According to Forbes, Jack is worth an estimated $29 billion and this includes his 7.8% stake in the Alibaba Group — China's answer to Amazon — and close to 50% stake in the payment-processing service, Alipay.
Although Alibaba and Jack Ma aren't household names outside China, it's worth noting that Alibaba is worth more than Facebook and processes goods more than eBay and Amazon combined!
What's his story?
Ma Yun a.k.a. Jack Ma is among the rare breed of self-made billionaires with humble beginnings. Born in Hangzhou, south-east China, he was raised alongside his elder brother and younger sister at the rise of communist China and its isolation from the Western regions. His parents were poor and made a living as traditional Musicians-Storytellers. That income wasn't adequate to have them even considered as middle class at the time.
The objective of this busiess-to-business session will be to introduce Chinese and African leading business players to cultivate mutual understanding and initial relationships.
It will also serve to present and discuss the key opportunities and challenges facing the future development of the economies in Africa and the special role that technology, education, entrepreneurship and young people can play.