Last year, the co-founder of the Chinese e-commerce giant left the post of CEO of the company to pursue philanthropic activity.
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Alibaba co-founder Jack Ma has reduced his stake in the company from 6.2% to 4.8% in the last year, informs Reuters citing company documents released last Friday.
During that time, the value of the company’s shares is reported to have grown 40%, however, the Chinese e-commerce giant has not detailed sales prices. Taking into account its current market value, it is estimated that Ma could have earned about $ 8.2 billion.
The Chinese businessman left the executive presidency of the Alibaba Group last September and abandoned his formal functions within the business to focus his attention on philanthropic activity.
Like Jack Ma, the group’s vice president, Joseph Tsai, also reduced his stake in the company from 2.2% to 1.6%. The two have been decreasing their activity within the company since it was announced that Daniel Zhang would succeed Ma as CEO.
During this 2020, Ma and Tsai are reported to have donated millions of units of personal protective equipment (PPE) to hospitals around the world to help combat the spread of covid-19.
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