Biography of Jack Ma: Founder of Alibaba, China’s Richest Man

When you talk about China’s largest e-commerce founder, what do you think of? All words of amazement must come out as opinions.

No wonder many people read the biography of Jack Ma, one of the successful Asian people who started his career from scratch.

Jack Ma Family Background

Jack Ma was born as a child to Ma Latifa and Cui Wencai on September 10, 1964, in Hangzhou, China. There are also sources who say he was born on October 15. His real name is Ma Yun.

Jack Ma is the middle child of three siblings. He has one older sister and a younger brother. His parents were not a high-income couple. His family had to make a living off of his father’s work as a traditional musician and storyteller.

Growing up in a communist environment that was closed to the western world, relying on his father’s retirement allowance of 500 thousand rupiahs per month, required him to help his parents with work.

Jack Ma Education

Jack Ma is one of the people who are persistent in seeking education. Despite receiving various rejections by several institutions, his enthusiasm for learning never subsided. He includes people who think that schools can improve the situation.

Although often rejected by various educational institutions, after graduating from school, Jack Ma wanted to continue his studies. Even though his family’s economic situation was mediocre, he did not give up on seeking an education.

Jack Ma tried to apply for college and only got lucky on the third chance at the Hangzhou Teachers Institute and graduated in 1988. He even applied to Harvard but was always rejected 10 times.

Jack Ma’s Rejections and Troubles

Almost half of his life is always faced with rejection. Starting from being rejected by every school, even from an elementary level just because of poor math test scores. Until rejection from various workplaces.

After graduating from college, he tried to apply for jobs in various companies, but never got a job. But finally, he tried to become an English teacher of his experience as a tour guide as a child.

His non-formal education was obtained when he became a tour guide for foreign tourists visiting Hangzhou. In addition to receiving wages from this work, he also gains knowledge in the form of experience and his English language skills become better.

Jack Ma Career

In Jack Ma’s biography, his career began when he was 12 years old by becoming a tour guide. At that time, the area where he lived was visited by President Nixon of the United States, so later many foreign tourists visited for tours.

Career Beginning

His work as a tour guide for foreign tourists for 8 years made him change his perspective to be more global. Jack Ma learns from what tourists tell which differs greatly from the lessons he gets at school from both teachers and textbooks.

After graduating from college, Jack Ma tried his luck sending applications to various companies but was always rejected. Even when applying to become a KFC employee, only 23 of the 24 applicants passed, not including him.

Become an English Teacher

Being the only applicant who was rejected by KFC, did not necessarily discourage him. He kept trying even though from the 30 companies he applied for, there was no result. Finally, he decided to become an English teacher armed with the ability as a tour guide.

Alibaba was born when Jack Ma used the internet in 1995 to search for the words ‘beer’ and ‘China’. But he didn’t find it. This then prompted him to create a website page that serves Chinese translation services.

Biography of Jack Ma: Founder of Alibaba, China's Richest Man

Jack Ma’s Career on Alibaba

The Alibaba website was created with the help of a friend and it turned out very well. As evidenced by the lapse of a few hours since its launch, many emails have come in to help build the site and increase its revenue.

Alibaba’s Founding History

Four years later, Jack Ma built the Alibaba Group, which not only deals with mandarin translation services for the website class but also penetrates into various fields. Even now the company has become the largest e-commerce in China.

Alibaba is also highly regarded in the world, although its position is still below Amazon and Walmart. Alibaba.com as its first site functioned as a forum for exporters from China to connect with buyers abroad.

Alibaba Development

Alibaba is also able to attract investors quickly so that it can grow to the size it is today. With this capital, the company made a development strategy to beat eBay, one of the online buying and selling sites in the United States.

Because of his hard work, two Alibaba sites, Taobao Marketplace and Tmall.com have become the prima donna for online shopping and the largest delivery service provider in China. This achievement is certainly very proud considering the founders who did not have the slightest knowledge in the field of technology.

Jack Ma’s Achievements

Without a background in technology and computing, Jack Ma was able to establish and develop the Alibaba Group into the largest online reseller in China. Because of this, he is now the richest person in China and very influential in the world.

The business ideas that were born from his super crazy and fantastic thoughts are where the Alibaba Group can exist as it is now. Even by his colleagues and competitors, he earned the nickname ‘Crazy Jack’.

Jack Ma brought his often rejected experience into Alibaba’s management. He further emphasized that his website was able to help many consumers, create jobs and provide services to the community.

Also Read: Biography of Bill Gates, Billionaire Microsoft Founder

How Much Does Jack Ma Earn?

In the past, he was just an English teacher whose salary at that time was only $12 per month. But who would have thought that his name is now being taken into account by the world and able to become the number one billionaire in his country?

Jack Ma’s First Degree

He has always instilled the thought that never giving up will lead you to many other opportunities. Poverty is not an obstacle, all you have to do is focus and rely on your brain, not your muscles. That’s why he was able to get an education up to college.

Thanks to the Alibaba-made site, since 2014 Jack Ma has been known throughout China as the country’s number one billionaire. His wealth even increased after his company released its IPO shares in the United States market.

Jack Ma’s rising wealth

Even when Alibaba held an IPO on the New York stock exchange, it was able to produce fantastic numbers that set a world record. Shares thrown to the public even jumped up to 38 percent. This makes Jack Ma’s wealth rise to the US $ 26.5 billion.

The price of Alibaba’s shares that are thrown to the public, its value is increasing and will continue to produce coffers of wealth for Jack Ma.

 As of June 2020, his wealth as reported by the Forbes page reached US$ 52 billion or equivalent to Rp. 7.6 hundred billion.

Conclusion

From the story of Jack Ma, it can be concluded that the possibility is always there and the opportunity is always wide open. Wealth can be obtained from hard work and persistence, not necessarily from inheritance.

Such is the biography of Jack Ma, the life story of the very inspirational founder of Alibaba. Keep the spirit and persistence in achieving your dreams. Hopefully, your version of success can be realized soon.