A former English teacher, Jack Ma cofounded Alibaba Group, one of the world’s largest e-commerce businesses. On Nov. 3, 2020 regulators halted a planned IPO of fintech giant Ant Group-where Ma is the largest individual shareholder-in Hong Kong and Shanghai. In September 2019, Jack Ma stepped down as Alibaba’s executive chairman and was succeeded by CEO Yong Zhang, also known as Daniel Zhang. Ma’s investments beyond Alibaba include a stake in Chinese media and entertainment company Huayi Brothers. Alibaba’s 2014 IPO in New York set a record as the world’s biggest public stock offering, raising $25 billion.