Joseph Tsai, the co-founder and executive vice-chairman of Alibaba, is set to become the next chairman of the e-commerce giant. Here’s what you need to know about the man who will take over from Jack Ma.
- Tsai is a Taiwanese-Canadian businessman who was born in Taiwan in 1964. He grew up in Taipei and attended high school in New Jersey before studying economics and East Asian studies at Yale University.
- After completing his studies, Tsai worked as a lawyer at Sullivan & Cromwell in New York City before joining the private equity firm Rosecliff in 1998.
- He has a reported net worth of Est $7.7 billion.
- Tsai co-founded Alibaba with Jack Ma in 1999 and helped guide the company through its initial public offering in 2014, which raised a record $25 billion.
- He is a vocal proponent of crypto and an active Web3 investor.
- He is a major investor in blockchain technology and has been vocal about his belief in the potential of cryptocurrencies like bitcoin.
- In addition to his role at Alibaba, Tsai is also the owner of the Brooklyn Nets basketball team and the co-founder of the San Diego-based investment firm Blue Pool Capital.
- Tsai is known for his philanthropic efforts, particularly in the area of conservation. He and his wife Clara Wu Tsai have donated millions of dollars to support environmental causes and have pledged to donate more than 50% of their wealth to charity.
- Tsai will become Chairman of Alibaba in September 2023, succeeding Daniel Zhan.
- Tsai’s appointment as chairman comes as Alibaba faces increased scrutiny from Chinese regulators over issues such as data privacy and anti-competitive practices. The company has also been impacted by the ongoing trade dispute between the US and China.
As Tsai prepares to take on his new role, many will be watching to see how he steers Alibaba through these challenges and continues to drive the company’s growth and innovation in the years ahead.