sold-out across its platforms, that embrace Taobao and TMall.
Alibaba didn’t straight off answer an invitation for comment.