| Net Worth: | $34 Billion |
|---|---|
| Date of Birth: | October 15, 1964 (60 years old) |
| Gender: | Male |
| Profession: | Entrepreneur, Teacher, Businessperson |
| Nationality: | China |
What is Jack Ma’s net worth? How does Jack Ma make his money? Below is the current net worth of Jack Ma and how Jack Ma makes his money.
What is Jack Ma’s Net Worth?
Jack Ma is a Chinese business tycoon, investor, co-founder, and previous executive chairman of Alibaba Group who has a net worth of $34 billion. Over the years he was once the richest person in China and also the richest person in the Asian Continent.
Early Life
On 10 September 1964 Ma Yun, was born in the city of Hangzhou in Zhejiang, China. He came from a poor background and as such was not opportune to study outside his hometown and country. Growing up he had a keen interest in English but he had difficulty expressing himself in the language.
In a bid to gain mastery in English Jack Ma took it upon himself to work in an International Hotel with this he became really close to the foreign tourists, he gave them a tour guide to different places for their sightseeing and communicated with them as well. Jack did this job for nine years and over time developed his proficiency in the use of English.
It was during his stay at the Hangzhou International Hotel that one of the tourists ( a female tourist) gave him the moniker ”Jack”.
Jack Ma was not really brilliant in school so he had difficulties gaining admission into the university because of his unsatisfactory performance in the Chinese university entrance examinations. The Chinese university entrance examinations were held once every year but it actually took Jack Ma four years to pass the exam.
Jack Ma attended the Hangzhou Teacher’s Institute which is now known as the Hangzhou Normal University. In 1988, he graduated with a B.A. in English.
Career Beginning
Jack Ma worked as a lecturer in English and international trade at Hangzhou Dianzi University. Jack Ma was so passionate and wanted to study at Harvard Business School but he was rejected ten consecutive times. Jack Ma as an applicant applied to thirty different jobs and was bluntly rejected. As disappointing and frustrating as these experiences were Jack did not let them deter him.
In 1994, Jack Ma established his first company the ”Hangzhou Haibo Translation Agency”. Jack Ma’s awareness of the usage and versatility of the internet was in 1995 when he traveled with his buddies to the United States he was introduced to the internet. At first, he was scared of using the internet but after being persuaded by his friend, he decided to give it a try.
Initially, Jack Ma tried finding information on beer on the internet, he actually saw information concerning beer from other countries excluding China. Immediately he got an insight that it could be wise if he creates a website that will enable people to search and find information concerning products and other things that are related to China.
Jack Ma and his friend spontaneously created and launched a website related to China, barely a few hours after the website was created Jack Ma was informed by his friend that he has received several emails from Chinese investors. Jack Ma then realize the potentiality of the internet so together with a computer teacher He Yibing they opened the first office for China Pages. In May 1995, they registered the domain “chinapages.com” in the United States.
Alibaba Group
Jack Ma founded Alibaba, initially, he started this company in his apartment with a total number of eighteen people including his wife. Alibaba Group is a virtual online business platform. Alibaba won a total of $25 million in foreign venture capital investment between October 1999 and January 2000.
Alibaba has expanded its tendrils dramatically and substantially ever since it was created. As of this writing, Alibaba is the largest commerce site on the globe. By valuation, Alibaba is bigger and larger than Amazon.com and eBay.
From June 2013 to June 2014 Alibaba had over 280 million active customers from over 240 countries, who made a transaction of nearly about $300 billion of goods and services.
As of this writing, Alibaba has six active subordinates including Alibaba.com, Alibaba Cloud Computing, Yahoo! China, Tmall.com, Taobao Marketplace, and eTao. Jack Ma has received lots of accolades and numerous business honors such as being listed among the “25 Most Powerful People in Asia” in Fortune Magazine in 2005, and in 2007, he was chosen as Businessweek’s “Businessperson of the Year”.
Astonishingly, on 10 September 2018, Jack Ma came out and publicly declared his intentions on stepping down as the executive chairman of Alibaba Group Holding.
Real Estate
The Chinese mogul has acquired numerous properties all around the globe. Jack Ma bought a vast real estate in New York’s Adirondacks for the sum of $23 million in 2015. Jack Ma’s estate is called Brandon Park, this estate is made up of several thousands of acres.
Personal Life
Jack Ma got married to his college lover Zhang Ying in 1987. Their marriage is blessed with three children.
Here on Networthforum, we calculate all net worths using data drawn from public sources. We often incorporate tips and feedback from individuals or their representatives.
While we always strive to ensure that our figures are as accurate as possible, please note that they are only estimates, unless otherwise indicated.
This page is updated from time to time so that our readers will know the current net worth of Jack Ma. So feel free to check back for the current Jack Ma net worth in case of any update on his net worth.
Leave a Reply