Hurun China Rich List 2018: Alibaba's Jack Ma & family become richest Chinese

Jack Ma, co-founder and former executive chairman of China's Internet tycoon Alibaba Group, has climbed to the richest Chinese together with his family, with total assets exceeding 270 billion yuan (39 billion US dollars), up 35 percent from the previous year, in accordance with Hurun China Rich List, the country's first and most influential rich list.

Follow us on:

[rizamohammed]

Jack Ma is the Best Motivator, down to earth man..

[tmh]

The China economic impact of the trade war with the United States is likely to exacerbate the crisis in Chinese society.

So far, the tariffs imposed on Chinese goods have caused China’s stock and currency markets to fluctuate and public pessimism to spread. Even after the initial shock wears off, the tariffs’ impact on China’s employment, prices and financial system will be very real.

Depending on how the conflict develops, we may see large-scale business closures, a rise in unemployment and serious inflation. If the economy sinks into a recession, living standards may fall sharply.