Jack Ma is one of the richest men in China with a net worth of $35.6 billion. Alibaba was co-founded by Ma in 1999, making it the first e-commerce firm in China. The company has grown by leaps in the past two decades, not only dominating the market in China but also grabbing a market share in most nations of the South and Southeast Asia. Jack is also one of the wealthiest people in the world and also was ranked 21st in Forbes' World's Most Powerful People. Jack Ma, Co-founder of Alibaba Endorses 12-Hour, 6 Days Working Policy, Gets Slammed For Slave Culture.
Under Ma’s leadership, Alibaba has grown to become Asia’s most valuable listed company, with a current market capitalisation of $460 billion and the company went public on September 19 2014. According to reports, Ma may bid farewell to his company on Tuesday, on the day he turns 55 years.
Even after his resignation, Jack will continue to be a member of Alibaba’s partnership, a corporate governing group of 38 individuals that is separate from the board of directors. His sudden announcement to resign from the company came in 2018, which shocked people all around.
He wants to spend more time on philanthropy and education and -Jack Ma Foundation would thus work towards penetrating education in all peripheries of the nation. Ma stepped down from his post as CEO in 2013, staying on as executive chairman.
Early Life of Jack Ma:
Born on September 10, 1964, Jack started his career as an English teacher, before turning into an entrepreneur. He had applied ten times to Harvard Business School (HBS) and got rejected. Jack's story is a perfect example of rags to riches.
He was born Ma Yun, and as a teenager, Ma started waking up early to visit the city's main hotel, offering visitors tours of the city in exchange for English lessons. One of the tourist he befriended nicknamed him "Jack". He had applied for several jobs, but failed in all of them, including KFC. According to reports, when he started as an English teacher, he would make $12 a month at a local university.
Ma has often come under flak for advocating people to follow the spirit of "996" (9 am to 9 pm, six days a week at the workplace). Earlier this year, he even advocated people to follow the spirit of "669" (sex for six days, six times, with the duration being the key). However, the man has boldy faced every criticism and it has not deterred his belief to make Alibaba touch great heights of success. LatestLY wishes Jack Ma a very Happy Birthday.