singing on a stage before thousands of employees, jack mott is not your average corporate chairman --mott is not your average corporate chairman. -- he left the classroom to ride the internet wave as china's economy opened up in the 90's. first he started china's yellow pages. he persuaded 80 peoples to give him $60,000. he then recruited 17 partners and alibaba group was born. him even though he is over five his larger-than-life personality has helped alibaba grow into the e-commerce giant it is today. and performs at mass weddings for employees during corporate events. he is a huge fan of kung fu and even started a tai chi school with actor jet li. he quotes chinese philosophers at the meetings. his own wisdom has helped him grow his personal fortune to $22 billion. a is now china's richest man. it is not just about the money. he told charlie rose it ali baba ornot surpass microsoft walmart he will regret it for the rest of his life. isfor more on ali baba colorful found -- on alibaba's colorful founder i sat down with -- as it wasin 2000 just moving out of jack mom's apartment -- j

there is no question that jack mott is a man of big ambitions and the company he's built -- -- he's man with big a man with big ambitions but i would not count him out when it comes to targeting the biggest ipo in history. >> he's telling investors he's not going to try to hard for a superhigh valuation. what do you think of that? >> if the shares to increase the first day, i know everyone is working hard to ensure that is the case, the underwriters have the option to issue 50% -- 15% more shares which would put them at the record-breaking level, so that is the way they can do that and those are the numbers that count in history books. that is probably the way they could achieve it will stop >> compared to ali baba's chinese competitors, isn't he going for a lower price to earnings ratio esther mark why not push it higher? fax i don't think he's afraid of anything. certainly he learns from mistakes but if you go back and look at the alibaba.com ipo, there was an issue where it ended up trading down from where it was introduced all stop i think he wants to leave some money on the table b

compliments to you, david, and carl this morning on your respectful, efficient, and probing interview of jack mott. >> sometimes in life you're fortunate to be a journalist. how can i help? >> caller: his plan to help money to help young people succeed reminds me of bill gates and warren buffett. major kudos to you. to a favorite other subject of yours, beer. with asb miller unsuccessfully approaching the heineken family monday, there's been speculation about other possible spiritual consolidation. the growth is slowing by almost half and various others tap are being suggested as either buyers or sellers. monday on half time i expected stephanie to at least mention cramer fave constellation. is it getting lost in the shuffle? >> i think that a what's happened is people feel that if molson coors were able to buy miller, it forces the sale of miller that would make it so molson coors is a better performer than constellation. if you're just looking at earnings, constellation is a better play. basically what i'm saying is constellation is probably two down and seven up. i like that, but people think c

alibaba will do well as lock as jack mott stays in the good graces of the chinese political party.ect ate good investment but not the sort of thing i would do. >> peter, great having you on the problem. congratulations on the book "zero to one." >>> u.s. oil markets thriving despite threats from global groups like isis. what does it mean for the bottom line? we look ahead on "sunday morning futures." 3rd and 3. 58 seconds on the clock, what am i thinking about? foreign markets. asian debt that recognizes the shift in the global economy. you know, the kind that capitalizes on diversity across the credit spectrum and gets exposure to frontier and emerging markets. if you convert 4-quarter p/e of the s&p 500, its yield is doing a lot better... if you've had to become your own investment expert, maybe it's time for bny mellon, a different kind of wealth manager ...and black swans are unpredictable. hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...th

alibaba will do well as lock as jack mott stays in the good graces of the chinese political party.spect ate good investment but not the sort of thing i would do. >> peter, great having you on the problem. congratulations on the book "zero to one." >>> u.s. oil markets thriving despite threats from global groups like isis. what does it mean for the bottom line? we look ahead on "sunday morning futures." [ female announcer ] you can change your style to express your unique personality. so why can't you do the same with your eye color? ♪ we at alcon believe you can. introducing new air optix® colors prescription contact lenses. its unique 3-in-1 color technology blends with your own eye color for a naturally beautiful look with comfort all month long. ♪ virtually try on your perfect color and get a free trial offer at airoptixcolors.com. >>> the obama administration is struggling to cut off the millions of dollars in oil revenue that has made isis one of the wealthy nest terrorist groups in mç:yhistory. how do we stop isis from selling oil on the black market and enriching themselves?

