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Alibaba’s founders set up charitable trust seen valued at $3 billion

29
Apr
2014

The founders of Chinese Internet company Alibaba Group Holding Ltd have set up a charitable trust focusing on the environment and health that could be worth as much as $3 billion, making it one of the biggest in Asia. Jack Ma, Alibabas founder and executive chair, and Joe Tsai, a co-founder of Alibaba, created the trust that will be funded by share options they own that represent about 2 percent of Alibabas equity, the company said in a statement on its microblog on Thursday.

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