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Alibaba’s Jack Ma and Executive Vice Chairman Cai Chongxin to Sell 30.6 Million Shares for Philanthropy

March 15, 2019 1:01 pm

BEIJING (PingWest) – Entities and philanthropic foundations owned by Alibaba’s Executive Chairman Jack Ma and Vice Chairman Cai Chongxin will sign a share sale agreement to sell a total of 30.6 million shares from this April to next April, of which 21.4 million shares are held by Jack Ma and 9.2 million by Cai Chongxin.

At the current Alibaba stock price of $180 per share, the total value of shares the two high executives will sell is $5.5 billion. The amount will be donated towards environmental protection, healthcare services, education, and other philanthropic causes.