The billionaire co-founder of Chinese e-commerce giant Alibaba purchased a 28,100-acre upstate property in the Adirondacks.
Jack Ma paid $23 million for the sprawling woodland estate, which he bought primarily for conservation purposes but also intends to use as a personal retreat, according to a spokesperson. Ma, who is known as a prominent supporter of conservation efforts in China, closed on the property in May.
The property, known as Brandon Park, features more than 9 miles of the St. Regis River, as well as lakes, streams, ponds, forests and a 1940s log camp behind its gated entrance, according to the Wall Street Journal. The estate also includes two homes, a horse barn, a trout fishery and a maple-syrup operation.
Alibaba, which set a record with its $25 million initial public offering last year, has directed 0.3 percent of its annual operating revenue to environmental protection efforts since 2010. [WSJ] – Rey Mashayekhi