jack mott has been spending a bit of money this year. we are talking about $4.6 billion in m&a, everything from taxi booking applications to other web portals. the roadshow in hong kong, beginning september 15. if you're at the waldorf astoria hotel in new york, you can see the new york version of the roadshow. >> we will keep our eyes on that for all of our viewers across this region, has well. this recent m&a story, what is the deal with all of these deals? it's got that complex ownership structure that it is putting together, which precluded it from listing in hong kong. >> investors may not be so happy about that. it doesn't give them much of a say in the big business decisions. it's a partnership structure where you have jack ma and the other key directors of the company taking a lead role in making the big decisions to read it's not the traditional shareholder relationship we generally see with public companies in the united states. nonetheless, the u.s. rules allowed for this dual class share structure, which hong kong did not all

the company's founder jack mott faced questions over the decision not to list in hong kong. listen in. >> people say that hong kong lost the alibaba deal. to me, alibaba missed this great opportunity in hong kong. and i think maybe it's because of our incapable communicating with hong kong. and i believe hong kong is changing. and in the past 15 years, i love hong kong and will continue to love hong kong and invest in hong kong. what we'll do in the future is give hong kong more business opportunities and create more business opportunities for people in hong kong to develop their career in china and in the world. and i speak from my heart. i love hong kong. >> let's bring in a guest now to talk about the alibaba ipo. jackson wong, you have been following this ipo closely. so much interest in alibaba given it has dominated the chinese market, but it is still not well-known globally. when do you think alibaba can replicate their success in other countries? >> well, i think alibaba is not in a hurry to replicate their motto in the u.s. but i think they can do that once they com

the bookses could today as the jack mott tour hits singapore. >> futures fall. the nasdaq suffered its largest one-day drop in 2 1/2 months yesterday. >> apple moving lower down over a percent. some new reports say the new iphone will not be available in china any time soon. >> with equity markets near record highs, companies buying back their own stock at record rates. humana, a $2 million plan just the latest of many. >>> ingalibaba taking another s in what could be the biggest ipo in world history. increasing its range from $66 to $68 a share, up from $60 to $66. that would raise $28 billion at the top of that range with potential to expand 25 million if they exercise the option to buy more stock to satisfy demand. you were so early on saying we would feel the effects before it ever came to the tape. >> thank you. >> i assume large degree that's what yesterday was about. >> a lot of friday growth selling. a lot of nasdaq underperformers. facebook, $200 billion company, almost identical characteristics on ebitda. also by the way on the growth, so that's a $200

i mentioned jack mott earlie-- a earlier. he talks about customer first.s nobody who talks customer first more than mr. bezos. shareholders are way down his list, too. >> if he found someone who made paintball guns, would he make them an offer they couldn't refuse? >> he probably would. >> they just keep coming with new additions. they are willing to spend the money. good luck against jack ma. better to be in the rocket game. >> although alibaba doesn't talk about taking on amazon in this market. >> no. it's never mentioned. thank you. >> they may dabble. they have users here in the u.s. no doubt about it. they dabble around the edges. >> a lot of people don't understand it's a big wholesaler and does a lot of cool stuff. >> b 2 b roots. no doubt about that. >>> when we come back, stock trading with jim. [ male announcer ] automotive innovation starts... right here. with a control pad that can read your handwriting, a wide-screen multimedia center, and a head-up display for enhanced driver focus. all inside a newly redesigned cabin of unrivaled style and c

they're mott playing the kings or queens. they're playing the jack nicklaus golf course there. it won't play like a typical course here. >> rose: is it long? >> it's long but it's heatingland, and there are cotton bogs and it's-- depending on the weather, late september in scotland, chances are it will -- >> rain. >> it will rain, yeah. just the off chance it might happen. >> rose: maybe windy? >> could happen, yeah. there could be sheep involved. it's -- >> yes, it could. >> rose: it will-- it will be an interesting 7 test because-- >> it will be an interesting test because of the design and the place we fiend our golf course. >> rose: jack is a good golf course designer? >> i think he'll be remembered as one of the greatests. >> rose: really? >> yes. >> rose: he's the donald ross of his time? >> i think he'll be remembered in that regard. mired field village. >> rose: that's where he's from, isn't it? >> yes, that's sort of his home course, if you like. he takes a lot of criticism from players-- and i was one of the-- you know, i hated playing jack nicklaus gowfl courses. >>

jack mott arrived just a minute ago. some 500 people are expected to be there for meetings at lunch. baltimore,mps up for boston, san francisco and los angeles, then overseas to hong kong. alibaba could raise $21 billion in the offering, making it the largest in u.s. history if the roadshow goes off as they hope. our bloomberg ipo reporter joins us from outside the waldorf astoria in new york. eight the scene for me. right behind me is the waldorf astoria. in front of me is jpmorgan, one of their underwriters. at the waldorf astoria, the line is outdoor. the meeting was supposed to start 30 minutes ago and they've seen an overabundance of investors wanting to come in. we're looking at about 800 according to the latest reports i've heard inside the room. 800 investors showed up. the executives expected to use the today, jack mott, the chairman and the vice chairman as well as the cfo. that is what people are here to see and that's what they are a bigto get all stop back crowd is a good sign. if there's a flub, you don't w