Alibaba Founder Jack Ma's Net Worth Went Up $2.8 Billion Overnight
Money is not a client of any investment adviser featured on this page. The information provided on this page is for educational purposes only and is not intended as investment advice. Money does not offer advisory services.
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.