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By Lisa Marie Segarra
June 9, 2017
CeBIT 2015 Technology Trade Fair
Alibaba Group Executive Chairman Jack Ma
Sean Gallup—Getty

Jack Ma’s net worth increased $2.8 billion overnight as Alibaba’s forecast sales growth topped analysts’ estimates.

Ma, now the richest person in Asia and Alibaba’s chairman, now has a net worth of $41.8 billion, according to Bloomberg. Ma’s net worth has already grown by $8.5 billion this year alone, and stands as the 14th wealthiest person in the world.

Alibaba is the largest e-commerce company in China.

The company saw a forecast revenue growth of 45 to 49%. Shares rose 13% to a record high as well, prompting Ma’s net worth growth, Bloomberg reported. The company is also moving into other services including music streaming and video.

Ma founded Alibaba in 1998.