Jack Ma: Biography and Story of China’s Richest Man

Jack Ma is known as the founder of Alibaba, the largest e-commerce in China. He is also one of the richest people in China. A story from Zero to Hero from Jack Ma. That’s the right phrase to apply to Jack Ma. When Alibaba took the floor on the stock exchange, it only took Jack Ma overnight to become the number one richest person in China. What’s the story?

Quick Info

Full Name Jack Ma
Date of Birth Hangzhou, September 10, 1964
Known as Founder of Alibaba.com
Jack Ma Net Worth 24.5 billion USD ( Forbes, 2024 )

Jack Ma Biography

Jack Ma was born in the Hangzhou area on September 10, 1964. Jack Ma’s parents were Ma Laifa and Cui Wencai. Stay up-to-date with Deltsapure! Provide accurate and updated news for readers.

Early Life

Jack Ma’s family is a family that lives hand to mouth or has a weak economy. His father only worked as a traditional musician and storyteller.

His family only lives on his father’s pension allowance, which is around 500 thousand rupiah per month. Unlike other children, little Jack Ma had to work hard to help his parents because his income was limited.

During his life, he had to deal with various problems. Ma was rejected at every school she wanted to study at. Even since elementary school, he had received rejection because his math exams were not very good.

Become a Tour Guide

Since the age of 12, the founder of Alibaba has been interested in learning English. For 8 years he worked as a tour guide at a hotel near Hangzhou Lake. He even rode his bicycle 40 minutes to a hotel where he could learn English.

Eight years of hanging out with many foreign tourists really changed Jack Ma’s perspective on life. Ma feels he thinks more globally than most other Chinese people. What the tourists told them was very different from everything Ma learned from teachers and books at school.

Rejected from work dozens of times

Fluent in English, Jack Ma later became an English teacher in Hangzhou. Before that he had applied for jobs dozens of times but was always rejected.

In Jack Ma’s biography, it is known that he even applied to be an employee at KFC, but of the 24 people who applied, only 23 were accepted, of which he was the only one who was not accepted.

In fact, he applied to 30 companies but all of these companies rejected his application, which is what made him change direction to become an English teacher because he was fluent in English besides Mandarin.

Founded Alibaba.com

Jack Ma first used the internet in 1995 when he searched for the words ‘beer’ and ‘China’. But at that time, Ma did not find the expected search results on the internet. Armed with curiosity, he then created a website for a Chinese translation service with a friend.

In just a few hours, he received many electronic letters (emails) which were enough to help him build the site. This incident later became the triggering factor for the founding of the Alibaba Group four years later. Now, Alibaba is the largest online retailer in China and is in second place in the world after Wal-Mart.

Its first site, Alibaba.com, was the first place to connect Chinese exporters with buyers abroad. The company was also able to quickly attract investors.

The Largest E-Commerce in China

Currently, Alibaba is aiming to beat eBay, an online buying and selling site headquartered in the United States (US). Thanks to his persistence, two Alibaba sites, Taobao Marketplace and Tmall.com, now dominate China’s delivery portal system.

Jack Ma’s company is also the largest e-commerce company in the country with the largest population in the world. Without having the slightest knowledge in the field of technology and computing, Jack Ma was able to become the founder of the largest online retailer in China, Alibaba Group. Thanks to his business, this former English teacher succeeded in becoming one of the richest billionaires in the world.

Many entrepreneurs nicknamed him ‘Crazy Jack’ because of the super crazy and fantastic business ideas he came up with. No one was sure that Jack could realize all his business ideas.

Rather than talking about the greatness of the company, he prefers to discuss how Alibaba can help many consumers, create jobs and serve society.

In the US, Ma found his dream. He visited Silicon Valley and saw lots of cars passing by and super magnificent buildings. That’s where he found his fighting spirit to become a successful man.

He used to be just an English teacher in this bamboo curtain country, then turned into the number one billionaire in the country and entered the ranks of the 26th richest people in the world thanks to his business, namely Alibaba.com, which was successful in its initial public offering or IPO (Initial Public Offering) first which then made him become a new rich man.

Become the Richest Person in China

In August 2014, Jack Ma actually held the title of China’s richest billionaire. At that time, it was predicted that Ma’s assets would skyrocket when Alibaba released its first shares in the US. Sure enough, Alibaba’s IPO on the New York stock exchange scored fantastic numbers and set a world record.

Thanks to the share value soaring by 38 percent, Ma’s wealth increased to US$ 26.5 billion. He was later ordained the richest person in China. With his wealth, he is in 23rd position in the world’s billionaire rankings.

Several other billionaires said that this was just the beginning, Alibaba’s share price would continue to soar and pour more money into Ma’s pockets. Ma’s passion has transformed a young man who was rejected by schools and dozens of companies into one of the richest billionaires in the world.

Jack Ma Company

Jack Ma is known as one of the richest people in China who succeeded in founding e-commerce Alibaba.com which then transformed into one of the largest e-commerce in China and in the world competing fiercely with Amazon, founded by Jeff Bezos, and Ebay, founded by Pierre Omidyar.

Furthermore, Jack Ma’s company became known as the Alibaba Group, which has dozens of subsidiaries engaged in trade, technology and financial services. Some well-known ones include Ant Financial, Alibaba.com, AliPay (China) Internet Technology.

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