Billionaire Jack Ma steps down as Alibaba Chairman on 55th birthday

Chinese e-commerce giant Alibaba's billionaire Co-founder, Jack Ma, stepped down from his role as Chairman on his 55th birthday on Tuesday. Ma co-founded Alibaba in 1999 and is currently the world's 20th richest person with $41.8 billion wealth, as per Bloomberg. A former English teacher, Ma last year said he will return to teaching after retirement.