1999 was founded by Ma Yun. As of March 25, 2024, Alibaba's largest shareholder was Ma Yun and his partner team. It is reported that Ma Yun and Cai Chongxin hold more shares in Alibaba than Softbank. Ma Yun has become the largest shareholder of Alibaba. Alibaba's partner system allows the partner team to nominate more than half of Alibaba's board members. Alibaba is still controlled by Ma Yun and his team.