Cryptophile Businessperson Joseph Tsai to Become Alibaba’s New Chairman

An investor and cryptophile named Joseph Tsai will take over as chairman of Alibaba, the largest internet company in China.

Cryptophile Businessperson Joseph Tsai to Become Alibaba’s New Chairman

Earlier today, Tsai, a co-founder of the business and currently serving as executive vice chairman, was named by Alibaba Group Holding Limited to take over as chairman from Daniel Zhang.

Tsai had Previously Expressed His Fondness for Crypto

In a tweet from 2021, Tsai initially expressed his love for cryptocurrencies by simply writing, “I like crypto.” According to reports, he has also made additional investments in a variety of cryptocurrency firms, including taking part in the December 2022 $6.9 million fundraising effort for the web3 video platform Shibuya.

About Joseph Tsai

Taiwanese-Canadian businessman, lawyer, and philanthropist Joseph Tsai is a billionaire. He owns the Brooklyn Nets of the National Basketball Association (NBA), the New York Liberty of the Women’s National Basketball Association (WNBA), and the San Diego Seals of the National Lacrosse League. Also, Tsai has interests in numerous other professional sports franchises. He is also co-founder and vice chairman of the board of Alibaba Group, a Chinese multinational technology company.

About Alibaba

Chinese multinational technology corporation Alibaba Group Holding Limited, also known as Alibaba, specializes in e-commerce, retail, the Internet, and technology. The company, which was established on June 28, 1999, in Hangzhou, Zhejiang, offers electronic payment services, shopping search engines, cloud computing services, as well as consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) sales services via web portals. It manages a diversified portfolio of businesses in many different industries around the world.