International

Jack Ma is a pretty good capitalist, especially for a communist.

China’s state-backed media revealed Monday that the Alibaba Group founder and chairman is officially a member of the Communist Party. Ma is the richest individual in Asia, with about a $35.8 billion fortune, according to Forbes, and Alibaba BABA, +3.78% is an internet juggernaut worth about $390 billion.

Ma’s political affiliation had never been publicly confirmed, and came as a surprise to some. Ma has not been seen as particularly cozy with Beijing, once quippingabout his relationship with the Chinese government: “As always, be in love with them, but don’t marry them.”

Ma has said he will step down as chairman of Alibaba next year, and the company said his Party membership does not affect operations. “Political affiliation of any executive does not influence the company’s business decision-making process,” an Alibaba spokesperson told Reuters.