Meet Lucy Peng, the elusive billionaire cofounder of Alibaba whose fintech startup Ant Financial is set to IPO at an estimated $200 billion valuation

   2020-08-04 11:08

  • Peng Lei, also known as Lucy Peng, was one of the 18 original cofounders of Alibaba, which now dominates ecommerce throughout China.
  • Peng garnered praise for her work as an executive at Alibaba, before taking chief roles at Alipay and Ant Financial, both of which are owned by Alibaba.
  • In July, Ant announced its plan to IPO. Analysts have vauled the company at $200 billion, positioning the financial giant as one of the world’s most valuable unicorns.
  • In her role as a founder, Peng has fundraised more than $22 billion, making her the highest-funded female founder in the world. She is reportedly worth $1.1 billion.
  • While Peng’s career speaks to her capabilities, the businesswoman has kept a low public profile.
  • Visit Business Insider’s homepage for more stories.

In 1999, Lucy Peng left her job as a professor to join 17 other entrepreneurs in launching Alibaba, an ecommerce website that would come to dominate online retail throughout China. Today, Alibaba is valued at more than $670 billion, and Peng’s critical role in the company’s early success has made her one of the most pedigreed executives in the world.

In 2010, Peng stepped away from Alibaba proper to become the CEO of Alipay, and in 2014 she cofounded Ant Financial Services, which is on the verge of an eye-popping IPO.



Both companies are under the Alibaba umbrella, meaning that Peng has never removed herself from the business she helped build; instead, after being tapped for the leadership positions by billionaire Jack Ma, Peng has only helped Alibaba expand its influence into different industries.

In her work fundraising for these ventures, Peng has raised more than $22 billion, making her the highest-funded female founder in the world. Peng has also amassed a personal fortune of over $1.1 billion, making her one of the wealthiest women in the world.

Below, Business Insider has put together a list of some of the major milestones in the tech executive’s life. Peng famously keeps a low public profile, so little is known about her that she has not disclosed herself. 

But what is known, from her beginnings as a business student to her professional ascendancy in China’s most dominant enterprise, is the stuff of founder lore. 


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