Alibaba’s Jack Ma is China’s rich­est

China Daily (USA) - - NEWS CAPSULE -

Jack Ma, e-com­merce giant Alibaba’s founder, is the rich­est man in China, ac­cord­ing to the 2018 Hu­run China Rich List.

It is the sec­ond time that Ma has topped list in the past four years. Ma and his fam­ily’s wealth in­creased by $10 bil­lion to $39 bil­lion, on the back of a hike in the val­u­a­tion of on­line pay­ment arm Ali­pay’s moth­er­ship Ant Fi­nan­cial. Its val­u­a­tion ex­ceeds $100 bil­lion.

Alibaba’s mar­ket value reached $390 bil­lion by the end of Septem­ber, mak­ing it the most valu­able com­pany es­tab­lished in China and one of the 10 largest com­pa­nies glob­ally.

Last year’s No 1, Xu Ji­ayin, chair­man of real es­tate de­vel­oper Ever­grande Group, was de­moted to sec­ond place this year, with his wealth shrink­ing $6 bil­lion to $36 bil­lion.

PRO­VIDED TO CHINA DAILY

Mu­si­cians played 666 pi­anos at the same time dur­ing a piano-play­ing com­pe­ti­tion on Oct 6 in Wuqiang county, North China’s He­bei province. The piano en­sem­ble set a new record rec­og­nized by Guin­ness World Records for its scale.

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