Jack Ma, who launched China’s largest e-commerce company two decades ago and rode it to a $47.6 billion fortune, turns out to have created billions of dollars of wealth for at least 10 others – a total of almost $100 billion. By investing directly in or partnering with companies that provide services for his online buying platforms – from payment systems to delivery companies – Ma and his Alibaba Group have minted a network of people whose combined fortunes total more than $52 billion, according to the Bloomberg Billionaires Index. With Ma’s wealth included, the collective net worth is larger than the economies of 136 countries. The fortunes have emerged from Alibaba’s supporting industries – e-payments and insurance, delivery companies and complementary retailers such as supermarkets. At least two billionaires have emerged this year from the fintech world supporting Alibaba. Parcel delivery has also created six billionaires.
China Economic Review