Jack Ma Yun is the CEO of the e-commerce giant Alibaba. He is a Chinese businessman and an investor. The richest man in China is Jack Ma. His net worth is estimated to be around $37.1B. Jack also a stakeholder in the company Alipay. Its a company of his sister.
Talking about worth, Alibaba is worth more than Facebook. Also, the amount of goods in Alibaba is more than the combined goods of eBay and Amazon.
Jack Ma is a business figure for the Chinese and also seen in many of the business events. He also invited as the guest and brand ambassador for many events. Jack is listed as one of the powerful people according to Forbes. Not only these, but Jack also serves as a role model for startup businesses.
But the above figures and success didn’t come that easy. If rags to riches had a story, it would really resemble this. The Hardships faced by him is something where many quits.
Jack made the failure of his weapon and success in his glory. He rejected from many jobs on many occasions, but instead of being broke, he came back strong after each rejection.
Jack Ma Early life and Education
Jack was born on 10 September 1964 in Hangzhou, Zhejiang, China. He was one of those self-made billionaires whose beginning was in lots of hardships. His family consists of an elder brother and a younger sister. The parents of Jack Ma were Musicians-Storytellers. They earned their living by that job only. The income was not enough to provide a good living.
From childhood, Ma showed great interest in learning English. From a young age, Jack started learning English by conversing with English-speakers at Hangzhou international hotel. Also for learning English, he used to ride in his bicycle to a nearby park which was around 70 miles away, to give free tour guides to the foreigners.
He struggled to bring pass marks in his exams. Jack failed twice in his primary school and also failed trice in his middle school exams. Later Ma also struggled to make his way to the college. The entrance exams held once every year and Jack took four years to complete it. He did his graduation in BA in the year 1988 from the Hangzhou Normal University.
When Jack was in school, he was the head of the school council. After doing his graduation, he became a lecturer in English and International Trade at Hangzhou Dianzi University.
Jack Ma Career
Jack Ma says that failure and rejections are a part of life and we should get used to it. Overcoming the pain of rejections are a way to grow in life. Jack on his career faced many rejections. He once said that he applied for the job of police but rejected because he wasn’t good enough.
Also once, when KFC newly made their way to the city, they required employees. 24 people applied for the job and 23 people selected. The only person who was rejected was Jack Ma.
Also, he applied for the Harvard Business School for around 10 times but was rejected each time. Any normal person can lose their patience but there was something extra in this person.
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By the year 1994, Jack Ma heard about the Internet and its uses. By the year 1995, he decided to know more about the internet. He decided to learn more about the usefulness of it. Some of his USA friends helped him to learn more about it.
The first thing he searches about on the Internet was about ‘Beer’. After some research, he found that the results were from other countries but none were from China. Then after he tried to find some basics about China but was surprised to find none.
He then decided to do something for the nation and most importantly to himself. Jack along with his friends created a website named ugly.
First Company of Jack Ma
He along with his friends launched the website at around 9:40 AM and within some hours, started receiving emails from Chinese investors and wishing to know him. Soon Jack Ma realized that the internet had a lot to offer. By April of the year 1995, Jack Ma along with his wife and friends raised an amount of US$20,000 for their first company.
The company was named “China Pages” which was dedicated to making websites for companies. Within 3 years of their journey, they made a good amount of money and investment for their further progress.
He along with some of his friends continued this journey and started reaching new heights. He once mentioned that the first time he got connected to the web, he invited his friends and TV people over his house despite his slow dial-up connection.
Jack Ma got his first computer at the age of 33. He is thus an example that learning is not limited to any age.
First Investment in Alibaba
With hard work and patience, Jack helped Alibaba to reach new heights. By early 2000, Alibaba won twice an amount of $25 million foreign venture capital investment. Ma realized the potential in dropshipping and thus decided to improve the global e-commerce system. He founded Taobao Marketplace, Alipay, Ali Mama and Lynx etc and worked hard to excel them.
After the success of Taobao, eBay wanted to purchase it but Jack didn’t agree as he knew the company’s potential. As per reports, Alibaba raised around over $25 billion on the New York Stock Exchange in September 2014.
Honors and Awards of Jack Ma
Talking about awards and honors, Jack Ma received numerous of those. He with his dedication made his dream come true.
Below discussed some of his awards :
- Jack honored as one of “Top 10 Economic Personas of the Year” in the year 2004. China Central Television (CCTV) awarded him with this honor.
- He selected as a “Young Global Leader” by the World Economic Forum in Sep 2005.
- In the year 2005, he selected as one of “25 Most Powerful Businessperson in Asia” by Fortune.
- He selected as the “Businessperson of the Year” in the year 2007 by Businessweek.
- In the year 2008, Jack Ma featured as one of the 30 “World’s Best CEOs” by Barron’s.
- Jack listed as one of world’s 100 most powerful people by Time magazine in May 2009.
- Jack listed as one of China’s Most Powerful People by BusinessWeek.
- He selected as one of Top 10 Most Respected Entrepreneurs in China by Forbes China in 2009.
- Forbes Asia selected Jack as one of Asia’s Heroes of Philanthropy for his humanity and contribution to disaster relief and poverty in the year 2010.
- An honorary doctoral degree awarded to Jack by the Hong Kong University of Science and Technology in November of the year 2013.
- Jack became the chairman of the board for The Nature Conservancy’s China Program in the year 2013.
- Jack ranked as the 30th most powerful person in the world by Forbes in the year 2014.
- The Another prestigious award, the Asian Award honored Ma with Entrepreneur of the Year award in the year 2015.
- Ma ranked second on its World’s 50 Greatest Leaders by Fortune in the year 2017.
- On a survey by KPMG, Jack Ma selected third in global tech innovation visionary survey in the year 2017.
- Jack Ma honored with the degree of Doctor of Science in Technopreneurship in October 2017. He honored from De La Salle University-Manila, Philippines.
Jack Ma Net worth
- According to Forbes Jack Ma Net worth is $37.7B in February 2019. and He is 21st position on powerful people in the world.
- Jack Ma Past 10 Year Change is more than one county. In 2009 Jack Ma Net worth is $1.1B and 2019 his net worth is $37.7B.
Jack Ma Personal Life
Talking about personal life, Jack Ma leads a smooth one. He makes a good balance between his personal and professional life. As per reports, Jack met his partner back in the days when they were studying at the Hangzhou Normal University.
They decided to marry after graduation. So soon after graduation, the couples married in the last of 1980.
Initially, the couples started working as teachers before launching their websites. Jack Ma’s wife’s name is Zhang Ying. The couples blessed with two children.
Presently Jack lives leads a peaceful and happy life and lives in Hangzhou.
Jack Ma Social Media Profile
Talking about popularity, Jack Ma is well popular and inspiration to many. The success story of Jack inspires many youths.
He has around 150k+ followers on Facebook. While talking about his Twitter Profile, he has around 70k followers.
Jack Ma Thoughts and Quotes
- We should keep fighting without complaining to keep progressing.
- Either to go big i.e to aim for big or else to go home.
- Never to give up despite any situation. Today might be hard, tomorrow might be worse, but the day after tomorrow will definitely be sunshine.
- It’s good if we learn from our competitor but never copy them. Copying anyone will result in our own loss.
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