Tsai Divorce, Business Unchanged
Alibaba Chairman Joe Tsai and Clara Wu Tsai Divorce Amicably, Business Holdings Secure
Anonymous
Key Points
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The Nets ownership deal culminated in 2019 with Joe Tsai acquiring the remaining shares and Barclays Center for about $2.35 billion, a record price at the time for a US sports franchise after he had already bought a 49% stake in 2018.
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A spokesperson described the divorce as mutual and said the relationship evolved into a partnership focused on running the Tsais' businesses and raising their children together.
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Joe Tsai is a co-founder of Alibaba, the Hangzhou-based tech company he helped establish in 1999, providing context for the scale of the Tsais' business empire.
Alibaba chairman and Brooklyn Nets owner Joe Tsai and his wife Clara Wu Tsai are divorcing after nearly 30 years of marriage, the couple confirmed. A spokesperson said the split was mutual and described their relationship as having "evolved into a partnership focused on running their businesses and raising their children," according to Bloomberg.
Despite the personal separation, neither the ownership nor the leadership of their $9.7 billion business empire will change, Bloomberg reported. That empire includes Alibaba, the Brooklyn Nets, the New York Liberty, and Brooklyn Sports & Entertainment (BSE Global).
No Leadership Changes for Nets, Liberty, or Alibaba
The divorce will not shake up any of the Tsais' business roles. Joe Tsai stays on as chairman of Alibaba and chairman of BSE Global. Clara Wu Tsai keeps her role as vice chair of BSE Global. Both will continue as governors of the New York Liberty, according to Yahoo Sports.
Neither plans to sell shares. Joe Tsai holds a 1.4% direct stake in Alibaba, plus a 0.5% stake through the Joe and Clara Tsai Foundation. Together, the couple own about 85% of Brooklyn Sports & Entertainment, Hoodline reported.
How Joe Tsai Built a Sports and Tech Empire
Joe Tsai co-founded Alibaba in Hangzhou, China, in 1999. The company grew into one of the world's largest tech firms. His fortune, combined with Clara Wu Tsai's, sits at roughly $9.7 billion, according to Bloomberg's wealth index.
Tsai entered the sports world in 2018 when he bought a 49% stake in the Brooklyn Nets. He acquired the remaining shares and Barclays Center in 2019 for about $2.35 billion — a record price at the time for a US sports franchise, Hoodline reported.
Children May Play a Future Role in the Business
The Tsais plan to involve their children in running their businesses over time. No formal ownership transfer has been announced yet, according to GuruFocus. The couple stressed that professional management is fully in place across all of their organizations.
The pair say they will keep working together on their shared business interests. Their statement framed the split as a practical evolution rather than a hostile break. "The divorce will not affect their business interests," HeadTopics reported.
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