CURRENT AFFAIRS

Detailed explanation-1: -A former English teacher, Mr. Ma started Alibaba in 1999 and built it into one of the world’s most consequential e-commerce and digital payments companies, transforming how Chinese people shop and pay for things. That fueled his net worth to more than $40 billion, making him China’s richest man.

Detailed explanation-2: -In November 2022, reports surfaced that Ma had started living in Tokyo, Japan, instead of his home country. The reason for the same could be his controversial speech of October 2020, in which he accused Chinese State Banks of having a ‘pawnshop mentality’. The billionaire had announced his retirement in 2019.

Detailed explanation-3: -He has now resurfaced in Tokyo, the Financial Times reported on Tuesday, citing people with direct knowledge of his whereabouts. Ma, an outspoken teacher-turned-tech titan, was once a high-profile jet-setter who was the face of Chinese Big Tech.

Detailed explanation-4: -Alibaba Group was established in 1999 by 18 people led by Jack Ma, a former English teacher from Hangzhou, China.

Detailed explanation-5: -The estimated net worth of Jack Ma is $37.3 billion. Jack Ma is the richest man in China and one of the richest in the world.