Alibaba’s Rise Creates At Least 10 Billionaires Not Named Jack Ma
- Investments, partnerships forged universe serving e-commerce
- China’s consumer upgrades fuel its online buying surge
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Jack Ma, who launched China’s largest e-commerce company two decades ago and rode it to a $47.6 billion fortune, turns out to have created billions of dollars of wealth for at least 10 others -- a total of almost $100 billion.
By investing directly in or partnering with companies that provide services for his online buying platforms -- from payment systems to delivery companies -- Ma and his Alibaba Group Holding Ltd. have minted a network of people whose combined fortunes total more than $52 billion, according to the Bloomberg Billionaires Index. With Ma’s wealth included, the collective net worth is larger than the economies of 136 countries.