Following the largest stock offer ever, Jack Ma, Founder of internet based e-commerce business, Alibaba is now China's richest person with a $25 billion fortune. China is world's second-largest economy.

Magazine Publisher Hurun Report, a monthly magazine renowned for its "China Rich List" said, "It has been an amazing year for China's best tycoons despite the jitters about the Chinese economy."

Jack Ma had set-up his company 15 years ago and had to urge his friends to give him US$60,000 to start Alibaba after he was rejected by US venture capitalist. The company spearheaded by Ma valued at over US $200 billion after being listed on the NewYork Stock Exchage on Sept 19.

Ma gained over $800 million selling shares in his 15 years old company. On the basis of his company filings, the amount of his remaining stake of 7.8 percent climbed over $17 billion by Monday. Alibaba was listed on New York Stock Exchange on Friday.

Last year, Ma's estimated wealth was just above $4.0 billion as a result, he was not even placed in the top 20.

Alibab's listing had a whooping raise of $25 billion. As reported by Hurun report, only Simon Xie, one of Alibaba's co-founder and now vice president of its China investment team made the rich list.

Property tycoon, Wang Jianlin's Wanda company that bought US cinema chain AMC Entertainment was first last year but it dropped to second place with a fortune of $24.2 billion.

With $20.8 billion, Li Hejun of renewable energy firm Hanergy, was at third place apace with Zong Qinghou of Wahaha. Further, Pony Ma of Tencent completed the top five with $18.1 billion. Tencent is operator of WeChat, China's most popular Instant Messenger.

Road-builder China Pacific Construction's father and son team of Yan Jiehe and Yan Hao were in the seventh position while Yan Bin, real estate mogul of Reignwood was in eighth place.

Hurun Report confirmed that number of US dollar billionaire in China went up to 354 with an increase of 39 from last year.