Billions of people have trillions of dreams but only a few among them dare to give their dreams life and to convert their dreams into reality. We do dream of becoming a millionaire, a billionaire, or the richest person in the world but remember these bundles of money do not get piled up overnight, it takes a lot of courage, passion, patience, and a burning desire. People often come and go but the ones who do something unique have their name in history.
One such great personality, the billionaire, is ‘JACK MA’. Lets know about him and jack ma networth:
Brief introduction
Jack Ma is a Chinese business magnate who is the founder of Alibaba Group which is a Chinese multinational technology company specializing in e-commerce, internet, retail, and technology, and also an investor and a philanthropist. He was the former executive chairman of Alibaba who is now succeeded by Daniel Zhang. In addition to Alibaba Group, Jack Ma is also the founder of Yunfeng Capital which is a Shanghai-based private equity firm. He is one of the most powerful people in the world with a net worth of $36.4 billion (as of now) and ever growing. That is why everyone is interested in jack ma networth.
Early life and background
Jack Ma is known as ‘Ma Yun’ who was born on September 10th, 1964 in Hangzhou, Zhejiang, China. His hobbies included collecting crickets and he was able to differentiate among them only by their sounds. He was interested in learning English at a young age and at that time there were no places where the English language was taught. To learn English, he used to be a free guide for foreign visitors at a hotel, and in exchange for which they taught him the English language for nine years. He was given the name Jack by a foreign visitor as she found it difficult to pronounce his Chinese name.
Education and early career
He had a lot of failures in his early life ad who can imagine that one day everyone will seek for jack ma networth. He applied for jobs 30 times and got rejected, he even went to the police and was told that he was not good. When KFC got into China in his city he even applied there with 23 other people all got selected he was the only one who got rejected. He even applied for Harvard and that too for 10 times, but there also success did not happen to him. He graduated from Hangzhou Teachers College in 1988 with a BA in English. He started his career as an English teacher and continued there for years. He loved his job as a teacher though his pay was very less.
It was the first time in 1994 that Jack Ma heard about the term internet. At that time he started his first translation company called Hangzhou Haibo Translation agency. Then in 1995, he went to the US on behalf of the municipal government to learn more about the internet with the help of his colleagues. There he used the internet for the very first time and searched a word. He came across various countries providing information on that topic but there seemed to be no information from China and he even searched about China but nothing came to his hands. He felt that his country was lacking in the field of technology when compared with the other countries and from here he got an idea.
Jack Ma and his friends created a website containing information about China, it was his first website. Within a few hours of creating the website, he received emails from Chinese investors. Then in 1995, Jack Ma with his wife and friends gathered the money to start a company that was primarily started to create websites for other companies and this company earned a profit of $300000 within 3 years. He purchased his first computer at the age of 33. He worked in China’s international electronic commerce center-based IT company from 1998 to 1999. Therefater there is no way he moved back and the businesses increase the jack ma networth by leap and bound.
ALIBABA Group
In 1999 Jack Ma with his 17 friends created an e-Commerce website where exporters could put their products and buyers can buy directly from there which would be an online marketplace. He named it ‘ALIBABA’. It was a small business to small business e-commerce website in which he found potential growth. It got a foreign venture capital investment of $25 billion from Goldman Sachs and Softbank.
Then in 2003, a Chinese online shopping platform known as ‘Taobao’ was founded by him which rapidly rose and was offered by eBay to be purchased but Jack Ma denied the offer and got supported by an investment of $1 Billion by Yahoo co-founder Jerry Yang.
Retirement
On September 10th, 2019, Jack Ma officially retired from the position of Alibaba executive chairman. He celebrated his retirement in a stadium in Hangzhou. Now, Daniel Zhang is his successor.
Acting aspect
Jack Ma made his acting debut in 2017, in a short Kung fu film Gong Shou Dao. He also participated in singing and dancing performances during the 18th anniversary of the Alibaba group.
Philanthropy
Jack Ma is also a philanthropist who believes in working for the people and the welfare of society. He founded ‘Jack Ma Foundation’ in December 2014, which mainly focuses on education entrepreneurship, women’s leadership, medical support, and environmental protection. These programs help several people on different levels.
Awards
He has been honored with several accolades and titles, a few among them are:
- In 2005 he was selected as a Young Global Leader by the World Economic Forum.
- In 2005, fortune selected him as one of the 25 most powerful business people in Asia.
- In 2007, Business Week selected him as business person of the year.
- In 2009, he was one of the world’s 100 most powerful people.
The journey of Jack Ma is testimony to the fact that to be successful, it takes courage to accept rejection and one failure does not mean that you lost, instead try to find opportunities and make them yours.
“If you don’t give up, you still have a chance to win. Giving up a great failure”
– JACK MA
By LAVANYA MADAN
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