Jack Ma saw his personal fortune swell by US$3.5 billion on Friday

Alibaba’s US mega-IPO swells founder Jack Ma’s fortune by $4.4b

Total net worth to date is $25.4b.

Jack Ma saw his personal fortune swell by US$3.5 billion on Friday after shares of the company he founded, Chinese e-commerce giant Alibaba Group Holding, soared 38% above the initial IPO price of US$68 to close at US$93.89 on its first day of trading on the New York Stock Exchange.

Wealth-X estimates that the Alibaba founder and executive chairman gained US$3.5 billion from his company’s blockbuster debut, bringing his net worth to date to US$25.4 billion. That represents a 13.8% rise in his personal fortune in one day. Ma, who started Alibaba in his one-bedroom apartment in Hangzhou in 1999, has a 6.3% stake in the company. He earned $867 million from the sale of some of his shares in the offering.

Joseph Tsai, the company’s vice chairman who holds a 2.7% stake in Alibaba, is now worth an estimated US$6.2 billion after gaining USS$1.5 billion from the company’s debut trading dayon Friday, representing a 24.2% increase in his personal fortune.

Here’s more from Wealth-X:

Excluding Ma and Tsai, the 10-member Alibaba Management Team collectively hold a 2.1% stake in the company, which is valued at US$4.7 billion after the company’s first trading day.

Aibaba raised $21.8 billion on Friday, the largest-ever IPO for a company listed on an American exchange.
The company is now valued at US$231 billion, making it larger than Amazon and eBay combined. About 271.2 million Alibaba shares changed hands from the time of its trading debut atnoon (New York time) until market close at 4 p.m.

The company employs more than 25,000 people. It has 300 million customers - just short of the entire US population. Ma, a former English teacher, founded Alibaba with US$60,000 borrowed from 18 people. 

Join Singapore Business Review community
Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Top News

30 One-Sentence Stories From People Who Have Built Better Habits
None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.
SBR 5 Lorem Ipsum News 2 [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 4 Lorem Ipsum [8 May Top Stories]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

How Experts Figure What to Focus On
eliminate the distractions. Commit to one thing and become great at that thing.”
Exclusive three SBR 12 Lorem Ipsum [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 3 Lorem Ipsum [ Exclusive 2]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Event News

Video [Event News]
Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley