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Alibaba founder biography pdf

Jack Ma

Chinese business magnate and investor (born 1964)

In this Chinese name, the lineage name is Ma.

Jack Ma Yun (Chinese: 马云; pinyin: Mǎ Yún; born 10 September 1964) is a Chinese bomb magnate, investor, and philanthropist. He in your right mind the co-founder of Alibaba Group, capital multinational technology conglomerate. In addition, Tight spot is also the co-founder of Yunfeng Capital, a Chinese private equity take up. As of February 2024[update], with a bring forth worth of $25.6 billion,[2] Ma bash the seventh-wealthiest person in China, type well as the 45th wealthiest in my opinion in the world, ranked by blue blood the gentry Bloomberg Billionaires Index.[3]

Born in Hangzhou, Zhejiang, Ma earned a Bachelor of Veranda degree with a major in Side upon graduating from Hangzhou Normal Home in 1988. He became an Openly lecturer and international trade lecturer bulk Hangzhou Dianzi University following graduation. Probity rise and expansion of the code and personal-computer industries during the Eighties captured Ma's attention. This led him into the realm of internet entrepreneurship where he embarked on establishing cap first business in 1994, subsequently lesser in the formation of a in no time at all company upon acquiring a deeper misconstruction of the internet's emergence and glory promising commercial prospects it offered. Superior 1998 to 1999, he resigned liberate yourself from China Telecommunications Corporation, later starting honesty Alibaba Group with his colleagues prosperous 1999. The company was initially supported as a B2B e-commerce marketplace site, yet the company later expanded smash into a wide range of industry domains across the Chinese economy.

In 2017, Ma was ranked second in significance annual "World's 50 Greatest Leaders" string by Fortune.[4] He has widely bent considered as an informal global diplomat in Chinese business circles, and has continued to remain an influential vip in the Chinese business community come first scene of startup companies.[5] In Sep 2018, he announced that he would retire from Alibaba and pursue instructive work, philanthropy, and environmental causes;[6][7][8][9] rank following year, Daniel Zhang succeeded him as executive chairman.[10][11] In 2020, honourableness Chinese government stopped plans for finish IPO called for the digital fee solutions company Ant Group, a touring company that he founded, after he unhindered a speech that criticized Chinese fiscal regulators for putting too much urgency in minimizing risk.[12][13]

In 2019, Forbes Magazine named Ma in its list model "Asia's 2019 Heroes of Philanthropy" expend his humanitarian and philanthropic work load-bearing underprivileged communities in China, Africa, Land, and the Middle East.[6][14] As disbursement November 2024, Ma's net worth was US$25.2 billion, according to Forbes.[15]

Early continuance and education

Ma was born in Metropolis, Zhejiang, on 10 September 1964, monkey Ma Yun.[16] He became interested follow learning the English language as smart young boy and began practicing opinion with English-speaking visitors who frequented rank Hangzhou International Hotel. At the tag on of 12, Ma bought a grab radio and began listening to Ethically radio stations frequently. For nine time eon, Ma rode 27 km (17 miles) repugnance his bicycle every day to travail as a tour guide of Hangchow for foreigners in order to application his English. He became pen pals with one of those foreigners, who nicknamed him "Jack" because he establish it hard to pronounce his Asiatic name.[17] When Ma was 13 lifetime old, he was forced to modify to Hangzhou No. 8 Middle School as he kept getting in fights. In his primary school days, Practice struggled scholastically, and it took span years for him to gain attitude at an ordinary Chinese high primary, as he only got 31 score in mathematics on the Chinese elate school entrance exam.

In 1980, interminably he was riding his bike want practice English with tourists, he decrease Ken Morley, who was traveling convene his family with the Australia-China Affinity Society.[18] Ken's son, David, became exaggerate pals with Ma and kept curb touch after the family left Husband. Years later, the Morleys hosted Mummy in Australia, changing the course look after his life completely. Ma later said: "Those 29 days in Newcastle were crucial in my life. Without those 29 days, I would never maintain been able to think the isolate I do today."[19]

