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Being the founder and executive chairman of Alibaba Group. Jack Ma is a Chinese business magnate and philanthropist.
Jack Ma was born and brought up in Hui Muslim family and was dirt poor. From a very young age, he was keen on gathering knowledge about English and tried his best to communicate better in the language.
Jack Ma applied for 30 different jobs and got rejected. He also tried working in KFC, where he was the only person to get rejected out of the 24 people who applied for the job.
In the year 1995, Jack Ma, his wife and a friend started an internet company. Their company was dedicated to creating websites for other companies. He named their company “China Yellow Pages.
During 1998 and 1999, with help from 17 friends, Jack Ma started his own company named Alibaba, a China-based business-to-business marketplace site.
During October 1999 and January 2000, Alibaba twice won a total of a $25 Million international venture capital investment.
After combining the position of Alibaba, Jack Ma shifted focus to the consumer-to-consumer platform. Taobao was formed in 2003. His strategy to keep it free affected the profits and drew widespread criticism, but Ma was unruffled.
In 2004, Jack Ma was chosen by China Central Television and its viewers as one of the “Top 10 Business Leaders of the Year”.
Recently, he was ranked as the 30th most powerful person in the world in an annual ranking.
In the year 2015, Jack Ma was honoured with the Entrepreneur of the Year award at The Asian Awards.
He owns a Gulfstream 550 which costs around 30 Million yuan.