Jack Ma set to cash-out up to $867 million in tomorrow’s Alibaba IPO

 
When Alibaba hits the US markets tomorrow, the ecommerce titan’s diminutive founder, Jack Ma, is set for a huge windfall. Ma has previously indicated that he’ll cash-out 12.75 million shares during the listing. Because Alibaba raised its share price range earlier this week, it means Ma will make even more than anticipated. So if Alibaba debuts at the top of its range, which is $68 per share, then Ma will pocket US$867 million.

Of course, the company chairman – and former CEO – holds a lot more shares. In total Ma has an approximate six percent stake in Alibaba, which he founded in 1999. Though he’ll hold onto those shares, they’ll be effectively worth about US$10 billion, presuming that Alibaba is worth about US$165 billion right after it floats.

That wealth, notes Forbes, excludes Ma’s ownership of other firms. Forbes adds that Ma has set some shares aside for charity, but it’s not clear how many.

Many of the available shares in the Alibaba IPO come from existing stakeholders. Yahoo (NASDAQ:YHOO), which is selling about eight percent of its Alibaba stake in the sale, will own 16 percent afterwards. Japan’s Softbank (TYO:9984), perhaps more wisely, is not selling a single one.

Alibaba lists on Friday morning in New York.

See: Here are all the must-see numbers on Alibaba ahead of record-breaking IPO

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