Alibaba founder
Jack Ma's net worth saw a mammoth rise of $2.8 billion overnight after
Alibaba Group Holding Ltd. forecast sales growth going beyond predictions of all analysts.
The 52-year old has now become the richest person in Asia, and 14th richest in the entire world, says the
Bloomberg Billionaires Index, with a net worth of $41.8 billion.
It was after
Maggie Wu, the CFO of the Alibaba group said that the
revenue might grow by 45 to 49% in FY 2018, that the share prices surged 13% to a record high. Wu demonstrated how the company’s investments beyond online shopping are eventually paying off as a result of rise in the revenue.
These investments beyond online shopping include cloud computing services, music streaming, and videos as part of a campaign to get more digital advertising spending.
