Jack Ma said: "After tonight, I will start a new life. I believe that the world is good, there are many opportunities. I also love that excitement and that is the reason why I retired early".
At the ceremony, the billionaire co-founder of Alibaba from a small apartment in Hangzhou, eastern China more than 20 years ago shed tears when the staff performed skits and sang. The keyword " jack Ma cries" has become a trend on social network Weibo.
Near the end of the ceremony, Jack Ma, co-founder of Lucy Peng and CEO of Alibaba's technology department Wang Juan both wore rock star-style costumes with leather shirts and hairpins to perform Chinese songs. Co-founder Joe Tsai also dressed up in a Marilyn Monroe style with a white dress and a yellow hairpin on stage to perform together.
Jack Ma's retirement comes as Alibaba is becoming one of the most valuable listed companies in Asia, with a market capitalization of $460 billion. The company has more than 100,000 employees and has expanded to financial services, cloud electrification and artificial intelligence.
Jack Ma was an English teacher in Hangzhou. He co-founded Alibaba in 1999, making the company a leading e-commerce business and making him one of the most influential business masters in China.
On September 9, Jack Ma visited the company to say goodbye to his former colleagues. According to Shanghai.ist, the company's employees quickly surrounded the 55-year-old billionaire and applauded him.
Jack Ma retires on his 55th birthday, which is also the 20th anniversary of Alibaba.
Last year, Jack Ma announced that he would resign as chairman of Alibaba on September 10, 2019. He remained a member of the company's board of directors until 2020 and will continue to be a lifelong partner.
Jack Ma's position has been held by Daniel Zhang - CEO of Alibaba since 2015.
Jack Ma's exact plans for retirement are unclear. However, there is information that he wants to spend time on charity projects, especially related to education.
