Topline: Despite talks of a “low-key” farewell, Jack Ma tearfully bowed out of his 20-year tenure at Chinese e-commerce giant Alibaba with with huge party and musical performance for 60,000 employees in his hometown of Hangzhou, Reuters reports.

  • Alibaba cofounder Ma stepped down as executive chairman on Tuesday, fulfilling a pledge to retire on his 55th birthday. China’s richest man donned a wig and a leather jacket for part of the four-hour event that also marked the firm’s 20th anniversary.
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  • He was joined onstage by cofounder Joe Tsai, who dressed up as Marilyn Monroe complete with white dress and blonde wig, according to Reuters. Cofounder Lucy Peng and technology committee CEO Wang Jian also performed alongside him in wigs and leather jackets.
  • The phrase “Jack Ma has cried” reportedly went viral on Chinese social media platform Weibo after Ma’s eyes appeared to well up during the event.

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