Ma's Bloomberg interview came as shares of China's second-largest e-commerce company, JD.com, plummeted as its CEO Li Qiangdong was arrested in the United States over an accusation of rape.
He has told the New York Times that he will now focus on philanthropy in education. In 1999, Jack Ma along with 17 others had founded Alibaba in Hangzhou, Zhejiang province.
Ma started his journey with just U.S. $ 60,000 - loaned to him by friends, and started Alibaba in 1999.
Known as Ma Yun in mainland China, he is scheduled to be in Russia next week to formalise Alibaba's venture with Mail.ru, the internet company owned by Russian tycoon Alisher Usmanov and sovereign wealth fund Russian Direct Investment Fund (RDIF).
As per a Reuters report, while Ma's retirement marks a milestone in the company's history, analysts believe and industry insiders believe that it is highly unlikely that his involvement in the company will change significantly.
Alibaba started as a business-to-business marketplace, but had enormous growth when it started selling to consumers.
Nearly two decades later, Alibaba is an internet juggernaut and Ma is among the world's richest men, with a net worth of more than $40 billion, according to the Bloomberg Billionaires Index.
Since handing off his CEO title to Daniel Zhang, Ma has spent 40 per cent of the year travelling the globe to preach about the virtues of globalisation and inter-connectedness, the potential of technology to improve lives, and about philanthropy.
Often compared to Amazon.com, Alibaba's parent company has e-commerce, online payment, banking, entertainment and cloud computing businesses.
But in an interview with Bloomberg TV broadcast on Friday, Ma indicated that he had plans to soon retire and that he wanted to follow Microsoft founder Bill Gates as one of the world's most prolific philanthropists.
Ma has inspired strong devotion among his employees and users, drawing comparisons with late Apple co-founder Steve Jobs - although he practised a more open management style.
This year, regulators shot down a $1.2 billion bid for money transfer service Moneygram International Inc (MG.O) by Ant Financial on national security grounds, which the company said was related to "geopolitical" changes.
A devotee of tai chi, he has made references to Chinese martial arts in both business strategy and corporate culture.
We have seen a lot of leaked photos of the real things as well as speculative names of what these devices will be called. The recent rumors revealed that there could be one more iPhone with big display inheriting the features from iPhone X .
The financial success and cult following of his movies did not parlay into much when it came to critical accolades. In one of his last interviews, Burt Reynolds admitted he regretted turning down roles in James Bond and Star Wars .
In the women's draw, Maria Sharapova was delivered a surprising upset at the hands of Spain's Carla Suárez Navarro. Start with this: Federer held two set points while serving for the second at 5-4, 40-15 and did not pull through.
Hurricane and storm surge warnings are in effect for George, Hancock, Harrison, Jackson, Pearl River, Stone, and counties. The last hurricane to strike the USA was Nate in October, coming ashore in Biloxi with 75 miles per hour (120 kph) winds.
The 24-year-old will be named a captain's pick on Tuesday as part of the United States team for this month's Ryder Cup in Paris. Amateur champion and has already developed a bond with Woods, looking to speculation about a possible pairing in France.
According to reports in Italy , the north London club tried to sign the 21-year-old on deadline day but failed with a £36m bid. Chris Smalling believes that Manchester United have always been soft targets for critics whenever there are any minor lapses.
Thiem was a straight sets victor over fifth-seed Kevin Anderson to set up a repeat of French Open final, where Nadal triumphed. Moving head-to-head in the thrilling clash, the tie-breaker in the decisive set seemed to be the fitting end of the match.
The excerpts said aides sometimes tried to limit what they saw as damaging behaviour by disregarding his instructions. Trump has spoken and written about the piece several times since its publication Wednesday.
China defends continued lending to Africa on the grounds that the continent still needs debt-funded infrastructure development. Over the past five years, there were more than 100 activities on cultural exchanges and 200 cultural cooperation projects.
Trump targets Nike as Kaepernick ads spark boycott calls
LeBron James , Odell Beckham Jr, Shaquem Griffin, Lacey Baker and Serena Williams are also part of the Just Do It campaign . "Wow", he said in a monolgue addressing the reaction to the campaign featuring Kaepernick's face that debuted this week.