Alibaba Group is a Chinese multinational holding conglomerate specialising in e-commerce, retail, Internet, AI and technology.
Alibaba transformed how the Chinese people shop and make purchases, and made Ma the richest man in the world's most populous country.
Mr Ma co-founded Alibaba in 1999 and has seen it become one of the world's biggest internet companies. Alibaba has more than 86,000 employees on staff. Jack Ma, who is much respected in China, and is the global face of Alibaba, will retire after he turns 54 on Monday.
"When Jack Ma speaks longingly of retirement from Alibaba, there's no reason not to take him at his word", said Silvers. But Ma on Thursday told Bloomberg TV that he was mulling an early retirement similar to Bill Gates' early exit from Microsoft. Ma also controls Ant Financial, the online financial platform that runs China's largest mobile payment system and money-market fund. "All these things that I've been preparing for 10 years". The New York Times is blocked in China by Communist Party censors and there was no official statement from Alibaba on Saturday.
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Park is charged with one count of conspiracy to commit computer fraud and abuse and one count of conspiracy to commit wire fraud. A 2015 version of the Chosun Expo website said it focused on gaming, gambling, e-payments and image recognition software.
According to the Bloomberg Billionaires Index, Mr Ma has a net worth of about $40bn (£30.96bn).
Alibaba has one of the strongest management teams in corporate China and, even if he steps down, Ma is likely to still have a role in setting top level strategy, said Brock Silvers, managing director of Kaiyuan Capital. Morley brought young Ma to Australia in 1985 for his first overseas trip, when he spent almost a month in Newcastle, an experience which the Chinese businessman said had "totally changed my future".
He is referred to as "Teacher Ma" within Alibaba. Despite leaving day-to-day operations, Ma will remain on the board and mentor Alibaba's management. He was released and returned to China, although the investigation remains active.
Since handing off his CEO title to Daniel Zhang, Ma has spent 40 per cent of the year travelling the globe to preach about the virtues of globalisation and inter-connectedness, the potential of technology to improve lives, and about philanthropy.
In an interview earlier this week, Ma had signaled that he was thinking about focusing more on philanthropy.