Jack Ma (Founder of Alibaba) | BILLIONAIRE BIOGRAPHY

Jack Ma is the founder of the largest e-commerce company Alibaba and fintech giant Ant Financial. He started from very huble beginnings to reaching incredible achievements through his company.
Is a chinese business magnate, he built one of the largest companies in the world: Alibaba. Furthermore he’s an investor in other companies and a politician in China.
Ma Yun was born in 1964 in Huagzou, China. He had a hard time at school, in China the tests to enter college are just once a year and he failed four times. But he knew English very well because, as a kid he used to go to the Huagzhou International Hotel and worked as a guide to international tourists. One of these tourists struggled to pronounce his Chinese name so he surnamed him Jack, that’s when he started being called Jack. He made It to attend Huangzhou teachers institute where he got a degree in English. He applied for several jobs but he got refused many many times. For example, when KFC opened in Huagzhou he applied along with other 23 people. Jack was the only one not to be hired.
In 1994 he started his first company, Huangzhou Haibo Translation Agency. In 1995 he went to the US for a trip with friends. He was introduced to the internet and noticed that there was nothing about China on it and he couldn’t find anything about Chinese companies. So he created a website about China and just in a few hours he started receiving emails from investors willing to invest in his website. So he started his second business. So he started ChinaPages.com in the US. In three years he made $800 thousand with it.
His company later started building websites for Chinese companies.
He later headed the governments’ China International Electronic Commerce Center. In 1999 he went back to Huangzhou to start Alibaba, the china based business to business marketplace. He started it in his house with 18 friends and collaborators. Within 99 and 2000 Alibaba received $25 million dollars from venture capital firms. In the early 200s Alibaba expanded starting TaoBao which is the largest Business to consumer e-commerce website. He even started AliPay, now renamed into Ant Financial. It is the most highly valued fintech company in the world and it was estimated that more than 50% of all online payments in China work through this company.
He later created Ali Mama which is the group’s digital marketing company. After the rapid growth of TaoBao, Jack Ma received an offer from Ebay to buy it but he refused and kept the company.
In 2005 Yahoo invested $1 billion in Ma’s company. In 2008 he started Tmall which is another Business to consumer platform active in China, Macau, Hong Kong and Taiwan.
In 2009 Alibaba launched its cloud computing services.

In 2014 Alibaba participated in a founding round for Lyft, the American mobility company and bought 50% of the shares of the Chinese soccer club Guangzhou Evergrande FC.
Later that year, Alibaba went public on the NYSE and had the biggest IPO at that time raising $25 billion.
In 2017 Alibaba announced a sponsorship deal with the Olimpic games until 2028 worth $800 million. In the same year Jack Ma went to discuss with Donald Trump the possibility to create 1 million jobs in the US through Alibaba but it didn’t work out because of the trade war between the US and China. In 2018 Jack Ma announced he would step down from the position of executive chairman in Alibaba.
He received a countless number of awards like a honorary degree from Hong Kong University of Science and Technology. He was named into Times’ 100 most powerful people, Barron’s named him one of the 30 best CEOs in the world, BusinessWeek nominated him Businessperson of the year in 2007 and many many others.
In 2010 he had stated that the 0.3% of Alibaba revenue would be used for environmental protection. In 2018 it was announced that Jack Ma was a member of the Chinese Communist party and he received criticism for supporting the 996 working hours system in China which allows companies to have people working for 12 hours.
Jack also started his foundation, Jack Ma Foundation which is focused on education, environment and public health. In 2008 Alibaba donated to the victims of the Sichuan Earthquake $808 thousand. In 2015, Alibaba launched a non-profit organization, Alibaba Hong Kong Young Entrepreneurs Foundation, which support Hong Kong entrepreneurs to help them grow their businesses.
he same year, the company funded the rebuilding of 1,000 houses damaged by the earthquake-hit in Nepal, and raised money for another 9,000.
In 2019 Jack Ma's foundation started the Netpreneur initiative that grants ten prizes of one million dollars each to ten African entrepreneurs per year[33] and launched a fund with $14.6 million to develop education in Tibet.




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