Jack Ma is founder and executive chairman of Alibaba Group – a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals. Today, the internet business behemoth is worth 31.4 billion USD.
Jack Ma’s rise to superstardom in the business world is extraordinary. Growing up poor, the world now identifies him not just as a business mogul, but as a creator, innovator, and beacon of hope and humanist of the 21st century.
Here at NewStreamAsia, we have compiled for you 8 inspirational facts about Jack Ma – the man who has amassed a growing fan base of world leaders, ivy leagues, multinational organizations and startups alike.
1) Ma recognized the importance of English as a means of communication.
Ma was determined to master the English language from a very young age. He would travel daily on an excruciating 40 minute bike ride to a hotel in Hangzhou, where he would converse with English speakers there in order to improve his language skills.
2) Ma’s road to success was fraught with many difficulties.
Jack Ma took 4 years just to pass his college entrance exams. Upon graduating, he applied for 30 different jobs and was rejected by all. In an interview with PBS’ Charlie Rose, Ma had this to say, “I went for a job with the police; they said, ‘you’re no good. ‘I even went to KFC when it came to my city. Twenty-four people went for the job. Twenty-three were accepted. I was the only guy…” Ma had even tried applying to Harvard 10 times and failed on all occasions!
3) Curiosity did not kill the cat. It helped Ma discover new opportunities.
In 1994 Jack Ma discovered the internet. Thrilled about this newfound invention, he keyed in the word ‘beer’ and was delighted to find information from all over the world; except China. This gave him an idea. In 1995, Ma and his wife started their first company to make business through the internet. Within three years, they hit a net profit of 5,000,000 Chinese Yuan!
4) Jack Ma is a huge believer in giving back to society.
In 2010, Ma was recognized for his charitable work in providing aid to world hunger and disaster relief. As a result, he was named by Forbes Asia as one of Asia’s Heroes of Philanthropy.
5) Ma is an environmentalist at heart.
China is famous for its shark fin soup. Inspired after worldwide protest against the killing of sharks for their fins, Ma and his family swore off eating the delicacy and he even went one step further by banning the sale of shark fin products across all of Alibaba Group’s e-commerce platforms. A bold move indeed!
6) Ma is obsessed with martial arts.
Ma studies and practices Tai Chi Chuan, a form of Chinese martial arts. Believing that it would greatly benefit his employees, Ma made attending these classes mandatory!
7) Ma’s business tactics are premised on Chinese philosophy.
Ma draws inspiration from Daoism, Confucianism and Buddhism in implementing his global expansion strategies. His goal is to always combine business acumen with philanthropic ideals; a concept that is a win-win for all.
8) Ma preaches and practices trade inclusivity.
Ma is a firm believer that trade should not just benefit the elite. He believes that SME’s should also benefit from free trade on his Electronic World Trade Platform. This platform allows international brands to sell directly to Chinese consumers, opening up doors of opportunities to various classes of businesses.
Today, Ma is estimated to be over $30.9 billion (as of 6 May 2017). Hailed as China’s richest man, this is what he has to say:
“The lessons I learned from the dark days at Alibaba are that you’ve got to make your team have value, innovation, and vision. Also, if you don’t give up, you still have a chance. And, when you are small, you have to be very focused and rely on your brain, not your strength.”
