Alibaba chairman Joe Tsai and wife Clara Wu announced the end of their nearly 30-year marriage, confirming no plans to sell shares. Tsai holds 270 million Alibaba shares, about 1.43 percent of issued shares. BABA-W shares rose as much as 6.32 percent to HKD 124.4 on Monday.
Alibaba chairman Joe Tsai and wife Clara Wu announced the end of their nearly 30-year marriage, with no plans to sell shares in the company.
"Joe's role as Alibaba chairman is not affected by this development," the couple said in a joint statement, confirming there are no plans to dispose of any shares in the tech giant.
According to Alibaba's annual report for the year ended March, Tsai held 270 million Alibaba shares through various forms, accounting for about 1.43 percent of the company's issued shares. Spousal interest accounted for 1.28 million shares, representing 0.01 percent of issued shares. The couple's combined fortune is estimated at $9.7 billion, according to the Bloomberg Billionaires Index.
BABA-W shares led the broader market higher on Monday, opening up 3.42 percent before reaching a peak of HKD 125.5. The stock last quoted at HKD 124.4, up 6.32 percent, with turnover of 66.08 million shares worth HKD 8.189 billion. Short selling data showed $1.63 billion in short positions, a ratio of 9.653 percent as of July 31.
The Tsais married in New York City in October 1996 and share three adult children. Joe, 62, co-founded Alibaba with Jack Ma in 1999 and currently serves as chairman. The couple also jointly owns 85 percent of Brooklyn Sports & Entertainment, the parent company of the NBA's Brooklyn Nets and WNBA's New York Liberty. The Koch family bought a 15 percent stake in BSE Global in 2024 at a $6 billion valuation, with the Nets and arena assets now worth $6.22 billion and the Liberty valued at $600 million, according to Sportico.
The divorce will not affect the business operations of Brooklyn Sports and Entertainment, the Brooklyn Nets or the New York Liberty, the couple said. Joe will remain chairman and Clara will remain vice chair of BSE, with Joe as governor of the Nets and Clara as governor of the Liberty. The couple said their relationship evolved into a professional partnership focused on running their businesses and raising their children, and they plan to involve their children in the long-term ownership of the sports teams.
The couple also runs the Joe and Clara Tsai Foundation, established in 2014, which supports projects in the arts, science and social justice. In 2020, they pledged $50 million to launch the Social Justice Fund aimed at expanding economic opportunity throughout Brooklyn. Clara later founded the Wu Tsai Human Performance Alliance in 2021, an organization dedicated to advancing research into elite athletic performance and women's sports.
The divorce creates short-term uncertainty over Alibaba's share ownership structure despite assurances of no selling. Investors will watch for any spousal share transfer filings that could affect voting dynamics at the company's next annual meeting.
This article is for informational purposes only and does not constitute investment advice.
