Jack Ma (Ma Yun) is a Chinese Businessman and the CEO and co-founder of Chinese multi-national company Alibaba. His company has alot of subsidiaries but the most well known subsidiary is Aliexpress (Alibaba.com). This subsidiary is a ecommerce website which sells and ships a variety of goods and products to and from all over the World. Jack was born on September 10, 1964 , in the city of Hangzhou, Zhejiang China. He started to studying English at a very young age and would take tourists on tours of the city in order to practice his English. Jack Ma became pen pals with one of the tourists who nick named him “Jack” because he thought his given name was too difficult to pronounce.
Jack Ma and his Philosophies
Ma Yun believes that in order to succeed you first need to learn how to succeed. He believes that the best way to learn how to succeed is by failing. Jack has failed many times in his life but he never let failure get the best of him. He took the Chinese College entrance exams 3 times in 3 years as it was only done once a year and failed each time. Jack persevered the challenges he had with Math and eventually passed , matriculating to study a Arts degree , eventually becoming a college professor. Jack’s journey was only beginning and so he tried to get many other jobs and failed in his pursuits each and every time. Jack learnt from his experiences and eventually went on to collaborate with others to found Alibaba.
Jack’s net Worth and influence
Jack is a supporter of The Communist Party Of China and it seemed to shock many when it was made public. Jack Ma strongly believes in the 996 working hour system which is a Chinese belief that the daily work hour should be from 9:00AM to 9:00PM from Monday – Saturday. He was asked what his views for the future were and he then responded that 996 was best for China’s future. Jack Ma is said to be worth around 62.1 billion USD.
Chair of Alibaba Group
Ma served as executive chairman of Alibaba Group, which is a holding company with nine major subsidiaries: Alibaba.com, Taobao Marketplace, Tmall, eTao, Alibaba Cloud Computing, Juhuasuan, 1688.com, AliExpress.com, and Alipay. In November 2012, Alibaba’s online transaction volume exceeded one trillion yuan. As of 2016, Ma is the owner of Château de Sours in Bordeaux, Chateau Guerry in Côtes de Bourg and Château Perenne in Blaye, Côtes de Bordeaux.
On 9 January 2017, Ma met with United States President-elect Donald Trump at Trump Tower, to discuss the potential of 1 million job openings in the following five years through Alibaba’s business interests in the United States of America. On 8 September 2017, to celebrate Alibaba’s 18th year of establishment, Ma appeared on stage and gave a Michael-Jackson-inspired performance. He performed part of “Can You Feel The Love Tonight” at the 2009 Alibaba birthday event while dressed as a heavy metal lead singer. In the same month, Ma also partnered with Sir Li Ka-shing in a joint venture to offer a digital wallet service in Hong Kong.
Ma announced on 10 September 2018 that he would step down as executive chairman of Alibaba Group Holding in the coming year. Ma denied reports that he was forced to step aside by the Chinese government and stated that he wants to focus on philanthropy through his foundation. Daniel Zhang would then lead Alibaba as the current executive chairman.
Ma officially stepped down from the board of Alibaba on 1 October 2020.
What Really Happened To Jack Ma?
Jack Ma was about to become the richest man in China.
In November 2020, on the eve of another commercial success, the outspoken billionaire suddenly went missing. Ma’s company Alibaba has risen from an online store run from his apartment, to one of the world’s largest tech giants. Today, it reaches nearly 800 million users with services including online shopping, cloud computing and artificial intelligence.
The tech magnate is known for his flamboyant presence and publicity stunts. He’s thrown parties for thousands of his employees and serenaded them with musical numbers like You Raise Me Up. His latest venture, Ant Group, commands the digital payment market in China through its Alipay mobile finance app.
The company is aiming to revolutionise banking in China, shifting power away from traditional institutions. On 24 October in Shanghai, Ant Group was ready to launch the world’s biggest initial public offering on the stock exchange.
Ahead of this, Ma addressed an assembly of high-profile figures with a controversial speech that criticised the Chinese financial system. He was not seen in public again until late January. In the interim, there were rumours that he might have been placed under house arrest or otherwise detained. Some even questioned if he was still alive.
Summoned from on high
Ma’s story is investigated as part of The Real Internet Giants, a new two-part series for BBC Radio 4, presented by entrepreneur Kathryn Parsons. The Alibaba founder had accused Chinese banks of operating with a “pawn-shop mentality”. He had also claimed that the authorities were trying to “use the way to manage a railway station to manage an airport” when it came to regulating the new world of digital finance. These statements angered the banking establishment and reportedly reached the attention of President Xi Jinping.
Soon Ma and his close colleagues were summoned for a meeting with the regulators, and Ant Group’s flotation was halted in its tracks. Shares in Ma’s companies fell, wiping nearly $76bn (£54bn) off its value. After that meeting, Jack Ma was nowhere to be seen.
“That day he apparently crossed the invisible red line for what can be said and done in Xi Jinping’s China,” says Christina Boutrup, a China analyst who has interviewed Ma in the past. “I believe it was a big surprise for him. He would never have crossed that line if he had known how bad it could go.” Eventually, on 20 January 2021, Ma resurfaced in the form of a short video address for a charity event. He was subsequently spotted the following month playing golf on the Chinese tropical island of Hainan. “Apparently he just kept a very low profile, which was really the best thing he could do,” says Ms Boutrup.
Wider tech sector
The Chinese government is currently reconsidering its approach to regulating the tech giants, launching an anti-monopoly investigation into Alibaba. And last week, one watchdog said it had fined 12 companies – including Tencent and Baidu – over 10 deals that it said violated anti-monopoly rules. This may signal an escalation of matters across the wider tech sector.
