Home Entertainment Jack Ma – the $60 billion self-made richest man of China!

Jack Ma – the $60 billion self-made richest man of China!

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Jack Ma
Jack Ma Profile, Alibaba.Com

Jack Ma born on 10 September 1964 and is a Chinese self-made business tycoon and an investor. Being a strong proponent of an open and market-driven economy, he is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate.

In this article, let’s look into some of the interesting facts about the Chinese business magnate. Before that take a look at this video from Goal Quest: 

Amazing facts about Jack Ma!

Only 4.8% stake in Alibaba!

Yes, according to the company’s recent regulatory filing, Alibaba Group Holding Ltd co-founder Jack Ma has cut his stake in the company over the past year to 4.8% from 6.2% in the recent past. The worth of this divestment was around $8.2 billion at its current share price.

An English teacher:

Earlier, the Chinese government would assign jobs to university graduates, who had little say in the matter. Mr. Ma was the only one of 500 students assigned to be a university teacher even though he trained to be high a school English teacher. Though it was an honor, Jack Ma couldn’t wait to finish his five-year stint and start his own business. By the way, he was making 120 renminbi, or $15 a month.

First start up was a flop:

Considering the potentiality of starting an internet business in China, Ma returned home and started his first business called ‘China Yellow Pages’. He used his life savings and a loan from a relative to arrange for $2,000 which was needed to get the business started.

After three and a half hours, only half his page had loaded when he invited his friends to his house to see his website.

The birth of Alibaba:

In 1999 a group of 18 students, who had become his friends, met at his apartment and put together the founding goals of what would become Alibaba. At first, he didn’t have that much trust in his friends. He told them they would only ever reach mid-management positions, never vice-president roles. Those roles would have to be taken by outside help.

Motivational employer!

If there’s something Ma knows how to do right, it is motivating his workforce. Even though he was the only real founder, Ma named the 18 students who were with him in the early days and shared a big chunk of the shares in Alibaba with them when he incorporated the business.

First meet with Donald Trump:

Jack Ma met with United States President  Donald Trump at Trump Tower on 9 January 2017, to discuss the potential of 1 million job openings in the following five years through Alibaba’s interest in the United States.

Check out this video on how Jack Ma described Donald Trump post his meeting:

Asked his wife to resign?

You heard it right! He hired his wife as “political commissar” of Alibaba. Chinese companies generally have political commissar. In the early days her role as political commissar mainly consisted in cooking and doing odd errands, but she eventually became the General Manager of Alibaba in China. Once she was at the pinnacle of her career, he made the gutsy move of asking her to step down and go back to caring for their kids and cooking his meals.

Jack Ma’s net worth:

His net worth was once estimated at $61.7 billion which has dwindled to $50.9 billion, making him making him the 25th richest person in the world, according to the Bloomberg Billionaires Index.

Jack Ma missing?

Jack Ma missing for over 2 months now and it is being speculated that Jack Ma’s wrangle with China’s authoritarian regime has led to a crackdown on his business in the country and his disappearance from public space.

Have more details about this Chinese business magnate? please let us know in the comments section.

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