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Business daily

Jack Ma announces retirement from Alibaba

By: Yuka ROYER
1 min

Jack Ma, the charismatic founder and chairman of Chinese e-commerce giant Alibaba, says he will step down in a year's time to focus on philanthropy and education. The 54-year-old started his business in a small flat back in 1999 and has become one of China's richest men. He will be replaced by the current CEO, Daniel Zhang.

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