Jack Ma, dig­i­tal econ­omy ad­viser to the Malaysian govt, is now China s rich­est man

New Straits Times - - Front Page -

BEIJING: Jack Ma, Alibaba Group’s chair­man, has un­seated Dalian Wanda boss Wang Jian­lin to re­claim his crown as China’s rich­est man.

As of yes­ter­day, Ma’s net worth was US$31 bil­lion (RM134 bil­lion), nar­rowly out­strip­ping US$30.8 bil­lion for Wang, the prop­erty-toen­ter­tain­ment mogul who con­trols the world’s largest cin­ema chain AMC En­ter­tain­ment and China’s largest pri­vate de­vel­oper, ac­cord­ing to Forbes.

The tech­nol­ogy ty­coon’s wealth has been boosted by a solid rally in Alibaba’s share price, which has soared 37 per cent so far this year.

Alibaba owns the South China Morn­ing Post.

Ma was ap­pointed as the dig­i­tal econ­omy ad­viser to the Malaysian govern­ment dur­ing Prime Min­is­ter Datuk Seri Na­jib Razak’s of­fi­cial trip to China in Novem­ber last year to as­sist Malaysia in spear­head­ing the coun­try’s move to­wards a dig­i­tal econ­omy.

Na­jib said Ma could help spear­head the coun­try’s e-com­merce de­vel­op­ment and would help open new fields for the Malaysian econ­omy.

On March 22, Na­jib and Ma launched the world’s first Dig­i­tal Free Trade Zone, which was aimed at pro­vid­ing phys­i­cal and vir­tual zones for small and medium en­ter­prises to cap­i­talise on the con­ver­gence of ex­po­nen­tial growth of the In­ter­net econ­omy and cross-bor­der e-com­merce ac­tiv­i­ties. Agen­cies

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