From a tourist guide, Harvard and KFC rejected, an English lecturer to becoming Alibaba’s founder, Jack Ma is China’s most charismatic entrepreneur assuredly.
Related: List of Success Stories
Jack Ma Net Worth
2nd well-heeled in China, Jack Ma is the 20th most affluent man on earth as per Forbes. As of 2021, Alibaba’s founder remains a net worth of $58.3 Billion.
How Much Does Jack Ma Make a Day
This simple-dressed, warm-smiled founder of a Chinese business empire makes $36,461.54 a day and $0.45 a second. Forbes reports that Jack pockets 56 percent more today than he did in 2019! Overwhelmed? Well, these estimates are exclusive of interest yields, stock market returns, and bonuses.
Biography of Jack Ma
Jack Ma – Full name and Age
Ma Yun is Jack Ma’s Chinese full name. Brought into Sept 10, 1964. His birthplace being Hangzhou – Zhejiang, Jack is 56 years old.
Jack Ma – Education
Jack got his English’s bachelor’s degree from Hangzhou Teacher’s Institute in 1988. This institute is Hangzhou Normal University now. After graduation, Jack Ma evolved as a lecturer at Hangzhou Dianzi University. He learned international trade and English at the university. High hopes for English lecturers, right?
Jack Ma’s career story is a perfect lesson of cutting the chase from dust biting events in life. Got sacked from 30 jobs, he has confessed to being rejected by police and KFC. He got ‘not good enough’ as a cause of rejection. Indeed, KFC couldn’t afford his potential, and this way he could have skirted the Alibaba boat!
In 1994, he started Haibo Translation Agency. This agency catered to English interpretation and translation services.
On Ma’s trip to the US next year in 1995, he discovered the Internet. He was traveling for the benefit of the Hangzhou city government and realized that the internet has null info about China. He was then determined on turning this moonshine egg into an extraordinary business opportunity. On his return, he brought an ugly website into being. Ma claims he received email offers from Chinese investors within 3 hours his website was online.
Amazed by the Internet’s potential, Ma with The Yibing opened a second company called chinapages.com in April 1995. He Yibing was a computer teacher. China Pages earned $800,000 worth within 3 years.
After China Pages hit the big time, Jack got encouraged and served website building services to Chinese companies.
Later, Jack Ma became a tech-company head. This company was founded by China’s Foreign Trade Ministry department, International Electronic Commerce Centre, in 1998-1999. Jack started Alibaba in 1999. To establish Alibaba, he with his team, left this position and got back to Hangzhou. Alibaba was developed by Jack Ma besides 18 friends in his apartment with an investment of 500,000 yuan.
Alibaba collected $25 million capital investment twice, in the years 1999 and 2000. This investment was aimed to enhance e-commerce platforms for Chinese company set-ups. Further, this investment also focused on addressing challenges encountered by SMEs.
From 2003 onwards, he tested the waters with enterprises like Alipay, Ali Mama, Taobao Marketplace, and Lynx. Taobao was eBay’s Chinese version. This online shopping website became popular in small time, eBay offered to take over Taobao. Jack declined the offer and garnered $1 billion in speculation from Yahoo’s fellow benefactor Jerry Yang.
The cumulative volume of Alibaba’s online transaction crossed 1 trillion yuan in 2012. From then on, Alibaba got numerous achievements, including raising the massive initial public offering of $25 billion in US history in 2014. Alibaba Group was fattened into nine main subsidiaries: Alipay, Juhuasuan, Alibaba.com, Taobao, Alibaba Cloud Computing, 1688.com, Tmall, AliExpress.com.
In 2014, Alibaba Group rebranded Alipay as Ant Group. It caters to digital payment services worldwide. Utilized more than PayPal, more than 1.3 billion people ‘March 2020’ utilize loans, insurance, and wealth management services by Ant Group.
In 2015, he built a business school in Hangzhou, Zhejiang Province, China.
China is the largest red wine consumer country on earth. Jack Ma seldom lets the opportunity slip his fingers, therefore in 2016, he took ownership of 3 massive French vineyards: Château de Sours in Bordeaux (198 acres), Château Perenne (158 acres) in Blaye, Côtes de Bordeaux, and Chateau Guerry (50 acres) in Côtes de Bourg. In September 2019, Jack Ma dissociated himself from Alibaba’s board. He wanted to devote himself to an environmental and philanthropic cause. In 2020, Ma has 4.2% ownership in Alibaba, which turns out to be $775 billion.
Jack Ma Family
His parents ‘Ma Laifa father, Cui Wencai mother’ were musicians. Jack met Zhang Ying ‘Cathy Zhang’ in his student days in Hangzhou. They got married in 1988. They have three children; daughter Ma Yuanbao, son Jerry Ma, and one other.
Jack Ma – The encouraging Life Story of Alibaba Founder
Jack Ma is not a one venture billionaire. His story has its ebbs and flows – failures and success, failure was his key to ultimate and charismatic tech success. Ma spent his early life in a middle-income family. Got his education, struggled with an open mind, and invented new avenues. Finally came up with the Alibaba group, a whole e-commerce family resides in this group. From $12 a month as an English teacher to Alibaba, Alibaba Group’s founder has a current net worth of $58.3 billion.
Besides, he also founded the Jack Ma Foundation as a good turn for society. Upgrading the environment, education, and public health is its motto. Additionally, this foundation has also been into earthquake victims’ donations and aiding underprivileged communities. In 2020, Jack Ma and Alibaba Foundation responded to the global pandemic, donated medical necessities across Asia, Europe, the US, and Africa.