Joe Tsai Announces End of Nearly 30-Year Marriage, No Sale of Alibaba Shares

Joe Tsai, Chairman of Alibaba (09988-HK) (BABA-US) Group and primary owner of the U.S. professional basketball team Brooklyn Nets, has decided with his wife Wu Minghua to end their nearly 30-year marriage.

The U.S. entertainment news outlet Page Six, part of the New York Post, published a statement from the couple's spokesperson on Friday the 31st, stating that the decision was mutual, both parties continue to respect each other, and the divorce process will proceed amicably.

The statement indicates that Joe Tsai and Wu Minghua's relationship has gradually evolved in recent years into a partnership focused on co-managing businesses and raising children. While their personal lives have grown increasingly distant, their professional collaboration will remain strong and professional.

The couple married in October 1996 and have three children. Currently, Joe Tsai primarily resides in Hong Kong, while Wu Minghua resides in the United States.

This divorce will not alter either party's current management roles at Brooklyn Sports Entertainment, the Brooklyn Nets, or the New York Liberty. Joe Tsai will continue as Chairman of Brooklyn Sports Entertainment and owner of the Nets, while Wu Minghua will remain Vice Chairman and owner of the Liberty.

The statement confirms that both will continue to manage and support the teams as owners, and the existing professional management team will continue operating as usual. In the long term, the couple also plans to gradually involve their three adult children in the management of related companies.

However, Brooklyn Sports Entertainment is not fully owned by the Tsai-Wu family. In 2024, the Koch family agreed to acquire a 15% minority stake, with Joe Tsai, Wu Minghua, and their family retaining the remaining shares and control of the company.

The statement explicitly states that Joe Tsai currently has no plans to sell any Alibaba shares, and his role as Chairman of Alibaba Group will not be affected by the divorce.

Joe Tsai, aged 62, is one of Alibaba's founding team members. According to Alibaba's official website, he joined the company in 1999 and has served as a director since its inception. He served as Chief Financial Officer for many years and was Executive Vice Chairman from 2013 to 2023, becoming Group Chairman in September 2023.

He also serves as a director at Ant Group. Prior to joining Alibaba, he worked in private equity investment and was employed at the U.S. law firm Sullivan & Cromwell. He holds a Bachelor's degree in Economics and a Juris Doctor (JD) from Yale University.

Wu Minghua, aged 60, previously served as General Manager of Taobao's Hong Kong operations and as Vice President at American Express. She holds a Bachelor's degree in International Relations, a Master's in International Policy from Stanford University, and an MBA from Harvard Business School. She is also involved in managing the Joe Tsai & Minghua Wu Foundation, the Social Justice Fund, and the Wu Tsai Human Performance Alliance, among other philanthropic and scientific research initiatives.