Jack Ma, Alibaba Group’s main founder and one of the world’s richest men, will leave the board of SoftBank Group on June 25, the Japanese investment and technology firm said today.
SoftBank was one of Alibaba’s earliest investors, and currently owns a quarter of the China Internet heavyweight.
Ma, 55, a former English teacher who has a fortune worth $41.8 billion today on the Forbes Real-Time Billionaires List, stepped down as Alibaba’s chairman last year to focus on philanthropy. He still holds a board seat. Alibaba Vice Chairman Joe Tsai, 56, also an Alibaba founder, has in recent years become a major sport industry investor and owner of the NBA’s Brooklyn Nets. Tsai holds a fortune worth $11 billion on today’s Forbes Real-Time Billionaires List. Daniel Zhang has been Alibaba’s CEO since 2015 and became chairman last year after Ma left the post.
SoftBank Chairman Masayoshi Son is a member of Alibaba’s board. Son has a fortune worth $22.6 billion on the Forbes Real-Time Billionaires List today.