Jack Ma Net Worth Explained: Billionaire Alibaba Co-Founder Lost Half His Wealth in 2023

• Alibaba co-founder Jack Ma has amassed a net worth of up to $36 billion.
• The entrepreneur’s net worth has decreased by over half since its peak in 2020.
• Once Asia’s richest person, Ma still remains one of the richest e-commerce entrepreneurs in the world.

Jack Ma, one of the most influential entrepreneurs today, has built his huge net worth despite consistent opposition from the Chinese government.

The Alibaba co-founder was able to envision the mass potential of the internet and e-commerce before it had fully arrived.

Despite constant scrutiny from Chinese regulators, Ma’s perseverance and vision of the internet’s power have made him one of the wealthiest men in the world.

Jack Ma’s Net Worth

According to Forbes , Ma’s net worth is estimated at around $24.6 billion as of January 30, 2025. However, Bloomberg reported in January 2025 that Ma’s net worth exceeded at least $36 billion.

Both publications note that most of Ma’s wealth comes from dividend payouts from Alibaba and its online payment service, Ant Group.

Ma currently owns 3.9% of Alibaba and 9.9% of Ant, Bloomberg reported.

Ma’s Rise to Riches

Born in 1964 in Hangzhou, China, Ma grew up in a modest household during China’s early economic reforms.

From a young age, he was fascinated with learning English and regularly offered free tours to foreigners in exchange for conversation practice.

Despite his ambition, Ma’s setbacks on his journey began early . He failed his university entrance exams twice before finally being accepted to Hangzhou Normal University, and after graduation, he struggled to find a job.

After being famously rejected by dozens of companies, including KFC, Ma became an English teacher.

Ma’s life changed in the mid-1990s when he was introduced to the Internet during a visit to the U.S.

Shortly after returning home, he launched his first online venture, China Pages, an early business directory. It struggled due to a lack of funding and government restrictions.

Ma’s Alibaba Bet

This, nonetheless, led Ma to his first big break. In 1999, with a small group of friends and just $60,000, he co-founded Alibaba from his apartment.

His vision was to create an online marketplace where small Chinese businesses could sell their products globally.

China’s internet infrastructure was weak at the time, and trust in online transactions was low.

However, Ma was relentless in pushing his vision. He convinced investors, built partnerships, and focused on creating a platform that allowed businesses to trade confidently.

By 2002, Alibaba had accumulated one million active users.

Striking while the iron was hot, Ma launched a retail-based website called Taobao.com and later launched an online payment platform called Alipay.

Shaky Yahoo Merger

After seeing some success, Ma knew his sites could be bigger. The entrepreneur had previously met Jerry Yang, co-founder of Yahoo, and called on him to help grow the businesses globally.

Yahoo went on to purchase a 40% stake in Alibaba for $1 billion to become its internet search engine partner, Reuters reported .

However, when Yahoo’s business began to fall due to fierce competition from Google, Ma attempted to buy back the stake but failed.

Later down the line, Ma and Yahoo continued to butt heads. In 2011, when Ma moved Alipay out of Alibaba Group into a company where he had complete control, Yahoo claimed he did so without their permission.

Yahoo said the move had lowered the value of its original investment.

After years of back-and-forth talks, Ma eventually bought back half of Yahoo’s 40% investment for $7.1 billion.

Alibaba IPO

In 2014, Alibaba went public with an initial public offering (IPO), marking a significant turning point for Jack Ma’s net worth and catapulting him into the ranks of the world’s wealthiest individuals.

Before the IPO, Alibaba was already a dominant force in China’s e-commerce market, but going public on the New York Stock Exchange unlocked massive capital and global recognition.

The company raised $25 billion in one of the largest IPOs in history. Given its stronghold over online shopping, payments, and cloud computing in China, investors were eager to invest in Alibaba’s success.

Ma’s holdings in the company were now worth billions, and as the stock continued to perform well in the following years, his net worth kept climbing.

Ma left his role as Alibaba CEO in May 2013, later departing as chairman in September 2019.

Ma’s Net Worth Halves

In October 2020, Ma publicly criticized China’s regulatory system, describing state-owned banks as having a “pawnshop mentality” and challenging the existing financial oversight framework.

Shortly after his speech, Chinese authorities suspended Ant Group’s anticipated $37 billion initial public offering (IPO) just days before its scheduled launch.

This suspension halted what would have been the world’s largest IPO and marked the beginning of intensified regulatory scrutiny on Ma’s businesses.

In 2023, Ma’s net worth fell $4.1 billion due to a significant decline in Ant Group’s valuation.

Once Asia’s richest person, Ma is now worth less than half of the $61.2 billion net worth peak recorded in 2020, according to Bloomberg.

In Ma’s Own Words

“I’m not happy being the richest man in China.”

“When people think too highly of you, you have the responsibility to calm down and be yourself.”

“You don’t need to know a lot of things , but you need to find the people who are smarter than you are. My job is to make sure smart people are working together.”

“You should learn from your competitor but never copy . Copy, and you die.”