Jack Ma is a Chinese business magnate who is the co-founder of the multinational technology conglomerate ‘Alibaba Group. He currently serves as the executive chairman of the company. He is also an investor and is an ambassador for Chinese business across the world. Before beginning his career, Jack was rejected for 30 jobs. He has also ventured into acting and has received several awards. Let’s find out more about how much is Jack Ma’s net worth in 2018.
Jack Ma Early Life
Ma Yun, better known as “Jack Ma” was born on Hangzhou, China on 10 September 1964. He was interested in learning English from a very young age.
Jack used to converse with English speakers at the Hangzhou International Hotel. He struggled with the English language and later went to Hangzhou Teacher’s Institute and earned his bachelor’s degree in English. Following that, he went to Cheung Kong Graduate School of Business.
Jack Ma got married to Zhang Ying in the 1980s. The couple is the proud parents of two children. He is also a philanthropist and has worked for various organizations. He has been active on various projects like water, air, and environment.
After completing his bachelor’s degree, Jack used to work as an English lecturer at Hangzhou Dianzi University. He has also worked as a teacher along with his wife Ying.
Jack Ma Career
In the beginning, Jack Ma was rejected for many jobs in his career. He went to the United States in 1995 and came to know about the internet. At that time, the internet was not so popular in China, and this led him to create a website based in China.
He then started his first company and named it as ‘China Yellow Pages.’ In three years, the company was able to make $800 thousand. He started making websites for various Chinese companies and helped them in connecting with the World Wide Web.
When he was 33, he got his first computer. In 1998, he headed a company for China International Electronic Commerce Center. He quit the job a year later and became the founder of Alibaba Group. It was a Chinese market-to-market base business. In 2003, he founded Alipay, Lynx, Ali Mama, and Taobao Marketplace.
Jack currently serves as Alibaba Group’s executive chairman and has got holding of nine other subsidiaries like Alibaba.com, Juhuasuan, Tmall, 1688.com, eTao, Taobao marketplace, Alibaba Cloud Computing, Alipay, and AliExpress.com. In 2017, he was seen in the short film called ‘Gong Shou Dao.’ He also participated in a singing festival.
Awards & Achievements
In 2007, Jack Ma won the “Businessperson of the Year” award from Businessweek. The Hong Kong University of Science and Technology conferred him with an honorary doctorate in 2013. He has received the award of Entrepreneur of the Year from Asian Award in 2015. In 2008, Ma appeared in the list of “World’s Best CEOs” by Barron. He has also appeared on the list of “25 Most Powerful Businessperson in Asia” by Fortune Magazine.
Net Worth of Jack Ma
Jack Ma’s estimated net worth is more than $43 billion. He is one of the richest people in the world and is also the richest men in China. He found considerable success by launching the Alibaba Group and has also ventured into many other businesses. Alibaba Group was having a net income of over $6 billion in 2017. In January 2018, the market cap of the company stood at $527 billion. His wealth also comes from his career as an investor and has headed many establishments.
Bob Costas is one of the most successful businessmen in the world. In 2017, Fortune magazine ranked Ma at #2 in the ‘World’s 50 Greatest Leaders’. His success has made him one of the most powerful persons in the world. He has inspired many people on how to become a successful entrepreneur.