Jack Ma & Zeng Fanzhi Smash Estimates With $5.4M Painting Sale

Jack Ma’s stock may have taken a beating over the past year, but it appears he has a promising second income to keep him afloat.

A  painting by the Alibaba Chairman and Chinese artist Zeng Fanzhi went for $42.2 million HK ($5.4 million USD) on Sunday at Sotherby’s auction in Hong Kong. According to Sotherby’s, the sale was 21 times more than the price predicted by the auction house.

The $5.4 million USD, paid by Chinese entrepreneur Qian Fenglei, will be donated to the Paradise International Foundation, an environmental non-profit patronized by multiple Chinese philanthropists. Ma toured Sotherby’s before the sale, and said it was “an honor” to have his work sold for charity, according to Bloomberg.

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