According to the New York Times, Mr. Ma plans to resign as chairman of Alibaba next Monday (Sept. 10) and devote himself to educational philanthropy, but he will still serve on the Alibaba board of directors and continue to direct the company's management.
Ma Yun, a former English teacher, founded Alibaba in 1999 and turned it into the world's most influential e-commerce and digital payment company, changing the way Chinese people shop and pay. It also made his net assets more than 40 billion dollars, becoming the richest man in China.
Ma said in an interview that his retirement is not the end of an era, but the beginning of an era. He said more time and wealth would be spent on education. He said:
Ma Yun will continue to serve as a member of the board of directors of Alibaba and continue to guide the management of the company. Ma Yun will celebrate her 54 birthday on Monday, and Monday is also China's teacher's day.
Ma Yun's retirement made it the first Chinese company to quit the Internet. Alibaba, Tencent, Baidu and Jingdong have developed rapidly in recent years, and are close to American giants such as Amazon and Google in terms of scale, scope of business and vision. It's not common for Chinese entrepreneurs to quit in their 50s, often for years at the top of a company.
Ma Yun's departure may have an impact on China's Internet industry. Last weekend, Jingdong founder and billionaire Liu Qiangdong was arrested on a business trip in Minnesota on rape charges, shaking China's Internet community.
For Alibaba, Ma Yun's retirement has completed the transfer of power to other executives. In 2013, Ma Yun resigned as CEO of Alibaba, and Zhang Yong, the company's current CEO, was one of Ma Yun's successors. However, Ma Yun has always been the image spokesman of Alibaba and the designer of long-term strategy. Securities documents show that Ma holds 6.4% of Alibaba shares.
Ma Yun is a born salesman and a charismatic leader. In 1999, he and 17 others, including some of his students, co-founded Alibaba in his apartment in Hangzhou, Zhejiang Province.
Alibaba was initially an online marketplace for businesses to sell products, but it didn't develop rapidly until it launched Taobao in 2003. Later, Alibaba launched an online payment service, Alipay, to promote transactions. In China, there are not many people who own credit cards. Alipay then developed into an ant suit, and Ma controls the company.
Alibaba's economy now includes e-commerce, online banking, cloud computing, digital media and entertainment, and even a corporate information service like Slack. The company owns some of China's most important media assets, including social media microblogs like Twitter and the English-language newspaper South China Morning Post in Hong Kong.
Among China's largest companies, Alibaba is regarded as one of the companies with the deepest reserves of managerial talent. Many co-founders are still in the company, and the professionals who later joined are now in charge of the company's management.
Last month, Alibaba reported quarterly revenue growth of 50%, but profits declined. Alibaba's annual revenue is about 250 billion yuan, or about US $40 billion.
Although Alibaba has gained dominance in the Chinese market, it is facing a more difficult environment for international expansion. Alibaba is expanding its overseas operations and investing in electronics and online finance companies in India and Southeast Asia, but Alibaba's efforts to enter the U.S. market have not been much successful.
Ma Yun visited U.S. President-elect Trump in early 2017 and promised to create 1 million jobs in the United States. However, for national security reasons, the U.S. government this year rejected the Ant Gold Clothing deal to buy the transfer company's express money.
With the flourishing development of Alibaba, Ma Yun has said many times that he does not want to spend his whole life in the company. He said he would retire one day and go back to teach.
In 2014, he founded the Ma Yun Foundation to develop education in rural China. Ma Yun's account number for Weibo is
In an interview with Bloomberg TV this week, Mr Ma hinted that he was considering more philanthropy and that Microsoft co-founder Bill
Ma Yun said he would never be as rich as Gates, but he could retire earlier than Gates. In 2014, Gates, 58, resigned as chairman of Microsoft.
According to Business Insider, Mr. Ma is ready to step down as chairman of Alibaba and spend more time and money on charities to create a foundation named after him.
In this regard, the media to the Ali Ministry of Public Relations to verify, the other side denied the news and said that if there is really the plan, it will be officially announced to the outside world.
Alibaba responded that whether it is in social welfare or in the Alibaba Group, Ma Yun is a teacher every day, and dreams of going to be a teacher every day. This is a normal idea for him. (Li Li)