Jack Ma richest in Asia

Jack Ma Yun, founder of US-listed Alibaba Group Holding Ltd, has become the richest person in Asia, Bloomberg reported over the weekend.

Ma, founder of China's e-commerce giant, passed Li Ka-shing, the Hong Kong property tycoon who had been the wealthiest person in Asia since April 5, 2012, the report said.

After Alibaba's IPO in the US in September, Ma has a $28.6 billion fortune while Li has a total wealth of $28.3 billion, according to Bloomberg.

After raising $259 billion in the IPO, Alibaba's market capitalization is bigger than Amazon.com Inc and eBay Inc combined, as well as many companies in the Standard & Poor's 500 Index, said the report.