| net worth: | $24.5 billion |
|---|---|
| age: | 59 |
| date of birth: | October 15, 1964 |
| gender: | male |
| high: | 1.61 m (5 ft 3 in) |
| country of origin: | China |
| Source of wealth: | Founder of Alibaba |
| Last updated: | July 26, 2024 |
What is Jack Ma’s net worth?
Jack Ma is a Chinese entrepreneur and founder of Alibaba Group, which owns several online businesses.
Before founding Alibaba, Jack Ma experienced rejection after rejection and was used to being told he wasn’t good enough.
For a man who was once told he wasn’t good enough, becoming one of the richest men in the world has proven them wrong.
Today, Ma’s net worth is estimated at $24.5 billion.
early life
Jack Ma was born on September 10, 1964 in Hangzhou, China.
Jack has been interested in learning English since he was a child and has done his best to improve his English.
He rides his bicycle for 70 minutes every day to and from international hotels in Hangzhou to talk to tourists.
Ma also began offering free city tours in exchange for English lessons.
When he got to college, Ma Yun had a very difficult college entrance examination. China only has one college entrance examination per year, and it took him a total of four years to pass it.
Eventually, he graduated from Hangzhou Normal University and became an English teacher, but his salary was very low.
Profession
In 1988, after graduating from Hangzhou Normal University, Jack Ma applied for jobs many times but was rejected every time.
Nevertheless, he founded his own company, Hangzhou Haibo Translation Agency, in 1994 and created a website about Chinese beer the following year.
Soon thereafter, he founded a second company, China Pages, which earned today’s equivalent of $1.18 million in three years.
Ma quickly became one of the richest men in Asia and an expert at building websites for Chinese companies.
The accumulation of wealth
In 1998, Ma worked at the China World Trade Center, but resigned in 1999 and founded Alibaba in Hangzhou.
By 2000, Alibaba received $25 million in venture seed funding from Goldman Sachs and Softbank, which enabled it to grow exponentially.
Three years later, Jack Ma founded Taobao. eBay proposed to acquire Taobao, but was rejected by Jack Ma.
Instead, Ma received support from Yahoo co-founder Jerry Yang, who offered Ma a $1 billion investment in Alibaba.
Ma has since grown Alibaba into a company with multiple subsidiaries, including AliExpress, Alipay, Alibaba Cloud Computing and Tmall.
Jack Ma also founded the non-profit organization “Alibaba Hong Kong Young Entrepreneurs Foundation” in 2015.
The organization helps support entrepreneurs in Hong Kong, enabling them to expand their businesses and succeed.
That same year, Ma’s company funded the construction of 1,000 houses in Nepal after an earthquake there.
In 2017, Ma met with then-President-elect Donald Trump to discuss expanding Alibaba’s business interests within the United States.
At the same time, he partnered with Hong Kong business tycoon Li Ka-shing to launch a digital wallet service in Hong Kong.
Ma subsequently resigned as chairman of Alibaba Group Holding in 2018, leaving Daniel Zhang to take over.
He also resigned from Alibaba’s board of directors in 2020, but remains involved in company affairs.
Ma’s recent involvement
After Alibaba suffered a regulatory blow in 2020, Ma disappeared from public view for criticizing Chinese banks and regulators.
However, the Alibaba Foundation and the Jack Ma Foundation did donate medical supplies to the United States, Africa and Europe during the COVID-19 pandemic.
Jack Ma was named one of Asia’s “Heroes of Philanthropy” for his philanthropy and received the Malcolm Forbes Lifetime Achievement Award.
In 2022, Jack Ma reportedly lived a low-key life in Tokyo, Japan, but in 2023 he returned to Hangzhou to visit Yungu School.
After visiting the Alibaba-funded school, located near the company’s headquarters, Ma returned to his overseas travels.
Later that year, Ma became a visiting professor at the University of Tokyo, focusing on food production and agriculture while also teaching a course on entrepreneurship.
In 2024, Jack Ma became Alibaba’s largest shareholder, replacing SoftBank, which previously held the largest stake in the company.
Ma is now one of the richest men in the world, and he continues to have an outsized influence on e-commerce and technology in China and around the world.
Estimated Net Worth
As of July 2024, Jack Ma’s net worth is estimated to be $24.5 billion.
Ma Yun’s net worth changes
| Year | net worth |
|---|---|
| 2009 | $1.3 billion |
| 2010 | $1.2 billion |
| 2011 | $1.6 billion |
| 2012 | $2.6 billion |
| 2013 | $3.4 billion |
| 2014 | $10 billion |
| 2015 | $22.7 billion |
| 2016 | $20.5 billion |
| 2017 | $28.3 billion |
| 2018 | $39 billion |
| 2019 | $37.3 billion |
| 2020 | $38.8 billion |
| 2021 | $48.4 billion |
| 2022 | $22.8 billion |
| 2023 | $23.5 billion |
| 2024 | $24.5 billion |
emphasize
Here are some highlights from Ma’s career:
- Providing city tours to foreign tourists in exchange for learning English
- Graduated from Hangzhou Normal University (1988)
- I applied for many positions, including a manager position at KFC, but was rejected every time.
- Worked as an English teacher at a local university, earning $12 a month
- He gathered 17 friends in his apartment and asked them to invest in Alibaba.
- Yahoo invests $1 billion in Alibaba (2005)
- Resigned as CEO (2013)
Favorite Jack Ma quotes
“Today is hard, tomorrow will be worse, but the day after tomorrow will be sunny.” – Jack Ma
“If you’ve never tried, how will you know if you have a chance?” – Jack Ma
“Opportunities exist where there is complaint.” – Jack Ma
“If we want to change the world, we must change ourselves.” – Jack Ma
“In your life, try one thing, work hard for something. Try to change. Nothing bad will happen.” – Jack Ma
Check out our extensive collection of Jack Ma’s quotes!
Summary
Rejection has been a constant in Ma’s life since he was a teenager, and he has faced it many times.
But his inspiring story of going from being turned down for a job at KFC to building one of the world’s most valuable companies is an inspiration for all of us.
As of 2024, Jack Ma’s net worth is estimated to be $24.5 billion.
What do you think about Jack Ma’s net worth? Leave a comment below.
Categories: Net Worth
Source: svlsf.edu.vn