Jack Ma, the Executive Chairman of Alibaba left the company on Tuesday after serving it for 20 years. He bid farewell with a solid rock star wig and a guitar performance at an employee event.
Also, the e-commerce company has been reportedly hosting a four-hour celebration in a stadium which is specifically built to accommodate 80,000 people along with performers in costumes and parades.
In 2018 he had already did an announcement regarding his retirement from Alibaba after co-founding the company in 1999. He had mentioned the reasons for leaving the company to pursue philanthropic endeavors geared toward education. His position will be acquired by CEO Daniel Zhang.
“After tonight I will start a new life,” Ma reportedly said at Tuesday’s event. “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.”
The company built a net worth of $460 billion and has been successful in expanding it into everything from digital payments to online banking to cloud computing. He became the richest man in China.