Jack Ma
 Jack Ma    (businessman, billionaire) | |
|---|---|
 | |
| Born | 10 September 1964 Hangzhou, Zhejiang |
| Nationality | Chinese |
| Alma mater | Hangzhou Normal University |
| Founder of | Alibaba |
| Member of | WEF/Board of Trustees, WEF/Global Leaders for Tomorrow/2001, WEF/Global Shapers, WEF/Young Global Leaders/2005 |
Chinese business magnate and founder of Alibaba Group. WEF/Global Leaders for Tomorrow/2001. On the Board of the World Economic Forum. | |
Jack Ma Yun is a Chinese business magnate and co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, he co-founded Yunfeng Capital, a private equity firm. Ma is a strong proponent of an open and market-driven economy.
He was selected a Global Leader for Tomorrow and the continuation program Young Global Leader in 2005 by the World Economic Forum. He has sat on the Board of Trustees of the Forum, and also the board of its Global Shapers community .
Early Life
Ma was born in a family of modest means. He studied at the Hangzhou Teacher's Institute, now known as Hangzhou Normal University, although he failed the entrance exam three times.[1] In 1988 he graduated with a bachelor's degree in English.
Business career
In 1994, he a translation agency on a part-time basis, employing retired English teachers. Ma first encountered computers in 1995 while visiting a friend in Seattle. After initial hesitation, Ma surfed the Internet for the first time when his friend encouraged him to get acquainted with computers. His friend published the contact details of his translation agency and a few hours later the first email inquiries came in. The experience inspired him to start his first internet company, China Pages. Ma used private savings and loans from parents and relatives for start-up financing.
In 1999, Ma founded Alibaba with 16 partners, his wife, and $60,000 in seed capital. In October 1999 and January 2000, Alibaba got a total of a $25 million foreign venture capital investment from Goldman Sachs and Softbank.[2] In 2005, Yahoo! invested in Alibaba, buying a 40% stake in the company for US$1 billion.[3]
By 2020, Alibaba is one of the world's largest retailers and e-commerce companies. It is also a large artificial intelligence company.[4]
Billionaire
In August 2014, according to the Bloomberg Billionaires Index, Jack Ma had a net worth of US$21.8 billion, making him the richest man in China.[5] In 2017, Ma was ranked second in the annual "World's 50 Greatest Leaders" list by Fortune.[6] He has widely been considered as an informal global ambassador for Chinese business.[7] In September 2018, he announced that he would retire from Alibaba and pursue educational work, philanthropy, and environmental causes;[8][9][10][11] the following year, Daniel Zhang succeeded him as executive chairman.[12]
As of October 2021, with a net worth of $42.3 billion, Ma is the fourth-wealthiest person in China (after Zhong Shanshan, Ma Huateng and Zhang Yiming), as well as one of the wealthiest people in the world, ranked 32nd by Bloomberg Billionaires Index.[13] 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.[8][14] In April 2021, Jack Ma ranked 26th in the "2021 Forbes Global Rich List" with a fortune of US$48.4 billion.[15]
Ma has reportedly been seen in public only twice since October 2020, fostering speculation regarding his whereabouts. In October 2021 Reuters reported Ma was on the Spanish island of Mallorca shopping at local store. His superyacht was anchored in the Port of Andratx.[16]
Events Participated in
| Event | Start | End | Location(s) | Description |
|---|---|---|---|---|
| WEF/Annual Meeting/2016 | 20 January 2016 | 23 January 2016 | World Economic Forum Switzerland | Attended by over 2500 people, both leaders and followers, who were explained how the Fourth Industrial Revolution would changed everything, including being a "revolution of values". |
| WEF/Annual Meeting/2017 | 17 January 2017 | 20 January 2017 | World Economic Forum Switzerland | 2950 known participants, including prominently Bill Gates. "Offers a platform for the most effective and engaged leaders to achieve common goals for greater societal leadership." |
| WEF/Annual Meeting/2019 | 22 January 2019 | 25 January 2019 | World Economic Forum Switzerland | "The reality is that we are in a Cold War [against China] that threatens to turn into a hot one." |
References
- ↑ http://www.bloomberg.com/news/articles/2015-01-29/alibaba-s-jack-ma-on-early-obstacles-his-ambitions
- ↑ https://books.google.com/books?id=EI4zCgAAQBAJ
- ↑ http://www.hottopics.ht/stories/consumer/jack-ma-the-man-leading-the-chinese-e-commerce-market/
- ↑ https://www.datamation.com/artificial-intelligence/top-artificial-intelligence-companies.html
- ↑ https://www.bloomberg.com/news/articles/2014-12-11/jack-ma-becomes-asia-s-richest-person-on-alibaba-surge
- ↑ http://fortune.com/worlds-greatest-leaders/theo-epstein-1
- ↑ http://fortune.com/2017/03/24/jack-ma-alibaba-china-ecommerce-world-greatest-leaders/
- ↑ a b https://www.forbes.com/sites/jdoebele/2019/12/02/jack-ma-shares-his-plans-for-education-philanthropy-in-china/
- ↑ https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/technology/2018/09/07/alibaba-chief-jack-ma-stand/
- ↑ mhttps://www.latimes.com/business/la-fi-jack-ma-alibaba-20180907-story.html
- ↑ https://economictimes.indiatimes.com/news/international/business/alibabas-jack-ma-chinas-richest-man-to-retire-from-company-he-co-founded/articleshow/65727702.cms
- ↑ https://www.cnbc.com/2018/09/10/alibaba-jack-ma-succession-plan-daniel-zhang-to-take-over-as-chairman.html
- ↑ https://www.bloomberg.com/billionaires/profiles/jack-y-ma/
- ↑ https://www.forbes.com/sites/gracechung/2019/12/02/asias-2019-heroes-of-philanthropy-catalysts-for-change/
- ↑ https://www.forbes.com/billionaires/%7C
- ↑ https://www.reuters.com/business/alibaba-founder-ma-spotted-mallorca-rare-trip-abroad-after-china-scrutiny-2021-10-20/
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