Alibaba Founders Establish Charitable Trusts

PR56594

HANGZHOU, China, Apr. 25th/ PRN=KYODO JBN /--

   GIFT OF 2% OF ALIBABA EQUITY TO FOCUS ON ENVIRONMENT, MEDICINE, EDUCATION

AND CULTURE,

   Jack Ma and Joe Tsai, co-founders of Alibaba Group Holding Limited

("Alibaba" or "the company"), today announced the establishment of personal

charitable trusts funded by share options granted by Alibaba to the charitable

trusts designated by Jack Ma and Joe Tsai for approximately two percent (2%) of

Alibaba’s equity. Their philanthropic activities will initially be focused on

causes including the environment, medicine, education and culture in China,

Hong Kong and abroad.  

   Jack Ma and Joe Tsai intend to make philanthropic contributions through

their respective personal charitable trusts, in part, alongside Alibaba's

corporate charitable foundation, which is managed by volunteer employees of the

company and contributes to initiatives in environmental awareness and

conservation. Since 2010, Alibaba has earmarked 0.3% of the company's annual

revenues to fund the Alibaba corporate charitable foundation, in addition to

Jack Ma's previously announced commitment to donate all of his economic

interests in a general partner of the Yunfeng Funds to the foundation.

   Alibaba and its employees have also dedicated significant time and resources

toward disaster relief efforts and other community activities in China and

internationally. Recently, Alibaba initiated a program to provide citizens with

water testing kits to encourage self-reporting and raise awareness of the water

pollution issues across China.

   Jack Ma said: "Alibaba was founded 15 years ago with a mission 'to make it

easy to do business anywhere' and a set of principles and values that emphasize

our responsibility to society. Giving back to society is deeply embedded in

Alibaba's culture and I am incredibly proud of the commitment that our

employees have shown to improving peoples' lives."

   The gifts to the respective charitable trusts of the two founders consist of

options granted by Alibaba to the charitable trusts designated by Jack Ma and

Joe Tsai to acquire ordinary shares of Alibaba. The option grant, approved by

Alibaba's board of directors last year, represents approximately two percent of

the equity in Alibaba and will be divided between the two trusts in

approximately the same proportion as the equity stakes currently held by the

two founders in Alibaba.

   "We hope to live in a world with bluer skies, cleaner water and better

access to healthcare. I am extremely focused on the environment, medical care

and education in China but concern and complaints cannot change the current

situation.  I am passionate about actively contributing and helping to solve

these problems. We must assume responsibility and take action to improve the

environment that our children will inherit, and this is why I strongly support

the efforts of The Nature Conservancy and agreed to take on the role of China

Chairman last year," Jack Ma continued.

   "I hope that by taking this path and drawing attention to these issues, we

raise awareness among even more people, and that we inspire and encourage our

peers, partners and other entrepreneurs to join us in our philanthropic

efforts," said Joe Tsai.

   The charitable initiative of Jack Ma and Joe Tsai was unanimously endorsed

by the board of directors of Alibaba.  

   Masayoshi Son, founder, Chairman and Chief Executive Officer of SoftBank

Corp. and a director of Alibaba, said: "I have tremendous respect for this

charitable initiative of Jack and Joe. I think it is truly outstanding that the

people of Alibaba are contributing to Chinese society in this way, and I fully

support the endeavor."

   Jackie Reses, Chief Development Officer of Yahoo, Inc. and a director of

Alibaba, said: "I am impressed by the thoughtfulness and community spirit

behind the establishment of the two personal charity trusts by Alibaba's

co-founders and by their strong desire to give back to the

community."            

   Support from business and philanthropic leaders:

   Michael R. Bloomberg, former Mayor of New York City and Founder of Bloomberg

Philanthropies, commented: "Jack Ma and Joe Tsai are both very generous

individuals who understand the importance of giving back and helping others,

which is reflected in the culture of Alibaba. I've spent time with both of them

to discuss their commitment to improving lives.  Their gifts set a new bar for

philanthropy in China, and hopefully other entrepreneurs and business leaders

around the world will follow in their footsteps."

   Bill Gates, Co-Chair of The Bill and Melinda Gates Foundation; Founder and

Technology Advisor of Microsoft Corp. commented: "This is terrific news. Jack

and Joe's generosity, leadership and example will do an immense amount of good,

particularly in this remarkable time in the development of philanthropy in

China."

   Warren Buffett, Trustee of The Bill and Melinda Gates Foundation; Chairman

and Chief Executive Officer of Berkshire Hathaway, commented: "Jack and Joe

have been extraordinary leaders in business and have now become leaders in

philanthropy.  I admire and applaud them."

About Jack Ma

   Jack Ma is the lead founder of Alibaba Group. Since founding the company in

1999, he served as chairman and chief executive officer for more than a decade.

Since May 2013, he has served as executive chairman of Alibaba Group and

continues to shape the company's strategic direction and management development.

   Mr. Ma, who holds a bachelor's degree in English from Hangzhou Teacher's

Institute, serves on the board of SoftBank Corp., a leading digital information

company that is publicly traded on the Tokyo Stock Exchange. He is also a

director of Huayi Brothers Media Corporation, a media company listed on the

Shenzhen Stock Exchange. In 2009, Mr. Ma became a trustee of The Nature

Conservancy's China program and joined the global board of directors of the

organization in 2010. Since May 2013, he has served as chair of The Nature

Conservancy's China board of directors. In September 2013, he joined the

Breakthrough Prize in Life Sciences Foundation as a director.  

   About Joe Tsai

   Joe Tsai is one of Alibaba Group's founders and has been a member of the

company's board of directors since its inception in 1999.  He previously served

as the company's chief financial officer and, since May 2013, has served as the

company's executive vice-chairman, responsible for strategic investments and

acquisitions.  From 1995 to 1999, Mr. Tsai worked in Hong Kong with Investor

AB, the main investment vehicle of Sweden's Wallenberg family, where he was

responsible for Asian private equity investments. Prior to that, he was vice

president and general counsel of Rosecliff, Inc., a management buyout firm

based in New York. Mr. Tsai is qualified to practice law in the State of New

York and, from 1990 to 1993, was an associate attorney in the tax group of

Sullivan & Cromwell LLP, a New York-based international law firm.

Mr. Tsai received his bachelor's degree in Economics and East Asian Studies

from Yale University and a juris doctor from Yale Law School. He is a trustee

of The Lawrenceville School in New Jersey, United States.

SOURCE: Osborne & Partners