Alibaba makes Jack Ma Richest man China and Masayoshi Son richest in Japan

Alibaba was up 38% on its first day and now has a market value of $231 billion.

At its closing share price on Friday, Alibaba has a market value of $231 billion, exceeding the combined market capitalizations of Amazon (AMZN.O) and eBay (EBAY.O), the two leading U.S. e-commerce companies.

Alibaba is valued at 39 times its estimated earnings per share for its current fiscal year, which ends in March. That is right in line with Facebook’s (FB.O) valuation of 39 times forward earnings but nowhere near the lofty valuation of’s multiple of 264.

Softbank owned a lot of Alibaba. Masayoshi Son surpassed Fast Retailing Co. Chairman Tadashi Yanai as Japan’s richest person yesterday after SoftBank Corp. surged 16 percent since the start of last week. Son, 57, has a net worth of $16.6 billion, according to the Bloomberg Billionaires Index. Softbank owns about 34 percent of Alibaba.

Jack Ma of Alibaba is now worth over $16 billion ($16 billion in Alibaba stock and about $2 billion in cash and other assets).

If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks