Alibaba's Jack Ma gets $2.8 bn richer in one day: Know how

Jack Ma’s net worth surged $2.8 billion overnight as Alibaba Group Holding Ltd forecast sales growth that topped every analyst’s estimate, despite China’s decelerating economy.   Ma, 52, is now the richest person in Asia and 14th wealthiest in the world, according to the Bloomberg Billionaires Index.

His net worth has climbed $8.5 billion this year to $41.8 billion.   The latest surge came after China’s largest e-commerce company forecast 45 to 49 per cent revenue growth in this financial year.....

This article is no longer available in our repository.

There could be multiple reasons for this.