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  1. How Asia’s richest person spends his money? Well, he does not!

How Asia’s richest person spends his money? Well, he does not!

Asia's richest person and the CEO of e-commerce giant Alibaba Jack Ma's worth is USD 46.9 billion. How Jack ma spends his money?

By: | Updated: September 25, 2017 3:26 PM
Jack Ma, Alibaba, global expansion, mindset for global expansion, Alibaba global expansion, Whole Foods Market Forbes real-time billionaires list ranks Jack Ma as the richest person in Asia and 18th richest in the world. (Image: Reuters)

The CEO of e-commerce giant Alibaba, Jack Ma is Asia’s richest person. His worth is over USD 46.9 billion. How does Jack Ma spend his money? The answer is: He does not! Jack Ma says he does not have time to spend his money. “How much money can you spend in your life?” Jack Ma asks when people give him advice on spending his money.

“I don’t have time to spend money,” Jack Ma said in an interview with Bloomberg. According to him, people give him a lot of advice on spending his money in a better way but he says he does not have time to spend the money.

“People say, ‘Jack, you can spend money better than government, better than the other guys. So you have all the assets. How can you spend better?’ How much money can you spend in your life?” Jack Ma said.

Alibaba’s revenue in the 12 months ending in March 2017 surged by 56% to USD 23 billion. Forbes real-time billionaires list ranks Jack Ma as the richest person in Asia and 18th richest person in the world.

Jack Ma does not seem to enjoy being rich — or the richest. In 2014, Jack Ma while giving an interview on CNBC said that the richest people get surrounded by everyone asking for money. “When you’re (the) richest person in the world, everybody (is) surrounding you for money,” he said, adding he was considering ways to give his wealth back to society,” he told CNBC in an interview.

Jack Ma also believes in keeping himself away from not just money but power and glory too. At a global event in August, he said, “I try to stay away from power, money and glory. If you keep power in your office, you will be in trouble. If you keep money in your own pocket, you will be in trouble. If you put glory on your head, you will be in trouble.” Jack Ma’s Alibaba Group Holding Ltd is currently setting its sights on a new part of China’s USD 4 trillion retail sector: department stores. The e-commerce giant, which is also venturing into cloud computing and entertainment, is increasingly looking at traditional brick-and-mortar businesses.

Jack Ma’s Alibaba Group Holding Ltd is currently setting its sights on a new part of China’s USD 4 trillion retail sector: department stores. The e-commerce giant, which is also venturing into cloud computing and entertainment, is increasingly looking at traditional brick-and-mortar businesses.

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