Alibaba founder Jack Ma tops China rich list

Alibaba founder Jack Ma has become China's richest person following his company's record listing, according to a wealth survey by the Hurun Report.

Mr Ma tops its annual rich list with a fortune of $25bn (£15bn), followed by Wanda Group chairman Wang Jianlin.

Internet billionaires account for five of China's 10 richest people this year, eclipsing property tycoons who have traditionally dominated the list.

The list also includes the head of Tencent, Pony Ma.

Other tech titans on the list include the co-founder of Chinese search group Baidu, Robin Li, and the founder of online retailer JD.com, Richard Liu Qiangdong.

Mr Liu, who is ranked 10th on the super-rich list, also saw his company listed in New York in August this year.

Hurun Report chairman and chief researcher Rupert Hoogewerf said the list shows "the entrepreneurial spirit that has caught China seems not to be abating".

"Jack Ma is the

Alibaba shares surge in their NY stock market debut

Alibaba's shares opened significantly above their initial price on the New York Stock Exchange (NYSE) on Friday, a sign of the excitement surrounding the Chinese internet giant.

Shares in the company made their debut in the US at $92.70 (£57), after being priced at $68 late on Thursday.

More than 100 million shares were traded in the minutes after the stock was launched - more than Twitter.

The NYSE was festooned with the orange and white logos of the company to herald its arrival on public markets.

The company raised nearly $21.8bn in its share sale, indicating strong investor appetite for China's e-commerce giant.

In opening at $92.70 per share, Alibaba is now valued at $227bn - making it significantly larger than Amazon and Facebook.

Investors are eager to get a piece of

Alibaba set to price shares as investors gear up for flotation

Chinese online giant Alibaba is expected to set the price of its shares later in what could be a record-breaking initial public offering (IPO).

Alibaba could raise between $22bn (£13.5bn) and $25bn when it lists its shares in New York.

The previous record IPO was set by Agricultural Bank of China's $22.1bn listing in 2010.

Alibaba said in an official filing on Monday that it expected to price its shares at between $66 and $68 a share.

The increase suggested demand for the firm's shares is high.

The listing could give Alibaba a total value of about