Outgoing Alibaba CEO Ma says he's 'old' for Web

May 03, 2013

Alibaba founder Jack Ma, the billionaire who has run Chinese e-commerce giant since 1999, says he's getting "a bit old" for the Internet.

That's what the outgoing chief executive told a charitable event in Santa Monica Thursday as he pledged $5 million towards a China-based fund that supports environmental outside China.

"I'm young for new things but I'm a bit old for the Internet," the 48-year-old said.

Ma's gift doubles the amount raised for the China Fund, an offshoot of the Arlington, Va.-based organization, The Nature Conservancy.

Ma steps down as CEO from Alibaba Group on May 10, as it prepares for an of stock that could create a windfall for Yahoo Inc., which owns nearly a quarter of the company.

Explore further: PayPal buys money-sending service Xoom in $890 mn deal

Related Stories

China grants Alibaba payment system license

May 26, 2011

(AP) -- An online payment system founded by Chinese e-commerce giant Alibaba Group was granted a government license, the company said Thursday, following an ownership change that rattled investors in partner Yahoo Inc.

Alibaba chief 'interested' in buying Yahoo!

Oct 03, 2011

The head of Chinese Internet giant Alibaba is "interested" in buying Yahoo! and has been approached by private equity firms and other groups about doing a deal, The Wall Street Journal reported on Monday.

China's Alibaba chief silent on Yahoo stake

Sep 10, 2011

The head of Chinese Internet giant Alibaba, Jack Ma, Saturday gave no hint of the future of Yahoo!'s stake in his firm but said he wasn't responsible for the recent ouster of its chief.

Jack Ma: English teacher turned Internet billionaire

May 21, 2012

After being knocked back by American venture capitalists in 1999, Jack Ma -- a cash-strapped entrepreneur -- convinced friends to give him $60,000 to start Chinese online retailer Alibaba.com.

Recommended for you

Hewlett-Packard moves forward with plan to split in two

9 hours ago

Hewlett-Packard is moving forward with plans to split into two companies, filing paperwork to create a new entity that will sell commercial technology, while a separate spinoff will sell personal computers and printers.

Global pharma firms grilled about tax in Australia

Jul 01, 2015

The world's top pharmaceutical companies Wednesday told an Australian parliamentary hearing they were compliant with local and international laws, despite claims they are charging higher prices to minimise tax.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.