Did you know about Jack Ma net worth? Jack Ma is the former executive and co-founder of a Chinese multinational business holding company “Alibaba Group” which is one of the world’s largest e-commerce businesses.
Jack Ma has faced so many rejections that one can’t even imagine. Instead of letting himself down and mourning over his failures, Jack Ma learned from his mistakes and improved himself to emerge as a successful billionaire on the international platform.
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Jack Ma’s Net Worth 2019:
As of 2019, Jack Ma net worth is $37.1 Billion making him the 21st person on the list of the world’s wealthiest people according to Forbes.
Life:
Born in the city of Hangzhou in China on September 10, 1964, Jack Ma wasn’t from an economically well-off family. He had a keen interest in learning English and worked very hard to improve it.
He traveled to the city’s central hotel to serve as a guide for tourists and in exchange learned English from them. On being passed from high school, he applied for higher studies in college but got rejected twice as he failed the entrance test. Such tests are held only once a year. At last, his third try was worth all of his failures, and he got his admission.
He started teaching as an English teacher at a local university for $12 a month, which wasn’t even able to fulfill his expenses. For 10 times he applied to Harvard University, but every try ended up in rejection.
Career:
After graduation from college in 1988, he started applying for different jobs but faced a lot of rejections. Twenty-four people applied for a job at KFC, 23 got selected while the only one who got rejected was Jack Ma.
1995, the time when the spread of the internet was at its peak, Jack Ma was very surprised by what it could do. He founded an internet company for China, but it wasn’t that much of a success as the competition was very high.
After two failed ventures, Jack Ma, along with his 17 friends, founded Alibaba in 1999. On this site, exporters were able to post about their products and the customers were able to make purchases. Alibaba came out as a complete success catching the eye of many investors.
In 2005, yahoo invested $1 billion in Alibaba in exchange for a 40% stake as it netted yahoo about $10 billion.
In 2014, Ma became the wealthiest person in China with a net worth of $25 billion at that time when the company made an offering of $150 billion worth IPO. Currently, Ma has a 7.8% stakeholder in Alibaba and 50% in Alipay, which is a payment processing service.
Jack Ma’s life is a source of motivation for everyone as he never let himself down despite having a lot of failures.
Jack Ma Net worth 2020:
According to Forbes, Jack Ma is the 21st wealthiest person in the world.
Jack Ma net worth of $43.9 Billion as of 2020.
