| net worth: | $24.5 billion |
|---|---|
| age: | 59 |
| Birth: | October 15, 1964 |
| gender: | Male |
| Height: | 1.61 m (5 ft 3 in) |
| country of origin: | China |
| Sources of funds: | Founder of Alibaba |
| Last Updated: | July 26, 2024 |
How much is Jack Ma’s net worth?
Jack Ma is a Chinese entrepreneur and the founder of Alibaba Group, which owns various online businesses.
You are watching: Jack Ma Net Worth
Before founding Alibaba, Ma faced one rejection after another and had become used to hearing that he was not good enough.
And for a man who was told he was never good enough, becoming one of the richest people in the world proves them wrong.
Today Jack Ma’s net worth is estimated at $24.5 billion.
early life
Jack Ma was born on September 10, 1964 in Hangzhou, China.
Jack was very interested in learning English at a young age and put a lot of effort into improving his skills.
He spent 70 minutes cycling every day to and from international hotels in Hangzhou to interact with tourists.
Ma also began offering free tours of the city in exchange for English lessons.
When it came to college, Ma struggled to pass the entrance exams. Entrance exams in China are only held once a year, and it took him a total of 4 years to pass.
He eventually graduated from the Hangzhou Teachers Institute and became an English teacher, where he received very little pay.
Livelihood
After graduating from Hangzhou Normal University in 1988, Jack Ma applied for several jobs and was rejected everywhere.
However, he managed to start his own company, Hangzhou Haibo Translation Agency, in 1994, and the following year he created a website about Chinese beer.
Soon after, he started his second company, China Pages, which grossed the equivalent of $1.18 million in today’s currency in three years.
Jack Ma became the go-to website builder for Chinese companies, becoming one of the richest men in Asia.
build your own destiny
In 1998, Jack Ma worked at the China International Commerce Center, but left the job in 1999 and founded Alibaba in Hangzhou.
By 2000, Alibaba had secured $25 million in venture seed capital from Goldman Sachs and SoftBank, which helped it grow rapidly.
See more : Isaiah Thomas Net Worth
Three years later, Ma started the Taobao marketplace, which eBay offered to buy, but Ma turned it down.
Instead, Ma received support from Yahoo co-founder Jerry Yang, who offered him a $1 billion investment in Alibaba.
Since then, Jack Ma has expanded Alibaba into several subsidiaries, including AliExpress, Alipay, Alibaba Cloud Computing, and Tmall Etao.
Ma also launched the non-profit organisation, Alibaba Hong Kong Young Entrepreneurs Foundation, in 2015.
This organization provides support to entrepreneurs in Hong Kong so that they can expand their businesses and become successful.
That same year, Ma’s company funded the construction of 1,000 houses in Nepal following the devastation caused by the earthquake.
In 2017, Ma met with then-President Donald Trump to discuss expanding Alibaba’s business interests inside the United States.
At the same time, he partnered with Hong Kong business tycoon Li Ka-shing to offer digital wallet service in Hong Kong.
Jack Ma then resigned as executive chairman of Alibaba Group Holding in 2018, allowing Daniel Zhang to take over.
He also resigned from Alibaba’s board in 2020, though he remains involved in the company.
Ma’s recent involvement
Following the 2020 regulatory crackdown on Alibaba, Jack Ma disappeared from the public eye after criticising China’s banks and regulators.
However, the Alibaba Foundation and the Jack Ma Foundation donated medical supplies to the Americas, Africa, and Europe during the COVID-19 pandemic.
For his philanthropy, Ma was named one of Asia’s “Heroes of Philanthropy”, and was given the Malcolm S. Forbes Lifetime Achievement Award.
In 2022, Ma was reportedly living under the radar in Tokyo, Japan, though he returned to Hangzhou in 2023 to visit the Yungu School.
The Alibaba-funded school is located near the company’s headquarters and after his visit, Ma returned to travel abroad.
Later that same year, Ma became a visiting professor at the University of Tokyo, where he focused on food production and agriculture while lecturing on entrepreneurship.
In 2024, Ma will become Alibaba’s largest shareholder, replacing SoftBank, which previously held the largest stake in the company.
See more : Roger Penske Net Worth & What Has Roger Penske Done for Auto Racing?
Now one of the richest people in the world, Jack Ma has a major influence on e-commerce and technology in China and around the world.
estimated net worth
As of July 2024, Jack Ma’s net worth is estimated at $24.5 billion.
Jack Ma’s net worth has increased over time
| Year | net worth |
|---|---|
| 2009 | $1.3 billion |
| 2010 | $1.2 billion |
| 2011 | $1.6 billion |
| 2012 | $2.6 billion |
| 2013 | $3.4 billion |
| 2014 | $10 billion |
| 2015 | $22.7 billion |
| 2016 | $20.5 billion |
| 2017 | $28.3 billion |
| 2018 | $39 billion |
| 2019 | $37.3 billion |
| 2020 | $38.8 billion |
| 2021 | $48.4 billion |
| 2022 | $22.8 billion |
| 2023 | $23.5 billion |
| 2024 | $24.5 billion |
Highlights
Here are some of the best things about Jack Ma’s career:
- Foreign tourists are offered city tours in exchange for learning English
- Graduated from Teachers Institute of Hangzhou (1988)
- Rejected for several jobs including manager position at KFC
- Hired as an English teacher at the local university, paid $12 a month
- Gathered 17 friends in his apartment and asked them to invest in Alibaba
- Yahoo invests $1 billion in Alibaba (2005)
- Resignation as CEO (2013)
Favorite Jack Ma Quotes
“Today is hard, tomorrow will be worse, but the day after tomorrow will be sunny.” – Jack Ma
“If you never try, how will you ever know if there’s a chance?” – Jack Ma
“Opportunities are where there are complaints.” — Jack Ma
“If we want to change the world, we must change ourselves.” – Jack Ma
“For once in your life, try something. Work hard at something. Try a change. Nothing bad can happen.” – Jack Ma
Check out our big collection of the best Jack Ma quotes!
Summary
Rejection has been present in Jack Ma’s life since his teenage years, and he’s faced a lot of it.
But his story, from being rejected from a job at KFC to founding one of the most valuable companies in the world, is an inspiration to all of us.
Jack Ma’s net worth is estimated to be $24.5 billion by 2024.
What do you think about Jack Ma’s net worth? Comment below.
Source: https://th-xuyenmoc.edu.vn
Category: Net worth