Alibaba IPO makes rich even richer – Parool.nl

Alibaba IPO makes rich even richer – Parool.nl

20-09-14 10:54 h – Source: Reuters / BuzzT

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Jack Ma, founder of Alibaba, is the richest man in China © Belga

The 400 richest people in the world have their joint capital this week with 6.5 billion seen rising after the spectacular IPO of Internet giant Alibaba dollars. The ability of Jack Ma, Alibaba’s founder and China’s richest person, rose to 26.5 billion dollars. Of Asian billionaires only entrepreneur Li Ka-shing Hong Kong richer, according to the Bloomberg Billionaires Index.

The price of the Chinese e-commerce company closed Friday on Wall Street 38 percent

higher at $ 93.89. With a minimum yield of nearly $ 22 billion IPO of Alibaba was the largest ever in the United States.

Alibaba benefited since the establishment in 1999 of China’s burgeoning consumer class. Meanwhile, the company dominates the e-commerce industry in the country with 1.36 billion people. According to the current share price is Alibaba now 231 billion dollars worth, making it bigger than Amazon and eBay combined.

The company operates a network of Chinese Internet market place for the business and consumer markets and realized last quarter sales of approximately 2.5 billion dollars.