Jack Ma steps down to focus on charity – The Wall Street Journal

DUBLIN – Like Bill Gates before him, Alibaba founder and billionaire Jack Ma has decided to hand over the reins to someone else in order to focus his attention on philanthropy. Ma, who is just 54, has been active in causes like education and entrepreneurship, and has made a number of visits to Africa. It seems that, at a certain point, the only sensible thing to do with massive amounts of wealth is to invest it in trying to make the world a better place. The Bill and Melinda Gates Foundation, for example, works in areas like medicine and education to try and tackle persistent problems and global inequalities. It will be interesting to see what Ma, whose own country, China, is no stranger to poverty and social problems, will do with his philanthropy. – Felicity Duncan

Alibaba's Jack Ma to Step Down as Executive Chairman

By John Corrigan and Liza Lin

(The Wall Street Journal) BEIJING—Jack Ma, the billionaire tycoon who rode the currents of China's rising affluence to build one of the world's biggest e-commerce companies, is planning a transition out of his role as executive chairman at Alibaba Group Holding Ltd. to focus on philanthropy and other pursuits, according to a person familiar with the situation.

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