The co-founder of the company announced that next week he will leave the company that he himself founded.
The co-founder of the Alibaba group, considered the wealthiest person in China, plans to retire from the company next Monday, reports Bloomberg.
In an interview with Bloomberg TV, the director of the company said he wants to devote more time and parts of his fortune to philanthropy, particularly in education. He called his retirement “the beginning of a new era.”
“I think that one day and soon I will return to teaching, I guess that’s what I can do better, rather than being the CEO of Alibaba,” said Jack Ma. Despite his announcement of retirement, the Chinese billionaire will remain in the the company’s board of directors and will continue to supervise it.
Before establishing Alibaba, in 1999, the Chinese tycoon worked as an English teacher. The creation of this gigantic commercial conglomerate made Jack Ma the richest person in China, with a fortune estimated at more than 40,000 million dollars.