Jack Ma, co-founder of Alibaba Group Holdings Ltd., is now considered the wealthiest person in China. The country's annual list, Hurun Report, shows that Ma gained a net worth of $25B on Friday and now is the nation's  biggest catch.

Alibaba was founded in Ma's small apartment located in Hanzhou, China about 15 years ago. He developed the largest IPO in the United States, possibly putting a mark in world history by climbing to the top of Hurun Report, a list of the ultra-wealthy.

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According to the report, Ma outstripped chair-persons Wang Juanlin of Wanda Group who has $24.2B and Li Jejun of Hanergy Group with $20.8B. Amidst Alibaba's market size of $231B, this IPO company is as valuable as Wal-Mart - that's the sum of Amazon and eBay together.

This is just Alibaba's starting point, yet the company is aggressively expanding in most parts of the world, including Europe and America. Despite the distressing economy of China, these two countries have allotted $1B in US-based startups for their investment.

2014 is indeed the best year for the increasing number of China's richest people which highlights the country's economic amendment concentrating on the wealth within a small privileged class. According to the report, about 300 members were on the list and if summed up, their wealth reaches up to $1.4 trillion - that's equal to 15% of the country's gross national product.  

Companies who made the famous list are primarily in fields related to technology as well as online retailing where five out of the ten entities profit from IT corporations. 

After Alibaba's market debut at the New York Stock Exchange on Friday, Jack Ma gained $18B from 3.90% to an overwhelming rise to 38% with having a market value of $214B - surpassing Amazon at 1.42%, Intel at 0.96%, and Facebook at 0.31%. 

TagsAlibaba IPO, Jack Ma, richest, richest man, stock exchange