Alibaba founder Jack Ma steps down on 55th birthday

Tesla Inc CEO Musk and Alibaba Group Executive Chairman Ma attend the World Artificial Intelligence Conference in Shanghai on Aug. 29, 2019. Aly Song, Reuters

MANILA – Chinese billionaire Jack Ma is stepping down as executive chairman of Alibaba, China’s largest company, Reuters reported on Tuesday. 

Ma founded Alibaba in his apartment in 1999. The company now accounts for 80 percent of online sales in China. – With a report from Reuters

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