Alibaba tycoon snaps up fancy condo

Central Station | 21 Jul 2021

Hongkonger Joe Tsai, an Alibaba cofounder, has splashed out a bit of his fortune on Manhattan's fanciest condo tower.

Tsai spent US$157 million (HK$1.22 billion) on two full floors at 220 Central Park South. The deal also includes a staff studio apartment on the 18th floor.

The 61st floor sold for US$51.4 million last year, while the 60th floor sold for US$50.9 million.

Alibaba shares have fallen by a third since October. Tsai's fellow Alibaba cofounder, Jack Ma, has largely retreated from public life after he criticized Chinese regulators.

Tsai remains executive vice chairman and the second-largest shareholder of Alibaba. Tsai, who is worth about US$10 billion, was born in Taiwan and splits his time between San Diego and Hong Kong.



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