Jack Ma Yun is a Chinese business magnate and investor. He is the former and co-founder of the biggest E-commerce company which Alibaba. In addition to Alibaba Jack Ma is also the co-founder of Yunfeng Capital, a private equity firm. In August 2014, according to the Bloomberg Billionaires Index jack ma was considered as china’s richest man with a net worth of $ 21.8 billion.
“If you want to win in the 21st century, you have to empower others, making sure other people are better than you are. Then you will be successful.” ~ Jack Ma
In 2017 jack ma by fortune magazine jack ma was ranked second number on the list of “world 50 greatest leaders”. In 2018 he announced that he would retire from Alibaba and pursue other work. According to the latest news as of October 2021, he had a net worth of $42.3 billion. He is considered the fourth wealthiest person in China and also the wealthiest person in the world by Bloomberg Billionaires Index.
Jack Ma was born on 10 September 1964 in Hangzhou, Zhejiang, in China. He was born in a poor family his parent were street musicians and sometimes a storyteller. He was not good at studying which is why he failed many times. He failed his primary school examination two times he also failed three times during his middle school exam but a lot of failures didn’t mean that a person is a failure jack Ma proved this.
“Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.” ~ Jack Ma
"I believe it's not the technology that changes the world. It's the dreams behind the technology that change the world." ~ Jack Ma
At an early age, he was interested in learning English but in Chinese school, they focus on their Chinese language so he can’t learn English in school. In 1972 the American president was on a tour of China and he also come to Hangzhou due to this tourism increase in that area. This was the opportunity for jack ma to learn English so he cover 70 miles every day for 9 years then he learn English by guiding the tourist about his country.
In the meantime, he met one girl who give him the name jack because his Chinese name was a little hard for foreigners to pronounce. He was also failed that university test which was not considered a good university. He also applied to Harvard University but he was rejected 10 times. He was never a good student but he also convinced him that being a topper in the class doesn’t mean you are intelligent or successful forever and failing in an exam didn’t mean that you are a loser, for success person has to be passionate.
He completed his bachelor’s degree of Arts in English in 1988 from Hangzhou Normal University. When he was completing his bachelor he need money for this reason he applied for a job but he was rejected many times. When the KFC first restaurant was open in china KFC need people who can speak English and 24 people go for jobs and the only one who was rejected was Jack Ma. He also applied for a police job and from five people jack Ma was the only one who was rejected. He claim that I applied for 30 jobs but no one accepted him. Then he became a teacher at Hangzhou Dianzi University but as a teacher, his salary was so little which was $12 per month. The first time Jack Ma acquired a computer was when he was 33 years olds.
“Once in your life, try something. Work hard at something. Try to change. Nothing bad can happen.” ~ Jack Ma
In the mid-1990 he knows about the internet and see the new technology as a great business opportunity. In 1995 he visited the United States and there his friend told him more bout the internet, technology, and how to connect to websites. Having no experience in coding and in computers he found an Internet Company for china but unfortunately, his first two businesses were failed to succeed. Once when he created an online service for Chinese businesses called china pages.
This is the online business of jack ma ever where his work was to make websites for china businesses. Second when he started work as a translator after seeing the language barrier between his own country china and the United States. Jack ma was not disappointed by these failures because he faces a lot of failure and rejection in his whole life.
"If you want to your company to operate with wisdom and care, then women are best." ~ Jack Ma
Later jack ma gathered his 17 friends in his apartment and share his business idea with them and said them to invest in this idea. All of his friends like his idea of creating his online market place which was Alibaba. From here the story of the world's most successful shopping platform began.
In 1999 the E-commerce company Alibaba was launched. But at first, it was really hard for him.
“In the beginning I just wanted to survive. For the first three years, we made zero revenue. I remember many times when I was trying to pay up, the restaurant owner would say, 'Your bill was paid.' And there would be a note saying, 'Mr. Ma, I'm your customer on the Alibaba platform. I made a lot of money, and I know you don't, so I paid the bill.” ~ Jack Ma
But later the service and the company started attracting the people so the customers increased and this company also attracted investors from all over the world. Later Alibaba won $5 Million from Goldman Sachs and $20 Million from Softbank. This E-commerce company made jack ma a billionaire. Now jack ma business of Alibaba was going well but this was not the place where he wanted to be so to improve the E-commerce system globally in 2003 he founded Taobao Marketplace, Alipay, Ali Mama, and Lynx. After eBay offered to purchase the company Taobao but this offer was rejected by jack ma.
later Alibaba became the biggest platform from eBay and amazon also. Jack Ma is married to Zhang Ying and the couple has 3 kids.
"It doesn’t matter how wealthy or powerful you are, if you can’t enjoy the sunshine, you can’t be truly happy." ~ Jack Ma
"Try to find the right people, not the best people." Jack Ma
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Jack Ma Success Story
Jack Ma Biography
Jack Ma Journey