what is Jack Ma net worth?
- A former English teacher, Jack Ma cofounded Alibaba Group, one of the world’s largest e-commerce businesses.
- In September 2019, Jack Ma stepped down as Alibaba’s executive chairman; he is succeeded by CEO Daniel Zhang.
- Its 2014 IPO in New York set a record as the world’s biggest public stock offering, raising $25 billion.
- Ma’s investments beyond Alibaba include stakes in Chinese entertainment industry firms Huayi Brothers and Beijing Enlight Media.
Jack Ma, or Ma Yun , is a Chinese business magnate, investor, politician, and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. Ma is a strong proponent of an open and market-driven economy
A prominent business leader, Ma is seen as a global ambassador for Chinese business and as such is frequently listed as one of the world’s most powerful people, with Forbes ranking him 21st on its “World’s Most Powerful People” list. He also serves as a role model for startup businesses. In 2017, Ma was ranked second in the annual “World’s 50 Greatest Leaders” list by Fortune. In September 2018, he announced that he would retire from Alibaba and pursue educational work, philanthropy, and environmental causes; the following year, Daniel Zhang succeeded him as executive chairman.
Jack Ma Net Worth
Ma is one of the China’s richest men, with a net worth of $46.3 billion, as well as one of the wealthiest people in the world, ranked 20th by Bloomberg Billionaires Index and Forbes. In 2019, Forbes named Ma in its list of “Asia’s 2019 Heroes of Philanthropy” for his work supporting underprivileged communities in China, Africa, Australia, and the Middle East.
Early life and education
Jack Ma was born Ma Yun on 10 September 1964 in Hangzhou, Zhejiang, China. He began studying English at a young age by conversing with English-speakers at Hangzhou International Hotel. For nine years, Ma would ride 17 miles on his bicycle to give tourists tours of the area to practice his English. He became pen pals with one of those foreigners, who nicknamed him “Jack” because he found it hard to pronounce his Chinese name.
Later in his youth, Ma struggled attending college. The Chinese entrance exams are held only once a year and Ma took four years to pass. Ma attended Hangzhou Teacher’s Institute (currently known as Hangzhou Normal University) and graduated in 1988 with a Bachelor of Arts in English. While at school, Ma was head of the student council. After graduation, he became a lecturer in English and international trade at Hangzhou Dianzi University. He also applied ten times to Harvard Business School and got rejected each time