Alibaba’s Jack Ma named ‘one of the most influential figures of our time’

Forbes Media has presented the Malcolm S. Forbes Lifetime Achievement Award to Alibaba Group founder and partner Jack Ma.

“Jack Ma not only created one of the most outstanding companies of the world but also a company that nourished the vibrant small business community in China – and small businesses around the globe,” Forbes Media Chairman and Editor-in-Chief Steve Forbes says. “He is indeed one of the most influential figures of our time.”

Further details here.

End of an era

In September, Ma stepped down from his role as Chairman at Alibaba. The 55-year-old, who co-founded Alibaba in 1999, is shifting his focus to philanthropy and education. Daniel Zhang, currently Chief Executive, has replaced him as Executive Chairman.

Ahead of his departure, Ma, China's richest man with a net worth of $38.6 billion according to Forbes, returned to Hupan Garden, his Hangzhou apartment in 1999, where it all began for Alibaba.

“This is where he gathered 17 of his former colleagues and students to launch what would become the largest retail commerce business in the world,” the company said in a statement.

“At Alibaba, it’s considered sacred space. When new projects are launching, teams relocate to Hupan to soak up some of the spirit that drove those first Aliren. Taobao, DingTalk and marketing platform Alimama got their starts there,” it added.