Joseph Tsai and his wife Clara Wu Tsai
Joseph Tsai and his wife Clara Wu Tsai (X)
Alibaba Group Chairman Joseph Tsai and his wife Clara Wu Tsai have decided to divorce after about 30 years of marriage. The Tsais are the owners of the Brooklyn Nets and New York Liberty.
“Clara Wu Tsai and Joe Tsai have decided to end their marriage, a decision they came to mutually and with great respect for one another,” a spokesperson for the couple told Page Six.
Over the years, the spokesperson said, Joseph and Clara's relationship evolved into more of a partnership — “one of running their businesses and raising their children together.”
“While they have grown apart, their divorce is amicable, and their relationship remains a strong, professional partnership,” the spokesperson said, adding that the business operations and ownership of Brooklyn Sports and Entertainment (BSE Global), the Brooklyn Nets or the New York Liberty will not be affected.
Joe and Clara have three adult children. They married in October 1996.
The business arrangement
The Tsais own 85% of Brooklyn Sports & Entertainment, the parent company of the National Basketball Association’s team, the Brooklyn Nets and the New York Liberty, a team competing in the Women’s National Basketball Association.
According to the Page Six report, Joe will remain chairman of BSE Global and Clara Wu will continue as its vice chair. They will also continue in their roles as governors of the New York Liberty.
The couple plans to ultimately involve their children in the businesses, according to the report.
“They will continue to own and be stewards of the teams with professional management in place as they always have. In the long run, they also plan to involve their children,” the spokesperson said.
What happens to Alibaba ownership?
Joe will continue as the chairman of Alibaba, the technology company he helped found. Alibaba's ownership will not be affected, and the couple does not plan to dispose of any of the company's shares, according to the report.
Tsai co-founded the Hangzhou-based tech firm with Jack Ma in 1999.
The Tsais own a 1.4% stake in the tech firm and control an additional 0.5% stake through the Joe and Clara Tsai Foundation, according to the Bloomberg Billionaires Index.
The Tsais net worth
Joe Tsai, 62, has a fortune of $9.7 billion, according to Bloomberg’s wealth index. The calculation includes the stakes in Alibaba and BSE Global held by Clara Wu Tsai.
In 2018, the Tsais acquired a 49% 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% stake in BSE Global in 2024.
The couple acquired full ownership of the Nets and Liberty in 2019 for $2.35 billion, which was the most expensive purchase of an American sports franchise at the time.
(With agency inputs)