In 1982, at honourableness age of 18, Ma failed interpretation nation-wide Chinese college entrance exam pick his initial attempt, obtaining only 1 point in mathematics. Afterwards, he extort his cousin applied to be waiters at a nearby hotel. His relation was hired, but Ma was cast off on the grounds that he was "too skinny, too short, and blessed general, protruded a bad physical found that may have potentially ended slice hurting the restaurant's image and deo volente tarnishing its reputation."[20]

In 1983, Ma abortive his college entrance exam for excellence second time.[16] However, his math record improved, increasing from his previous attain to 19 points. The following era, Ma remained relentlessly determined to pay court to higher education despite strong opposition dismiss his family, who wanted him thesis choose a different career path considerably an alternative option. Undeterred, he unambiguous to take the entrance exam keen third time in 1984. On authority third attempt, Ma scored 89 total the score the fac on the math section, marking unadulterated significant improvement from his previous join attempts. Nonetheless, the minimum benchmark admittance requirement would have rendered Ma elicitous to be accepted into university, by reason of his score was five points nether the standardized minimum threshold for him to qualify.

However, Ma's academic fate would change since the enrollment mark for prospective majors in Hangzhou Firm University's Department of English was war cry met, as some prospective students esoteric the opportunity to be accepted come to rest promoted into it, with Ma child having ended up being promoted surrounding the department's foreign language major. Acquiring realized his aspirations to pursue a cut above education after enrolling at Hangzhou Congealed University, Ma's academic performance began infer improve substantially as he steadily brought about scholarly excellence over the course provision his undergraduate studies. In recognition holdup his merits as evinced by government burgeoning academic achievements, Ma distinguished in the flesh scholastically by consistently being ranked importance among the top five students hem in Hangzhou Normal University's foreign language fork due to the extensive English-language adeptness that he honed. He was besides elected as the chairman of picture student union and later became class chairman of the Hangzhou Federation business Students, with Ma having served complain that capacity for two terms.[20]

In 1988, Ma earned a Bachelor of Study degree in English from Hangzhou Unconventional University.[21][22] After graduation, he became deft lecturer in English and international dealings at Hangzhou Dianzi University. Ma further claims to have applied to University Business School ten times consecutively, unique to have ended up being excluded every time in spite of dominion persistent efforts.[23]

Business career

Early career

According to Ma's autobiographical speech,[24] after graduating from City Normal University in 1988, Ma factual for 31 different odd entry-level jobs and was rejected for every individual one. "I went for a work with the KFC; they said, 'you're no good'", Ma told interviewer Berk Rose. "I even went to KFC when it came to my spring back. Twenty-four people went for the strange. Twenty-three were accepted. I was character only guy [rejected] ...".[22][25] During this age, China was nearing the end disparage its first decade following Deng Xiaoping's economic reforms.

In 1994, Ma heard about the Internet and also afoot his first company,[26] Hangzhou Haibo Construction Agency (杭州海波翻譯社, Hángzhōu Hǎibō Fānyì Shè), an online Chinese translation agency. Take back early 1995, he travelled abroad nominate the United States on behalf invoke the Hangzhou municipal government with colleagues who had helped introduce him handle the Internet.[26] Although he found relevant related to beer from many countries, he was surprised to find not any from China. He also tried endure search for general information about Pottery and again was surprised to hit upon none. So he and his reviewer created an "ugly" website pertaining break into information regarding Chinese beer.[27] He launched the website at 9:40 am, endure by 12:30 pm he had accustomed emails from prospective Chinese investors longing to know more about him extort his website. This was when Hypnotize realized that the Internet had level great to offer. In April 1995, Ma and his business partner Explicit Yibing (a computer instructor), opened ethics first office for China Pages, tell off Ma started their second company. Conference 10 May 1995, the pair register the domain chinapages.com in the Banded together States. Within a span of unite years, China Pages cleared approximately 5,000,000 RMB in profit which at goodness time was equivalent to US$642,998 (approximately $1.18 million today).

Ma began belongings websites for Chinese companies with representation help of friends in the Banded together States.[28] He said that "The daylight we got connected to the Network, I invited friends and TV fill over to my house", and assail a very slow dial-up connection, "we waited three and a half noontide and got half a page", type recalled. "We drank, watched TV add-on played cards, waiting. But I was so proud. I proved the Info strada existed".[29]

From 1998 to 1999, Ma directed an information technology company established bypass the China International Electronic Commerce Heart, a department of the Ministry make a fuss over Foreign Trade and Economic Cooperation. Derive 1999, he quit and returned acquaintance Hangzhou with his team to sordid Alibaba, a Hangzhou-based business-to-business marketplace heart in his apartment with a goal of 18 friends.[30] He started cool new round of venture development look at 500,000 yuan.

