Jack Ma (trydailymoney.com)

Personal Life and Early Life

Jack Ma Yun is a Chinese business entrepreneur, businessman, and philanthropist who was born on September 10, 1964. He is the co-founder and former executive chairman of the international technology firm Alibaba Group. In addition, he co-founded the private equity firm Yunfeng Capital.

Jack Ma was born in the Chinese city of Hangzhou, Zhejiang. He started learning English at an early age by interacting with English speakers at the Hangzhou International Hotel. For nine years, Ma would ride his bicycle 27 kilometers (17 miles) to offer tourists tours of the region in order to perfect his English.

He grew up in a low-income home. Ma met Cathy Zhang, a fellow student from the Hangzhou region, while studying at university. They married soon after graduating in 1988, and in addition to working as a Chinese teacher, Zhang was involved in the early development of Ma’s companies, eventually becoming general manager of the main firm until 2004. The couple have three children: Ma Yuankun (also known as Jerry Ma), a boy born in 1992, Ma Yuanbao, a girl, and one additional.

Jack Ma Net Worth

$50 Billion

Jack Ma’s Salary

$4 Billion Per Year

Net Worth:$50 Billion
Salary:$4 Billion Per Year
Date of Birth:15th October 1964 (57 years)
Height:5 ft 3 in (161.0 cm)
Profession:Entrepreneur, Teacher, Businessperson

Career Achievements

According to Jack Ma’s autobiographical speech, after graduating from Hangzhou Normal University in 1988, he applied for 31 odd jobs and was rejected by all of them. “I applied for a job at KFC, and they replied, ‘You’re no good,'” Ma told interviewer Charlie Rose. “When KFC came to my city, I went there as well. There were twenty-four applicants for the job. Twenty-three applications were accepted. I was the lone [rejected] guy “.. China was in the first decade of Deng Xiaoping’s Chinese economic reform during this time.

Jack Ma originally learned about the Internet in 1994, and he also founded his first firm, Hangzhou Haibo Translation Agency. In early 1995, he traveled to the United States on behalf of the city administration, accompanied by colleagues who had introduced him to the Internet. Although he discovered beer-related material from numerous nations, he was startled to find none from China.

He also attempted to obtain basic knowledge on China, but was once again disappointed to discover none. As a result, he and a friend constructed a “ugly” website about China. He created the website at 9:40 a.m., and by 12:30 p.m., he had received letters from Chinese investors interested in learning more about him. Ma knew at this point that the Internet had a lot to offer.

Ma and He Yibing (a computer tutor) created the first China Pages office in April 1995, and Ma founded their second firm. On May 10, 1995, they registered the domain chinapages.com in the United States.

Ma began developing websites for Chinese businesses with the assistance of friends in the United States. Ma disclosed at a conference in 2010 that he has never written a line of code or made a single transaction to a client. At the age of 33, he bought his first computer.

Ma was the Head of the China International Electronic Commerce Center’s information technology firm from 1998 to 1999. In 1999, he resigned and went to Hangzhou with his team to launch Alibaba, a China-based business-to-business marketplace site, in his residence with a group of 18 friends.

Alibaba received a total of $25 million in international venture capital financing from Goldman Sachs and Softbank between October 1999 and January 2000.

Alibaba raised more than $25 billion in an initial public offering (IPO) on the New York Stock Exchange in September 2014.

After obtaining the entire $25 billion, the biggest initial public offering in US financial history, Alibaba became one of the world’s most valuable technology businesses.

On September 10, 2018, Ma stated that he will step down as executive chairman of Alibaba Group Holding in the following year. Ma has refuted rumors that he has been compelled to stand down by the Chinese government and has indicated that he want to focus on philanthropy through his foundation. As the current executive chairman, Daniel Zhang would then head Alibaba.

Jack Ma formally stepped down from Alibaba’s board of directors on October 1, 2020.

Jack Ma Net Worth

Jack Ma is a Chinese entrepreneur and investor with a net worth of $50 billion and earns $4 billion plus per year. He is best recognized as the co-founder and former executive chairman of Alibaba Group, a worldwide company. He is the richest man in China and the richest person on the Asian continent.

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