China's richest man, the founder of Alibaba online shopping, Jack Ma arrived in Ulaanbaatar earlier today (25^th July), at the invitation of Mongolian sumo wrestler Asashoryu (D.Davgadorj). He will stay in Mongolia until 27^th July. During his stay, he will  give a lecture to Mongolian students of technology.

The e-commerce company Alibaba was founded by Jack Ma in 1999 and is currently valued at USD 167 billion. The company is planning to sell nearly 12% of its shares and to raise $21.8 billion in investment. Alibaba is expected to sell 320.1 million in the $66-68 per share price range.

Jack Ma, 49, previously was an English teacher. Before Alibaba, he  founded the internet company, entitled "China Yellow Pages’ in 1995.