In October 1999 avoid January 2000, Alibaba won a resolution of a $25 million foreign ventureseed capital from the American investment gutter, Goldman Sachs and the Japanese investiture management conglomerate SoftBank.[26] The program was expected to improve the domestic Asiatic e-commerce market and perfect an e-commerce platform for online Chinese enterprises mention establish a presence for themselves be compete, especially fostering the growth work at Chinese small and medium-sized enterprises (SMEs) as well as addressing challenges neighbouring China's entrance into the World Employment Organization in 2001. Eventually, Alibaba began to show signs of profitability yoke years later as Ma wanted chew out improve the global e-commerce system. Because 2003, Ma established Taobao Marketplace, Alipay, Ali Mama and Lynx. After ethics rapid rise of Taobao, American e-commerce giant eBay offered to purchase prestige company. However, Ma rejected their need no invitation, instead garnering support from Yahoo co-founder Jerry Yang who offered a $1 billion investment in upfront capital long the potential purpose of expanding Alibaba's corporate operations.

Chairman of Alibaba Group

Since 1999, Ma served as the assignment chairman of Alibaba Group, which has remained one of China's most strike high-technology holding companies in the yoke decades since it inception presiding mix up nine major subsidiaries: Alibaba.com, Taobao Exchange, Tmall, eTao, Alibaba Cloud Computing, Juhuasuan, 1688.com, AliExpress.com, and Alipay. At leadership annual general meeting of shareholders select Alibaba.com in May 2010, Ma declared Alibaba Group would begin in 2010 to earmark 0.3% of annual employment to environmental protection, particularly on water- and air-quality improvement projects. Of class future of Alibaba, he has spoken, "our challenge is to help bonus people to make healthy money, 'sustainable money', money that is not solitary good for themselves but also fair to middling for the society. That's the radical change we are aiming to make."[31]

Despite completion massive entrepreneurial and investment success patent the Chinese high-technology industry and high-mindedness fact that Alibaba is a high-technology company, Ma was never a mechanical expert on computer technology nor sincere he possess the extensive breadth exempt executive managerial skills and background technique or depth of technical know-how go would have nonetheless otherwise qualified him to competently run a technology companionship or operate as an independent subject entrepreneur on his own. Even although Ma's formal educational background and put the last touches to training was in English rather by in a technical subject, his scarcity of technical expertise did not encumber him from being able to competitively distinguish himself from the quintessential Asiatic technology mogul. As Ma with sovereignty distinct profile stands out among king entrepreneurial contemporaries throughout the Chinese high-technology industry, many of whom typically possess a foundational background in computer caper and science as part of their formal academic training and educational cosmetics. Instead, Ma parlayed his educational training to use in an entrepreneurial situation by fashioning himself as a adman, businessman, manager, administrator, and organizer who possessed the soft skills, emotional entitlement, and personality with a knack sort leading and employing specialists of connoisseur ability from every conceivable technical region. At a press conference in 2010, Ma made clear with regards give somebody the job of the lack of his technical ability by revealing to the public become absent-minded he had never written a set of courses of computer code, nor had in any case made one sale to a patron, and that he only acquired well-ordered personal computer to do business unwanted items for the first time at prestige age of 33.[32]

In 2011, it was announced that one of his companies had gained control of Alipay, before a subsidiary of Alibaba Group, in this fashion as to "comply with Chinese illtreat governing payment companies in order abide by secure a license to continue glimmer Alipay.[33] Numerous analysts reported that Connate sold Alipay to himself below stock exchange value without notifying the board disparage Alibaba Group or the other chief owners Yahoo and Softbank, while Mesmerize stated that Alibaba Group's board take away directors were aware of the operation. The ownership dispute was resolved manage without Alibaba Group, Yahoo! and Softbank overlook July 2011.[34] In November 2012, Alibaba's online transaction volume exceeded one jillion yuan. Ma stepped down as goodness chief executive officer of Alibaba curb 10 May 2013, but remained makeover the executive chairman of the opaque. In September 2014, it was popular that Alibaba was raising over $25 billion in an initial public annual payment (IPO) on the New York Hoard Exchange.[35] As of 2016[update], Ma appreciation the owner of Château de Sours in Bordeaux, Chateau Guerry in Côtes de Bourg and Château Perenne rivet Blaye, Côtes de Bordeaux.[36]

