Jack Ma Net Worth: Alibaba CEO's Hong Kong Home Is Worth $191 Million

Jack Ma’s net worth is among the highest in the world. Just the mere mention of his name gives the impression of massive wealth. How does a billionaire like him spend his fortune?

Jack Ma is the man behind the success of e-commerce Alibaba which is China’s number one online sales platform. His net worth is allegedly at $38 billion. After helming Alibaba for two decades, Ma decided to retire in September 2019. CEO Daniel Zhang is set to take over as the e-commerce’s chairman.

Others would think that Ma was born wealthy or that he was just lucky striking gold with Alibaba. The truth is that he worked hard for what he has right now. Luck probably played its part, too.

The Chinese billionaire likes to recount how he struggled in the early days as a teacher who receives a small pay. He faced countless rejections in school and even in the workplace, including at KFC. Jack Ma was denied entry to the Harvard University 10 times and was also rejected in fast food KFC.

Even Alibaba had a rough start in 2000 and only became stable in mid-2000s. Under his leadership and vision, Alibaba expanded to the media after buying the South China Morning Post and investing in movies such as "Mission: Impossible - Rogue Nation" and "Star Trek Beyond."

Alibaba’s value reached 1,100% growth since 2013. Ma’s 5.3% stake is now valued at $24.6 billion.

The 55-year-old former CEO has a lavish lifestyle. His Hong Kong home carries a price tag of at least $191 million, making the property the most expensive in the country. The home is 9,000 square feet and has three stories. Networthbuzz added that he has properties in Adirondacks, New York worth $23 million. The area features St. Regis River which flows right through it.

Ma likes to travel in style and owns an impressive fleet of cars and a private jet. Included in his car collection is BMW 760Li which he bought for $290,000. Aside from a BMW, he also has Mercedes Benz Maybach 62S and Roewe RX5 SUV.

The most jaw-dropping is the Gulfstream 550 which retails for $61.5 million. Owning a private jet may be common for the elites but maintaining it is another matter. An annual maintenance can easily cost $960,554.

With a massive fortune, Ma does not forget to help via his Jack Ma foundation. China’s richest man pledged $44 million to help hospitals and teachers. He has also donated to causes that protect the environment and improve the healthcare industry.