Jack Ma Yun is a Chinese business magnate, investor, and philanthropist. He is the co-founder and executive chairman of the Alibaba Group, a multinational technology conglomerate. As of August 2018, he is one of China's richest men with a net worth of US$38.6 billion, as well as one of the wealthiest people in the world. Ma's primary ideology was for an open and market driven economy.A prominent business figure, Ma is seen as a global ambassador for Chinese business and as such is frequently listed as one of the world's most powerful people by Forbes. In addition, he also serves as a role model for startup businesses. In 2017, he was ranked 2nd in the annual "World's 50 Greatest Leaders" list by Fortune. On 10 September 2018, he announced that he will retire from Alibaba and pursue educational work, effective in one year with Daniel Zhang succeeding him as executive chairman.Ma resigned from the position of the CEO of Alibaba Group and reportedly decided to eventually resign as chairman to focus on philanthropy.