Alibaba Group Holding Ltd Chairman Jack Ma overtook Dalian
Wanda Group Co’s Wang Jianlin as Asia’s richest man after the e-commerce
giant’s financial affiliate raised a record amount in its latest round of
fundraising. Ma added US$4.3 billion (RM16.8 billion) to his fortune yesterday
after his Ant Financial’s latest deal, expanding his wealth to US$33.3 billion,
according to the Bloomberg Billionaires Index. That puts him ahead of Wang’s
US$32.7 billion and Hong Kong tycoon Li Ka-shing’s US$29.5 billion. Ma’s lead
among Asia’s billionaires could be short lived as Wang reorganises his
entertainment business and seeks to relocate his property unit’s listing in
search of higher valuations in mainland China — deals that could affect the
property-to-entertainment mogul’s fortune. Alibaba’s billionaire chairman owns
6.3 per cent of Alibaba and 37.9 per cent of Ant Financial, whose full name is
Zhejiang Ant Small & Micro Financial Services Group Co, after the
fundraising. Ma is also said to be planning to take Ant Financial public in
what could be China’s largest IPO since 2010. — Bloomberg
