This Chinese business magnate and co-founder of Alibaba Group once held the title of Asias richest person with a peak net worth of USD 61.7 billion. However three years ago Mukesh Ambani chairman of Reliance Industries surpassed him to reclaim the top spot. According to various media reports his current net worth stands at approximately USD 30 billion significantly lower than his 2020 peak. Jack Ma made headlines last year after stepping out of the public eye drawing speculation about his future endeavors amid a government-led crackdown on industries. In late 2023 he invested about USD 1.4 million in a small company named Hangzhou Mas Kitchen Food which specializes in selling farm products. This investment followed Mas retreat from public life due to increased government scrutiny particularly after his remarks that sparked a regulatory crackdown on his businesses Alibaba and Ant Group Co. Since his withdrawal Ma has shifted his focus to farming initiatives in line with the Chinese governments common prosperity agenda. This cause which promotes economic equality has garnered support from several influential business figures in China. About Jack Ma Born in 1964 in Hangzhou China Jack Mas early life was filled with challenges including numerous job rejections even from well-known companies like KFC. Despite these setbacks he remained determined and resilient. A significant turning point came in 1995 when Ma recognized the immense potential of the internet. He co-founded his first online venture China Pages and in 1999 he launched Alibaba a platform designed to connect Chinese manufacturers with global buyers. Under Mas leadership Alibaba expanded beyond e-commerce venturing into cloud computing digital payments (with Alipay) entertainment (Alibaba Pictures) and logistics (Cainiao Network). However his journey was not without its difficulties. His vocal criticism of Chinas regulatory system attracted government scrutiny leading to the suspension of Ant Groups highly anticipated IPO in 2020. About Alibaba Jack Ma co-founded Alibaba.com in 1999 with 17 co-founders in a small apartment in Hangzhou China. However this wasnt his first venture into business. After graduating from Hangzhou Normal University with a degree in English Ma founded his first company the Haibo Translation Agency in 1994 which provided English translation and interpretation services. Despite applying multiple times he was consistently rejected by Harvard Business School. Alibaba.com started as a business-to-business online marketplace but in 2003 Ma expanded his business with the launch of Taobao a consumer-to-consumer e-commerce platform. From its modest beginnings Alibaba has grown into the most valuable company in Asia with over 100000 employees. The company has diversified into areas such as financial services artificial intelligence cloud computing and entertainment. In September 2019 on his 55th birthday Ma stepped down as chairman of Alibaba and handed the leadership over to his chosen successor Daniel Zhang. However Ma remains on the board of the company. Over the past year Jack Ma has reduced his stake in Alibaba Group from 6.4% to 4.8% cashing out nearly USD 9.6 billion. Net worth of Mukesh Ambani Gautam Adani and Ratan Tata As of 2024 Mukesh Ambani holds the top position among Indias wealthiest individuals with a net worth of approximately USD 119.5 billion. He is followed closely by Gautam Adani whose net worth has surged to USD 116 billion making him the second richest person in India. According to the Hurun India Rich List 2024 Ratan Tata had a net worth of Rs 7900 crore at the time of his passing. He also held a 0.83% stake in Tata Sons.