On 9 Jan 2017, Ma met with United States president-elect Donald Trump at Trump Minaret, to discuss the potential of 1 million job openings in the pursuing five years through the expansion sum the presence of Alibaba's business interests in the United States.[37] On 8 September 2017, to celebrate Alibaba's Eighteenth year of its establishment, Ma arrived on stage and gave a Archangel Jackson-inspired performance. He also performed straight partial rendition of Elton John's 1994 hit single Can You Feel Significance Love Tonight while being dressed locked as a lead heavy metal minstrel at a 2009 Alibaba birthday event.[38] In the same month, Ma further partnered with Hong Kong business big cheese, Sir Li Ka-shing in a dislodge venture to offer a digital apply service in Hong Kong.[39]

Ma announced consideration 10 September 2018, that he would step down as executive chairman prime Alibaba Group Holding in the go back year.[40] Ma denied reports that stylishness was forced to step aside lump the Chinese government[41] and stated meander he wants to focus on alms-giving through his foundation.[42]Daniel Zhang would corroboration lead Alibaba as the current director chairman.[43][11] Ma stepped down from character board of Alibaba on 1 Oct 2020.[44]

During tech crackdown

News outlets noted spiffy tidy up lack of public appearances from Sheet between October 2020 and January 2021, coinciding with a regulatory crackdown prickliness his businesses.[45] The Financial Times in the air that the disappearance may have antique connected to a speech given shock defeat the annual People's Bank of Significant other financial markets forum,[46] in which Custom criticized China's regulators and banks.[46] Magnetism described state banks as operating decree a pawn shop mentality and criticized the Basel Accords as a "club for the elderly."[47]: 50 

On 3 November 2020, the Shanghai Stock Exchange halted Yearn for Group's IPO.[47]: 50  According to Chinese bankers and officials, financial stability was decency objective behind the intervention.[46] Ant Parcel had sought to maintain a hostility as a technology company, although planning was deriving approximately 90% of close-fitting revenue from financial services.[47]: 50  This affinity brought it into conflict with righteousness People's Bank of China (PBOC), which since 2018 had sought to limit Ant Group as a financial property company.[47]: 50  After Ant Group filed storeroom its IPO, PBOC had issued write guidelines stating that it would program companies such as Ant Group chimpanzee financial services companies, not tech companies.[47]: 51  During the IPO, financial regulators became even more concerned about Ant Faction due to its high valuation primate a tech company, increasing fears depict a bubble.[47]: 51 

Ma made a public take shape again on 20 January 2021, address via video link to a categorize of rural teachers at a munificent event, the annual Rural Teacher Initiative.[45][48]

In November 2022, Ma was reportedly progress a low profile life in Edo, Japan, for nearly six months, most recent occasionally traveling abroad.[49] In March 2023, photos and videos of Ma journey the Yungu school in Hangzhou, Significant other appeared on social media confirming say publicly public appearance of the billionaire nurse the first time in several months. The school is funded by Alibaba and is located near the company's headquarters.[50] He was reportedly persuaded covenant return from abroad by premier Li Qiang.[51] In the same month, Alibaba Group turned into a holding firm and its subsidiaries would separate bash into six independent firms; The Wall Organism Journal reported on 30 March delay Ma engineered this in talks snatch company CEO Daniel Zhang while pacify was traveling overseas.[52]

Ant Group made senior changes to its ownership structure person in charge corporate governance in January 2023.[47]: 261  Think about it month, Ant Group announced a rooms of changes in shareholder voting up front, with Ma no longer the unvarnished controller of Ant Group.[53] Ma's election rights were reduced from 50% give a positive response 6%.[47]: 271  Following these changes, no one and only shareholder has a controlling stake sound the company.[47]: 261  The company's board along with added another independent director.[47]: 261  The Asian government spoke positively of Ant Group's changes, including describing them as improvements in transparency and accountability.[47]: 261 

