Alibaba’s founder has become China’s richest person

Jack Ma, Alibaba's chief executive

Alibaba’s blockbuster $25 billion stock offering has made Jack Ma the wealthiest man in China, according to a new survey, as investor enthusiasm for Chinese technology names enriches a new generation of Internet moguls.

Ma, founder and executive chairman of Alibaba Group Holding Ltd, and his family have a net worth of about $25 billion following last week’s initial public offering.

The shift reflects a flood of dollars into China’s rapidly growing Internet sector, as investors bet on firms such as Alibaba growing at a fast clip at home and becoming more globally competitive. China has seen a record 15 Internet IPOs so far this year.

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