Jack Ma, who is known for his multi-billion-dollar online retailer website Alibaba, and for being the second richest billionaire in China, is now the proud owner of Bordeaux Estate and Chateau de Sours.

Eater reports that the push to buy up estates began in 2010, and 100 of the region's vineyards have become Chinese-owned since that time.

Notably, with this purchase, Ma joins the growing list of investors in Bordeaux region and he definitely has bigger plans for Chateau de Sours as well as the wine valley of Bordeaux.

According to Decanter, Ma intends to create a "mini Versailles." According to sources in Bordeaux, Château de Sours is currently undergoing huge renovations to its facade, courtyard and garden, with a full excavation program already underway of the limestone cellars behind the estate, which date back to 1785.

He also plans to turn the cellars into a barrel storage center and wine museum, which is under construction already. He also plans to renovate the chateau's façade, garden and courtyard.

Ma, according to The Daily Meal, has plans of teaming up with another Chinese investor, Zhao Wei, to centralize their assets and buy up other estates in California, Italy, New Zealand and Australia.

Martin Krajeweski, the previous owner of the famous estate will remain as a consultant for the estate "for the foreseeable future", and will be in charge of production and marketing.

Krajweski, however, will be keeping Clos Cantenac in St - Emilion entirely within family hands. His daughter Charlotte, will be joining the business. Notably, Krajweski also owns ARISTEA wines in South Africa, where he is currently in his second harvest.

Krajweski is building a house in Constantia, owns a distillery in Oslo, which is the first privately owned distillery since 1927, and where he currently produces a gin, an aquavit, and bitters.