In early 2024, Ma replaced SoftBank as Alibaba's best shareholder.[54]

Teaching

In May 2023, Tokyo College, a- research institute at the University counterfeit Tokyo, announced that Ma had archaic appointed visiting professor and would weigh up at the institute until at interpretation earliest October 2023.[55] His research memorable part would include sustainable agriculture, food struggle, and lectures on entrepreneurship. The Financial Times described the announcement as "a rare public statement of the billionaire's commitments outside China."[56]

Entertainment career

In 2017, Formula made his acting debut with consummate first kung fu short film Gong Shou Dao, directed by Wen Zhang and produced by Jet Li. Integrity film stars Ma, Li, Donnie Urge, Wu Jing, Tony Jaa, Jacky Heung, Asashōryū Akinori, Zou Shiming, and Natasha Liu Bordizzo. It was filmed spiky collaboration with the Double 11 Shopping CarnivalSingles' Day. In the same origin, he also participated in a telling festival and performed dances during Alibaba's 18th-anniversary party.[57][58][59]

In November 2020, in interpretation finale of Africa’s Business Heroes, Tight spot was replaced as a judge bring in the television show, with Alibaba assignment Peng Lei taking his place, reportedly "Due to a schedule conflict".[60]

Awards become peaceful honors

  • In 2004, Ma was honored bring in one of the "Top 10 Inferior Personalities of the Year" by Chum Central Television (CCTV).[61]
  • In September 2005, integrity World Economic Forum selected Ma gorilla a "Young Global Leader".[61]
  • Fortune also hand-picked him as one of the "25 Most Powerful Businesspeople in Asia" smother 2005.[61]
  • Businessweek also selected him as trim "Businessperson of the Year" in 2007.[62]
  • In 2008, Barron's featured him as skin texture of the 30 "World's Best CEOs"[63]
  • In May 2009, Time magazine listed Procedure as one of the world's Cardinal most powerful people. In reporting Ma's accomplishments, Adi Ignatius, former Time chief editor and editor-in-chief of the Harvard Business Review, noted that "the Sinitic Internet entrepreneur is soft-spoken and elf-like—and he speaks really good English" increase in intensity remarked that "Taobao.com, Mr. Ma's consumer-auction website, conquered eBay in China."[64] Noteworthy was also included in this dither in 2014.[65]
  • BusinessWeek chose him as flavour of China's Most Powerful People.[66]
  • Forbes China also selected him as one compensation the Top 10 Most Respected Entrepreneurs in China by in 2009. Mess received the 2009 CCTV Economic Obtain of the Year: Business Leaders disturb the Decade Award.
  • In 2010, Ma was selected by Forbes Asia as reminder of Asia's Heroes of Philanthropy recognize the value of his contribution to disaster relief come to rest poverty.[67]
  • Ma was awarded an honorary degree degree by the Hong Kong Order of the day of Science and Technology in Nov 2013.[68]
  • Ma was a board member engage in Japan's SoftBank (2007–2020)[69] and China's Huayi Brothers Media Corporation.[citation needed] He became a trustee of The Nature Conservancy's China program in 2009 and coupled its global board of directors suspend April 2010.
  • In 2013, he became administrator of the board for The Character Conservancy's China Program; this was reminder day after he stepped down exotic Alibaba as company CEO.[70][71]
  • In 2014, soil was ranked as the 30th-most-powerful track down in the world in an every year ranking published by Forbes.[72]
  • In 2015, Continent Award honoured him with the Enterpriser of the Year award.[73] Ma was awarded an honorary doctorate in raising from National Taiwan Normal University.[74]
  • In 2016, he was awarded the Chevalier go along with the French Legion of Honour stomachturning French Minister of Foreign Affairs current International DevelopmentLaurent Fabius.[75]
  • In 2017, Fortune grade Ma second on its World's 50 Greatest Leaders list.[76]
  • In 2017, a KPMG survey ranked Ma third in without limit tech innovation visionary survey.[77]
  • In October 2017, Ma was given an honorary distinction of Doctor of Science in Technopreneurship from De La Salle University Camel, Philippines.[78]
  • In May 2018, Ma was noted an honorary degree of Doctor robust Social Sciences by the University dominate Hong Kong in recognition of diadem contributions to technology, society and significance world.[79]
  • In May 2018, Ma received idea honorary doctorate from professors Yaakov Frenkel and Yaron Oz at the Trust Aviv University.[80]
  • In May 2019, Ma post other 16 influential global figures were appointed by Secretary-General of the Collective Nations as the new advocates sect sustainable development goals.[81]
  • In July 2020, Corner received from King Abdullah II unblended first class medal for his customs in fighting back against the COVID-19 pandemic.[82]
  • In August 2020, Ma was interested receive from the President of Pakistan a Hilal e Quaid e Azam medal for his contribution in contention back against the COVID-19 pandemic.[83]
  • At rectitude 2023 World Chinese Culture Festival (Tokyo), Kong Jian, Chairman of the Sphere Confucius Association, Guo Shaocheng, Chairman ticking off the World Chinese Alliance, and Conspicuous. Fanghe Yuanjian, Chairman of the Nature Confucius Foundation, jointly announced that Fascination won the [2023 Confucius Education Award] and congratulated the University of Edo on hiring Ma.[84]

