Jack Ma Yu is a Chinese billionaire businessman, Investor, and philanthropist, and the greatest example of entrepreneurship. He is a co-founder of the multinational company The Alibaba Group. Jack Ma is the global brand ambassador of Chinese Business. He is also one of the most influential people in the world.
Early Life and Education
Jack Ma was born on 10 September 1964 in Hangzhou, China. He started learning English at a very young age, bought a pocket radio, and used to listen to English radio stations frequently. Jack Ma used to travel 27 kilometers every day on his Bicycle to guide Tourists to practice and learn English. He became pen pals with one of the tourists. The tourists named him ‘Jack’ as he could not pronounce his Chinese name properly.
Jack struggled there years to join the college because he failed the Chinese entrance exam and twice but passed on his third try. He attended Hangzhou Normal University. Jack Ma graduated with a Bachelor of Arts Degree in English in 1998. After graduation, Jack Ma wanted to study at Harvard University but he got rejected 10 times.
How Was Jack Ma’s Career?
Jack Ma faced rejection in 30 different jobs. He have gone to KFC with other 24 people and all of them were selected except him. In the mid-1990s he learned about the Internet. So he started his own company ‘Hangzhou Haibo Translation Agency’ which was an online translation agency.
In 1995 Jack Ma visited the United States with his friends. There he searched for information related to Beer. He was surprised not to find any information related to his country. Ma and his friends decided to create a website related to China.
They created the website ‘Ugly’ and launched it at 9.40 and by 12.30 PM, Jack started receiving mail from different Chinese investors. At that point, he realizes that the Internet has something great to offer. In 1998 he was the head of the IT company,
Which was established by the China International Electronic Commerce Centre, Ministry of Foreign Trade and Economic Cooperation. In 1999 Jack Ma resigned from his Job. Then he founded the company “Alibaba” with his friends. In October 1999 and January 2000, the company won $25 million in foreign Venture Capital Investment, which help in the growth of the company.
After the success of Alibaba Jack Ma wanted to improve the global E-commerce system. So he founded Taobao Marketplace, Alipay, Ali Mama, and Lynx. After Taobao started trending as the top e-commerce website on the internet, eBay offered to purchase Taobao. Ma rejected their offer, instead gaining support from Yahoo co-founder Jerry Yang with a $1 Billion Investment. In 2014 Alibaba became one of the most valuable tech companies in the world which raised around $25 billion in IPO on the New York Stock Exchange.
Personal Life
Jack Ma is married to a woman named Zhang Ying, whom he first met while studying at Hangzhou Teacher’s Institute. Zhang Ying also played a very important role while initiating Jack’s first business venture. The couples live a lavish life with their three children.
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How Much Is Jack Ma’s Net Worth?
According to different sources, his estimated net worth is around $35 billion as of June 2023. The Chinese Businessman is one of the richest people in the world and the fourth richest person in China. Jack Ma Has been successful in accumulating his income through entrepreneurship, brand endorsement, stakeholding, investments, and so on.
| Date of Birth | 10 September 1964 |
| Birth Place | Hangzhou, China |
| Gender | Male |
| Age | 58 years old |
| Nationality | Chinese |
| Wife/Spouse Name | Zhang Ying |
| Profession | Businessman, Investor, Philanthropist, Politician |
| Net Worth | $35 Billion |
| Height | 1.61cm |
| Weight | 56 kg |
