Alibaba Group Holding Ltd. set a new record in its $21.8 billion initial public offering.
The company’s debut has generated a lot of attention and unsurprisingly, Jack Ma, the founder of the company, has become a name that more and more people are becoming familiar with.
Ma now has a chance to completely transform China’s landscape by focusing on pressing social and environmental concerns.
Former U.S. President Bill Clinton said:
“They have 300 million people a week doing business on Alibaba. The chances of his being able to change China for the better are quite high.”
“Jack Ma has the chance to totally change the landscape now. This is an incredibly important moment in China.”
Ma and Clinton have met and spoken before. Clinton recently took a trip to Asia to oversee his philanthropic foundations efforts in the area, and Ma has been in contact with Clinton to learn more about how global-scale philanthropy operates.
Jack Ma founded the largest e-commerce company in the world.
Ma will be attending the Clinton Global Initiative. He is set to make a speech in a conference session on Sept 23 along with General Motors Co. CEO Mary Barra – the same day Obama and Jim Yong Kim will make a speech too.
Clinton has said that Ma could use Alibaba’s success to help pave the way for Chinese philanthropy.
“If he does it right he will also have a big empowering impact on other people who don’t have nearly as much money but they can make a difference.”