Encomium
The founder of Alibaba group of companies, China’s biggest e-commerce company, Jack Ma has become the richest in Asia, according to the Bloomberg Billionaires Index.
The 50-year-old former English teacher added a stunning $25 billion (N4.6tr) to his fortune this year and is now worth $28.6 billion (N5.26tr).
Ma owes majority of his wealth to his 6.3 percent stake in Alibaba, valued at $16.3 billion (N2.99tr). He also controls almost half of the closely held finance unit and owner of Alipay, a service similar to PayPal.
