Jack Ma is one of the new entries in the top 10 list of China's richest people. The other new names are Richard Liu Qiangdong, who founded JD.com, and Lei Jun, who founded Xiaomi, a smartphone making company. Qiangdong is ranked at number 9 while Jun ranks at 10.
Ma's fortune of $25 billion is six times his calculated wealth in 2013, which was a little more than $4 billion.
Though the Chinese economy had its share of jitters, the year has been an impressive one so far for the best tycoons of China.
"Ma is the 11th Number One in the 16 years of the Hurun Rich List," according to the Hurun Report, a luxury magazine publication based in China.
Ma raked in over $800 million by selling company shares. His remaining stake of 7.8 percent of Alibaba, which was listed on the NYSE a few days ago, surged to higher than $17 billion on Sept. 22.
Ma's entry has toppled Wang Jianlin from the top spot, bringing down Wang to rank 2. Wang, who leads the Dalian Wanda Group, one of China's biggest real estate developers, is said to have a net worth of $24.2 billion.
Ma used to be an English teacher before he became an Internet entrepreneur.
The third spot on the list is a tie between Li Hejun of the renewable energy company Hanergy and Wahaha's Zong Qinghou, a beverage magnate.
Wrapping up the top five is Pony Ma, who operates WeChat, the most popular instant messaging app in China. His net worth is reported to be more than $18 billion.
The second half of the list is dominated by those who are technologically inclined. The sixth spot lists Robin Li of Baidu.
The seventh spot went to the father-and-son tandem of Yan Hao and Yan Jiehe of China Pacific Construction. The eighth spot is occupied by real estate mogul Yan Bin of Reignwood.
The ranking of the two real estate companies is an indication of how the real estate and infrastructure industries in China have been affected by the nation's economic slowdown.
"The entrepreneural spirit that has caught China seems not to be abetting, with eight self-made individuals born in the '80s making the list. Any country would be proud of that," said Rupert Hoogewerf, chairman and chief researcher at Hurun Report.
