Alibaba chairman Joseph Tsai and wife to divorce: Report

NEW YORK – Alibaba Group Holding Ltd chairman and Brooklyn Nets owner Joseph Tsai and his wife Clara Wu Tsai have decided to divorce after about 30 years of marriage, the New York Post reported, citing a statement.

Business operations and ownerships in the tech giant and sports groups will not be affected, the newspaper quoted a spokesperson for the couple as saying in the statement.

The Tsais own 85 per cent of Brooklyn Sports & Entertainment, the parent company of National Basketball Association’s team Brooklyn Nets and New York Liberty, a team competing in the Women’s National Basketball Association.

They decided mutually to end the marriage and still have “great respect” for one another, the report cited the statement as saying.

The decision will not affect the business operations of Brooklyn Sports and Entertainment, the Brooklyn Nets or the New York Liberty, according to the New York Post.

Joseph Tsai will remain chairman of BSE Global and Clara Wu Tsai stays on as vice-chair, the newspaper said.

They will continue in their roles as governors of New York Liberty, and said they plan to ultimately involve their children in the businesses, according to the report.

Tsai’s position as Alibaba chairman will be unchanged and the couple does not plan to dispose of any shares in the company, the report said.

The Tsais own a 1.4 per cent stake in the tech firm and control another 0.5 per cent holding through the Joe and Clara Tsai Foundation, according to the Bloomberg Billionaires Index.

Alibaba didn’t immediately respond to a request for comment outside office hours.

Joseph Tsai, 62, has a fortune of US$9.7 billion (S$12.44 billion), according to Bloomberg’s wealth index.

The calculation includes the stakes in Alibaba and BSE Global held by Clara Wu Tsai.

Tsai co-founded the Hangzhou-based tech firm with Jack Ma in 1999.

In 2018, the Tsais acquired a 49 per cent stake in Brooklyn Nets and the Barclays Center rights and purchased the remaining holding a year later.

Members of the billionaire Koch family bought a 15 per cent stake in BSE Global in 2024. BLOOMBERG