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FX.co ★ Jack Ma's net worth went up $2.8 billion overnight

Jack Ma's net worth went up $2.8 billion overnight

Jack Ma's net worth went up $2.8 billion overnight

Some people dream about waking up rich and famous. Some people do not dream about it but continue to wake up rich and famous every day. The fortune of Jack Ma, the founder of the world's largest e-commerce company Alibaba, increased by almost $3 billion overnight. Money appeared literally from the future or rather from promises and hopes for growth in revenue in the future.

The get-rich-quick scheme is very simple. The company management publishes optimistic forecasts, in which it boldly expects growth in revenue. As a result, the company’s shares extend gains, capitalization is growing, the founders are getting richer. That is what happened this time. Alibaba released a strong outlook for the growth in financial revenues, its shares instantly jumped by 13 percent, and capitalization expanded by $42 billion to $355.02 billion. At the same time, Jack Ma’ net worth grew by $2.8 billion overnight. According to the Bloomberg Billionaires Index, Ma is the richest man in Asia and on the 14th place in the global rating. His fortune amounts to $41.8 billion. The businessman has a good chance to go up in the list of the world's richest people, as forecasts for increasing revenue are very promising. For example, in the fourth quarter of the last fiscal year ended March 31, Alibaba Group's net profit more than doubled to 10.65 billion yuan ($1.55 billion), or 4.35 yuan ($0.6) per share, from 5.31 billion yuan, or 2.99 yuan per share, in the same period last year. So there are a lot of rich and famous mornings ahead of Jack Ma.

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