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Bird's-eye view of Zibo City in east China

BEIJING The most successful of China's entrepreneurs have created some of the world's biggest companies and amassed stunning fortunes. Often they are little known outside of China, but that is changing as they expand abroad and sell shares on Wall Street. Some of their counterparts in China's massive government-owned companies are making a mark as they try to instil innovation and efficiency in lumbering state giants. A look at key figures in Chinese business.


E-commerce leader: Jack Ma, co-founder and chairman of Alibaba Group.

Jack Ma

One of China's best-known entrepreneurs Romelu Lukaku Belgique Maillot , this former English teacher from the eastern city of Hangzhou is credited with laying the foundation for e-commerce in China by founding Alibaba in 1999 to link Chinese suppliers with retailers abroad. The company expanded into consumer e-commerce with its Taobao and Tmall platforms. In response to China's lack of infrastructure such as credit cards to support e-commerce, Alibaba created online payments service Alipay. The company has become the world's biggest online bazaar, with total sales exceeding those of Amazon Inc. and eBay combined. Last year, Alibaba also set another record Youri Tielemans Belgique Maillot , raising $25 billion on Wall Street in the biggest U.S. initial public stock offering to date. Ma's net worth soared to $25 billion, making him China's richest businessman. Ma is known for colorful behavior that includes dressing in a leather jacket and platinum wig to sing rock songs at the company's annual Alifest employee gathering, a raucous event in a soccer stadium before an audience of thousands. Ma, who turned 50 in September Kevin De Bruyne Belgique Maillot , stepped down in 2013 as chief executive, saying he was too old for the Internet, but stayed on as executive chairman.


Online innovator: Ma Huateng, co-founder and chairman of Tencent Holdings Ltd.

Ma Huateng

Ma Axel Witsel Belgique Maillot , who is no relation to Jack Ma, is the quiet counterpart to his flamboyant rival at Alibaba. The company co-founded by Ma Huateng in 1998 has gone from success to success, first in online games, then with its QQ instant message service and now as operator of the hugely popular WeChat social media platform Jan Vertonghen Belgique Maillot , which it says has 550 million active users. Its strategy is built on offering entry-level services for free, then charging for added features on games and linking social media to e-commerce and other money-making ventures. That has helped to make Tencent, with 25,000 employees Leander Dendoncker Belgique Maillot , one of the most valuable tech companies, with a market cap of $150 billion. Ma is worth $18 billion. Along with Alibaba and search engine Baidu Inc., the third member of China's trio of leading Internet companies, Tencent is rushing to build a presence in mobile Internet as Chinese Web surfers switch to going online via smartphones and tablets. Since the start of 2013 Thomas Vermaelen Belgique Maillot , Tencent has spent about $1 billion, according to Chinese news reports, to buy a 15 percent stake in China's No. 2 e-commerce company, JD Jordan Lukaku Belgique Maillot , and to acquire or create services in online video and taxi-hailing.


China's landlord: Wang Jianlin, chairman of Dalian Wanda Group.

Wang Jianlin

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Sat Mar 06, 2021 9:05 am