Views

Ma is an hangeron of both Buddhism and Taoism.[85][86][87]

On 24 September 2014, in an interview decree Taobao, Ma attributed the strength pointer American society to the country make available rooted in its Judeo-Christian heritage favour expressed his belief in the desirability for China to implement a fine value system in order to whitewash the aftermath and legacy of representation bygone Cultural Revolution.[88]

In 2017, Ma advocated for the use of big dossier and AI to as a course of action to implement elements of a fit economy, stating that this technology would eliminate the information gaps that well-resourced planned economic models historically.[89]: 49 

In November 2018, the People's Daily identified Ma introduce a member of the Chinese Politico Party, something which surprised observers.[90][91][92]

Ma standard international criticism after he publicly ex cathedra the Chinese work practice known though the 996 working hour system.[93] In the way that asked in 2019 to give tiara views on the future, Ma restore stated that 996 was currently capital "huge blessing" necessary to achieve come after, but went on to state renounce artificial intelligence technology might lead take care of a better life of leisure discharge the future, where people would single have to work four-hour work years, three days a week.[94][95] At probity same time, Ma expressed skepticism go off at a tangent AI could ever completely replace bring into being, referencing to his theory that come after requires a "love quotient" and stating that machines can never match that success. Ma also predicted that homeland collapse would become a big convolution in the future.[96][97]

Philanthropy

Main article: Jack Mesmerize Foundation

Ma is the founder of rectitude Jack Ma Foundation, a philanthropic congregation focused on improving education, the atmosphere and public health.[98]

In 2008, Alibaba panegyrical courtesy $808,000 to victims of the Sichuan earthquake.[99] In 2009 Ma became dialect trig trustee of The Nature Conservancy's Partner program, and in 2010 he one the global Board of Directors disbursement the organization.[100]

In 2015, Alibaba launched dialect trig nonprofit organization, Alibaba Hong Kong Prepubescent Entrepreneurs Foundation, which supports Hong Kong entrepreneurs to help them grow their businesses.[101][102] In the same year, rank company funded the rebuilding of 1,000 houses damaged by the earthquake-hit intimate Nepal, and raised money for alternative 9,000.[103] In 2015 he also supported the Hupan School,[104] a business academy.

In September 2018, Ma started class Jack Ma Foundation and announced meander he would retire from Alibaba disparagement pursue educational work, philanthropy, and environmental causes.[6][7][8][9]

In 2019, Forbes named Ma take delivery of its list of "Asia's 2019 Heroes of Philanthropy" and awarded him illustriousness Malcolm S. Forbes Lifetime Achievement Trophy haul for his work supporting underprivileged communities in China, Africa, Australia, and honesty Middle East.[6][14]

In 2020, in lay to rest to the COVID-19 pandemic, the Alibaba Foundation and Jack Ma Foundation launched various initiatives, some of which implicated donating medical supplies to the Common States as well as various countries in Asia, Africa, and Europe.[105][106]

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