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Jack Ma Officially Retires From Alibaba As He Turns 55

The co-founder of Alibaba, Jack Ma is retiring from the executive chairmanship of the company on his 55th birthday. He will be celebrating his retirement at a stadium in Hangzhou. He gave 20 years to Alibaba and built it a multibillion business, now he wants to work as a philanthropist. Back in 2014, he started Jack Ma Foundation and praised Bill and Melinda Gates Foundation for inspiring him to undertake such endeavor.

During a brief press interview Duncan Clark said that Jack Ma wanted to work in several fields like women empowerment, development, environment, philanthropy and development. Last September, Jack Ma stated that he’s planning to do significant things in the field of education before he turns 70.

Last year Jack Ma had made his intensions clear regarding leaving the company. Though he has stepped away from board and senior management post, Jack Ma will guide the company in shaping its future through the lifetime membership; which contains 36 people in total who have authority to provide nomination for board of directions.

Jack Ma used to teach English before he turned an entrepreneur and had a passion to educate students. Ma chose September 10 to step down from executive chairmanship of Alibaba. September 10 is also celebrated as teacher’s day in China and it’s also Ma’s birth date.

While addressing the press Duncan Clark said that Jack Ma is providing his business experience in Africa and he had announced for an entrepreneurial prize worth $10 million. He has also undertaken initiative regarding wildlife protection and has established great relationship with Paul Kagame who is one of the renowned African leaders.

During the month of August, Jack Ma said that women have played an essential role in the company since it was established nearly two decades ago. He also stated that it is the need of the hour to treat women and men equally and it is essential for companies to hire female leaders if they want to succeed in business.

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