|Birth Name:||Lucy Peng|
|Net Worth:||$ 1.1 billion|
Chinese businessperson and one of the founding members of Alibaba Group and Ant Financial Services, Lucy Peng Ant Financial Services gained popularity as broke record for the world’s largest private fundraising found.
Born in 1972/73, Lucy Peng is a Chinese businesswoman. She is best known as one of the founders of Alibaba Group. Similarly, she has other roles as she serves as CEO of a couple of business initiatives of Alibaba Group. Lucy Peng Ant Financial Services is one of the Alibaba initiatives that has increased the worth of the company. In addition, she served as Chief People Officer and Chief Human Resources Officer in the Alibaba Group.
Lucy Peng was born Peng Lei Lucy Peng on 1972/73 in Hangzhou, China. She holds Chinese citizenship. Peng is also famous as Peng Lei. Regarding her education, she attended Hangzhou Institute of Commerce of Zhejiang Gongshang University. From there, she earned a degree in business administration in 1994.
Following the graduation, Peng went straight to teach at the Zhejiang University of Finance and Economics. She taught there for 5 years shortly after her marriage. Then, Peng joined Jack Ma with whom she co-founded Alibaba in September 1999. In addition to Peng joining as one of the founders of Alibaba, her husband also joined as a founding member.
Lucy Peng was responsible for managing the HR department of Alibaba. She herself was the creator of the department. One of her notable accomplishments include developing the “mom and pop” model at Alibaba. In this model, mom focused on teamwork and motivation while pop was responsible for performance assessments.
The hardworking founder, Lucy Peng became the CEO of Alipay from 2010 to 2013. During her tenure as the CEO, Alipay became the most successful gateway within China. It expanded over 800 million users in 2014 resulting in its value of $60 million. This was before Lucy Peng Ant Financial Services came in and smashed the market. Soon after leaving the position, Peng became the CEO of Alibaba Small and Micro Financial Services in 2013. Her progress in this role was looking for innovation in mobile payment system. With the significant roles, Peng attracted attention of many media workers who assumed her to be the next CEO of Alibaba. However, she did not get the position. Instead, another executive got it.
The following year, i.e. in 2014, Peng founded Ant Financial Services. The main motive of this business initiative was to support small businesses. Soon after a year, Alibaba and Ant Financial took 40% stake in Paytm. As a result, Peng became one of the members of the board of directors. Similarly, in 2016, Lucy Peng Ant Financial Services broke record for the world’s largest private fundraising found for an internet company with $4.5 billion. Consequently, this status of the company rose the company to $60 billion net worth.
There are other positions in Alibaba that Lucy Peng has handled apart from CEO of Alibaba Small and Micro Financial Services and Alipay. She served Alibaba as Chief People Officer and the Chief Human Resources Officer. Her HR department service lasts over 10 years during the time of which she looked after around 35,000 employees of Alibaba.
Lucy Peng married Sun Tongyu, who would later run Alibaba’s eBay marketplace, Taobao. However, she divorced him for a short period and remarried him. Porter Erisman described Peng as “funny down to earth leader” in his 2012 documentary.
Lucy Peng has worked all the way up to the success of Alibaba Group. Therefore, her accomplishments have caught attention of international magazines; especially Lucy Peng Ant Financial Services making huge profit. Forbes listed Peng as one in the list of the most powerful women in the world in 2016. Similarly, Forbes again ranked her #35 in their list of Power Women 2016 and #17 in the list of Asia Power Women in 2016. Moreover, Wealth-X ranked her third in the list of richest woman in the tech sector. Besides, Fortune ranked Peng #11 in Most Powerful Women in Asia.
One of the founders of one of today’s most successful eCommerce Alibaba Group, Lucy Peng Ant Financial Services is one of her biggest achievements. Her innovative working style and hard work paid off as she now boasts the net worth of US $ 1.1 billion. This net worth makes her one of the most powerful women in the world in addition to the richest.