Jack Ma is Asia’s richest person

> Alibaba chief overtakes Wanda Group’s Wang with a total net worth of US$33.3b

BEIJING: Jack Ma, founder of e-commerce giant Alibaba, became Asia’s richest person, according to the latest Bloomberg Billionaires Index.

Ma rose to the top for the region after a deal made by the financial arm of his company added US$4.3 billion (RM16.6 billion) to his fortune on Tuesday, financial news agency Bloomberg reported yesterday.

He now has an estimated personal net worth of US$33.3 billion, overtaking Asia’s former number one, Dalian Wanda Group real estate tycoon Wang Jianlin on US$32.7 billion. Number three is now Hong Kong tycoon Li Ka- shing, with US$29.5 billion, Bloomberg said.

Worldwide, Ma currently ranks 16th in Bloomberg’s billionaire count. The Asia rich list could reshuffle again as Wang is reportedly seeking to reorganise his entertainment business and Ma is reportedly planning to take Alibaba’s financial affiliate, Ant Financial, public in what could be China’s largest IPO since 2010, according to Bloomberg.

China’s rapid economic development has produced more high-net-worth individuals in a shorter period than anywhere else in history. All of China’s billionaires have emerged in the past decade.

China’s new billionaires include Zhou Qunfei, who founded touchscreen maker Lens Technology, and Frank Wang Tao, founder of the world’s largest consumer drone company. – dpa