Beijing : Founder of largest e-commerce giant “Alibaba”, Jack Ma formally bid adieu to his company founded 20 years ago in a small shared apartment in Hangzhou city in eastern China. Tearful Jack Ma donning a guitar and a rock star wig at an event for thousands of employees of the e-commerce giant stood in front of his workers who threw a farewell party for their founder.
During the four hour celebration in an 80,000 capacity stadium, Alibaba’s billionaire executive chairman delivered on his promise of a year ago to hand over to CEO Daniel Zhang. “After tonight I will start a new life. I do believe the world is good, there are so many opportunities, and I love excitement so much, which is why I will retire early,” Ma told guests and employees.
Ma was spotted at one point welling up with tears as staff put on skits and sang songs, prompting the topic “Jack Ma has cried” to trend on Chinese social media platform Weibo.
Ma’s exit comes as Alibaba has grown in leaps and bounds to become Asia’s most valuable listed company, with a market capitalization of $460 billion, it employs over 100,000 people, and has expanded into financial services, cloud computing and artificial intelligence.