Alibaba chairman Jack Ma has reportedly laid out HK$1.5 billion ($262 million) for Hong Kong’s most expensive home.
According to the South China Morning Post, Ma paid HK$151,653 per square foot for 9,000 square foot, three-story mansion on Hong Kong’s Victoria Peak. That’s $313,397 for every square metre, making it one of the world’s most expensive homes on a price per square metre basis.
Ma is yet to officially confirm he is the owner of 22 Barker Road, which was last sold to former PCCW deputy chairman Francis Yuen Tin-fan and his wife, Hang Seng Bank chief executive Rose Lee Wai-mun in 2000 for HK$163.5 million.
The home boasts a 20,000 square foot garden and 270-degree views of Victoria Harbour, which sounds like great thinking space for Ma, whose personal fortune declined an additional $1.02 billion on Wednesday. Here’s the view from an observation deck on The Peak:
The company Ma holds a 6.2% stake in, Alibaba Group Holding Ltd, yesterday dropped to its lowest level since going public in September.
The 50-year-old Ma’s still in healthy shape financially, though. His worth slid 2.4% to $42 billion as Alibaba stock dropped by 5.1%.
NOW WATCH: Executive Life videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.