China is facing increasing international scrutiny from the US and elsewhere over its human rights policies in Hong Kong and Xinjiang. The move to rein in the tech superpowers is seen by some as an effort to prioritise stability and control over commercial success.
“There are [Communist] party committees there to remind the companies… that the party ultimately has power, even over powerful individuals like Jack Ma,” says Samantha Hoffman, a researcher at the Australian Strategic Policy Institute. This control extends to secrecy, she says.
“Not only is a company responsible to do what the party demands, but they also can’t admit to doing that if they’re asked.” But others have suggested it is unfair to judge China’s tech giants on the same basis as those from developed countries.
Jack Ma – Family , Family Tree
Jack Ma is a Chinese business mogul and philanthropist. Also called as Ma Yun, he is known for establishing the Alibaba Group, a prosperous group of internet based companies. Ma was born on September 10, 1964 in Hangzhou, Zhejiang region of China. After failing an entrance exam three times, he went on to attend the Hangzhou Teacher’s Institute and graduated with a bachelor’s degree in English.
Ma noticed the potential of the internet in the mid-90s and went on to play with different ideas and how they could be utilized. It was in 1995, that he started his first internet company and set up Alibaba in 1999 along with 17 friends. Apart from being highly business-oriented Ma is known for giving back generously to the community. Let us now look at the illustrious Ma Family.
Jack Ma’s parents were traditional musicians from China, who also did some story telling in order to support their family. The family had limited means of income and Ma grew up in a poor household but a happy one. Jack was passionate about learning English and since they couldn’t afford the classes, this led him to ride his bike to a hotel nearby and interact with foreigners. It was one these friends from abroad who gave him the name Jack.
Ma Spouse – Zhang Ying
Jack is married to Zhang Ying, who he met while studying together at the Hangzhou Normal University, and wed right after graduation. She is Chinese and has constantly supported him in all his business related ventures. It was with the help of Zhang that Jack established his first company by investing in USD 20,000 and later on Alibaba. She is also involved in supporting many charities and organizations which stand for various social and environmental causes. To these she has made many donations, in millions too.
Jack Children – Ma Yuankun and 2 more
Jack and his wife Zhang Ying have a total of three children together. It is known that one of them is a boy named Ma Yuankun. He was born in the year 1992 and graduated from the University of California in Berkeley. The names of his other two children are not public yet.
Awards and honors
- In 2004, Ma was honored as one of the “Top 10 Economic Personalities of the Year” by China Central Television (CCTV).
- In September 2005, the World Economic Forum selected Ma as a “Young Global Leader”.
- Fortune also selected him as one of the “25 Most Powerful Businesspeople in Asia” in 2005.
- Businessweek also selected him as a “Businessperson of the Year” in 2007.
- In 2008, Barron’s featured him as one of the 30 “World’s Best CEOs”
- In May 2009, Time magazine listed Ma as one of the world’s 100 most powerful people. In reporting Ma’s accomplishments, Adi Ignatius, former Time senior editor and editor-in-chief of the Harvard Business Review, noted that “the Chinese Internet entrepreneur is soft-spoken and elf-like—and he speaks really good English” and remarked that “Taobao.com, Mr. Ma’s consumer-auction website, conquered eBay in China.” He was also included in this list in 2014.
- BusinessWeek chose him as one of China’s Most Powerful People.
- Forbes China also selected him as one of the Top 10 Most Respected Entrepreneurs in China by in 2009. Ma received the 2009 CCTV Economic Person of the Year: Business Leaders of the Decade Award.
- In 2010, Ma was selected by Forbes Asia as one of Asia’s Heroes of Philanthropy for his contribution to disaster relief and poverty.
- In 2011, it was announced that one of his companies had gained control of Alipay, formerly a subsidiary of Alibaba Group, so as to “comply with Chinese law governing payment companies in order to secure a license to continue operating Alipay.
- Numerous analysts reported that Ma sold Alipay to himself below market value without notifying the board of Alibaba Group or the other major owners Yahoo and Softbank, while Ma stated that Alibaba Group’s board of directors were aware of the transaction. The ownership dispute was resolved by Alibaba Group, Yahoo! and Softbank in July 2011.
- Ma was awarded an honorary doctoral degree by the Hong Kong University of Science and Technology in November 2013.
- Ma was a board member of Japan’s SoftBank (2007–2020) and China’s Huayi Brothers Media Corporation. He became a trustee of The Nature Conservancy’s China program in 2009 and joined its global board of directors in April 2010.
- In 2013, he became chairman of the board for The Nature Conservancy’s China Program; this was one day after he stepped down from Alibaba as company CEO.
- In 2014, he was ranked as the 30th-most-powerful person in the world in an annual ranking published by Forbes.
- In 2015, Asian Award honoured him with the Entrepreneur of the Year award.
- In 2017, Fortune ranked Ma second on its World’s 50 Greatest Leaders list.
- In 2017, a KPMG survey ranked Ma third in global tech innovation visionary survey.
- In October 2017, Ma was given an honorary degree of Doctor of Science in Technopreneurship from De La Salle University Manila, Philippines.
- In May 2018, Ma was given an honorary degree of Doctor of Social Sciences by the University of Hong Kong in recognition of his contributions to technology, society and the world.
- In May 2018, Ma received an honorary doctorate from professors Yaakov Frenkel and Yaron Oz at the Tel Aviv University.
- In May 2019, Ma and other 16 influential global figures were appointed by Secretary-General of the United Nations as the new advocates for sustainable development goals.
- In July 2020, Ma received from King Abdullah II a first class medal for his contribution in fighting back against the COVID-19 pandemic.
- In August 2020, Ma was to receive from the President of Pakistan a Hilal e Quaid e Azam medal for his contribution in fighting back against the COVID-19 pandemic.
Jack continues to inspire the lives of people around and within China and if we all dream big we can be like Jack Ma.