Bloomberg billionaire index released the latest data show that the 50 year old Alibaba founder Ma Yun has surpassed Hongkong's richest man Li Jiacheng, becoming the New Asia's richest man.

Li Jiacheng, 86, has been the richest man in Asia since April 5, 2012.

Li Jiacheng said in a spokesman in Hongkong, "I am very happy about the fact that young people in China are doing well."

A Alibaba spokesman declined to comment on Ma's net assets.

This year, Ma Yun's fortune increased by $25 billion, mainly due to the stock price rise of Alibaba after its listing.

According to Bloomberg data, at present, Ma's total wealth is 28 billion 600 million dollars, while Li Jiacheng is 28 billion 300 million dollars.

Yuanta Research analyst Francis Ying (Francis Ying) said: "the wealth of Chinese billionaires is growing faster, because China's economy is still developing and there is still room for growth.

Hongkong is already a mature market. "

Alibaba's market capitalization has reached 259 billion US dollars, surpassing the sum of Amazon and eBay, and only 8 companies in the S & P 500 index.

More than half of the wealth comes from his 6.3% Alibaba stake, which has a value of $16 billion 300 million.

He also owns nearly half of ant finance.

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In addition to the employee stock ownership plan, Ma's holdings of ant finance will probably be diluted in the next 3 to 5 years.

Alibaba said Ma won't get any economic benefits from the share dilution.

A record $25 billion financing was completed in the IPO (initial public offering) in September 18th, and the IPO issue price was $68 per share.

"If you look at the entire Chinese Internet market as a whole, this is no doubt very important," said Tony Chu, manager of RS Investment fund, which manages $22 billion 300 million.

He pointed out that Alibaba has become a global stock and you can't ignore it.

According to Bloomberg data, Li Jiacheng's wealth has fallen by 1 billion 900 million US dollars this year.

Although the stock price of Cheung Kong, a Li Jiacheng property company, has risen this year, some of its other investments, such as Heskey energy, have fallen.