Jack Ma, the founder of Chinese e-commerce giant Alibaba, has already planned what to do when he becomes a 90-year-old. "In my 80s or 90s, maybe I'm on the beach, I listen to the radio, and the news says that Alibaba does wonderfully, I will be profoundly happy,\u201d said Jack Ma in Mandarin at a World Economic Forum conference in Tianjin, China. On Wednesday, Jack Ma made headlines when he told Chinese news agency Xinhua that Alibaba no longer plans to create the 1 million new jobs in America that was previously forecast due to escalated tensions between the world's two largest economies. The iconic businessman who has recently announced his departure from the e-commerce company next year also said that he likes the admiration he gets, but he doesn\u2019t consider himself to be legendary. Rather than following him, people should carve their own identity, he added. In a recent interview, Jack Ma had hinted that he was planning to focus more on philanthropy and cited the Microsoft co-founder and philanthropist Bill Gates as an example. Jack Ma is China\u2019s third-richest person with a net worth of $36.6 billion according to Forbes magazine. He was quoted by the New York Times as saying that his retirement is not the end of an era, but \u201cthe beginning of an era.\u201d The Chinese businessman was born in September 1964 to Chinese traditional musician-storytellers living in Hangzhou. He started Alibaba.com in 1999 as a business-to-business marketplace. The venture was backed by $60,000 from 18 co-founders. Alibaba is considered as China's answer to global retailer Amazon.