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: Global, Chinese automakers debut new car models

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

IBM earnings dip as sales fall again

3 hours ago

Technology heavyweight IBM reported Monday lower profits in the first quarter following another drop in revenues, this time partly due to the strong dollar.

Global, Chinese automakers debut new car models

15 hours ago

Ford showed off its new Taurus and Nissan unveiled a midsize sedan designed for China on Monday at a Shanghai Auto Show that highlighted the commercial resurgence of lower-priced Chinese auto brands.

Germany still has some way to go to 'smart factories'

Apr 19, 2015

Collaborative robots and intelligent machinery may have wowed the crowds at this year's Hannover Messe, but experts see German industry as having some way to go towards incorporating them on factory floors ...

Taiwan factory workers win $18 mn over cancer deaths

Apr 17, 2015

Workers from a factory in Taiwan which leeched toxic chemicals they say resulted in 200 deaths from cancer and more than 1,000 other cases of the disease won a Tw$564.45 million ($18 million) payout from US electronics company ...

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.