Jack Ma, the billionaire who ushered e-commerce into China, is officially stepping down as Alibaba's executive chairman
After two decades building Alibaba into a $460 billion business, Ma is now pivoting full time to philanthropy. He started the Jack Ma Foundation in 2014, and has cited the Bill and Melinda Gates Foundation as an inspiration for his charitable endeavors. "Jack has been signaling for some time his interests in philanthropy, environment, women's empowerment, education and development," said Duncan Clark, the author of"Alibaba: The House That Jack Ma Built.
Supporting women Ma and Alibaba have hosted a biennial conference in China on women and entrepreneurship since 2015. The events have drawn names such as Arianna Huffington and Vera Wang. This year's conference included a video message from Rihanna."Women have always played an integral role in Alibaba since its establishment two decades ago," Ma said at the conference last month, according to a report published by the company's news site Alizila.
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