Alibaba Group Holding Ltd. Chairman Jack Ma regained his spot as Asia’s richest person with a higher valuation for the company’s finance affiliate ahead of a stock sale that also created a dozen new billionaires.
Zhejiang Ant Small & Micro Financial Services Group Co., which owns payments processor Alipay, is valued at about $50 billion, according to people familiar with the matter. Ant Financial is weighing a private placement before going public in 2016, and details of the planned fundraising aren’t finalized, the people said last week, asking not to be identified because the discussions are private.
The latest valuation for Ant Financial boosted Ma’s fortune by about $10 billion to $36.4 billion as of Friday in New York, according to the Bloomberg Billionaires Index, overtaking Amazon.com Inc.’s Jeff Bezos. The new billionaires from the bigger valuation include the e-commerce giant’s chief executive officer Jonathan Lu and chief People Officer Lucy Peng.
“The entire e-payments market has just started,” said Li Yujie, an analyst at RHB Research Institute Sdn. in Hong Kong. “In the future, Alipay will capture a lot of this market. When it goes public, it will produce many new billionaires.”
"... It is only in this way that we can hope to arrive at truth, and fulfill the great responsibility which we hold to God and our country. Should I keep back my opinions at such a time, through fear of giving offense, I should consider myself as guilty of treason towards my country, and of an act of disloyalty toward the Majesty of Heaven, which I revere above all earthly kings."....I know not what course others may take; but as for me, give me liberty or give me death!"
Friday, February 6, 2015
THE RICHEST ASIAN IS JACK MA OF ALIBABA WITH A $36.4 BILLION FINANCIAL VALUE THIS 2015
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