What is Jack Ma’s net worth? Jack Ma net worth comes from Alibaba Group.
Jack Ma Yun is a Chinese business magnate, investor, and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational, technology conglomerate.
Jack Ma Net Worth
| Net Worth |
US$ 48.5 billion |
| Age |
56 (born 10 September 1964) |
| Country of Origin |
China |
| Source of Wealth |
Alibaba Group |
Early Life & Education
Jack Ma was born in Hangzhou, Zhejiang Province, China. He started studying English at a young age by speaking with English speakers at Hangzhou International Hotel. For nine years, he’d ride his bike 27 kilometers to give tourists tours of the area to practice his English. He became friends with correspondence with one of these foreigners, who called him “Jack” because he had difficulty pronouncing his Chinese name.
Ma attended the Hangzhou Institute of Teachers (currently known as Hangzhou Normal University) and graduated in 1988 with a Bachelor of Arts degree in English. After graduation, he became a lecturer in English and International Commerce at Hangzhou Dianzi University. He also claims that he applied ten times to Harvard Business School and was rejected each time.
Career
In 1988, Ma applied for 30 different odd jobs and was rejected by everyone. “I went for a job with the police; they said, ‘you’re no good'”, Ma told interviewer Charlie Rose. “I even went to KFC when it came to my city. Twenty-four people went for the job. Twenty-three were accepted. I was the only guy [rejected]…”
In 1994, Ma heard about the Internet and also started his first company, Hangzhou Haibo Translation Agency. In early 1995, he went to the US on behalf of the municipal government with colleagues who had helped introduce him to the Internet. In April 1995, Ma and He Yibing (a computer teacher) opened the first office for China Pages, and Ma started their second company. On 10 May 1995, they registered the domain chinapages.com in the United States. Within three years, the company had made 5,000,000 Renminbi which at the time was equivalent to US$800,000.
In 1999, he with his team found Alibaba, a China-based business-to-business marketplace site in his apartment with a group of 18 friends. He started a new round of venture development with 500,000 yuan. In October 1999 and January 2000, Alibaba won a total of a $25 million foreign venture capital investment from Goldman Sachs and Softbank.
Jack Ma’s net worth in 2021 is $48.5 Billion.
Few Facts About Jack Ma
- Forrest Gump is his lifelong hero
- Jack Ma learned English as a teenager by giving free tours to visitors on the West Lake in Eastern China
- He started out his career as an English teacher
- Jack Ma didn’t see his first computer until he was 31
- He was kidnapped on his first trip to the United States
- Jack Ma started Alibaba with a group of his English students
- He gave up a big chunk of his company to his 18 “co-founders”
- His real name is Ma Yun
Top Jack Ma Quotes
- “Without internet, there would have been no Jack Ma, and no Alibaba or Taobao.” – Jack Ma
- “My job is to help more people have jobs.” – Jack Ma
- “Today, making money is very simple. But making sustainable money while being responsible to the society and improving the world is very difficult.” – Jack Ma
- “You should learn from your competitor, but never copy. Copy and you die.” – Jack Ma
- “If you’ve never tried, how will you ever know if there’s any chance?” – Jack Ma
- “Never ever compete on prices, instead compete on services and innovation.” – Jack Ma
- “Instead of learning from other people’s success, learn from their mistakes. Most of the people who fail share common reasons to fail, whereas success can be attributed to various different kinds of reasons.” – Jack Ma
- “Life is so short, so beautiful. Don’t be so serious about work. Enjoy the lives.” – Jack Ma
