Jack Ma, or Ma Yun, is a Chinese business magnate, investor and philanthropist, today we look at his net worth and lifestyle.
JACK MA NET WORTH – $50,900,000,000
|NAME: Jack Ma, or Ma Yun|
|BIRTHDAY: 10th September 1964|
|COUNTRY OF BIRTH: China|
|SOURCE OF WEALTH: Business|
|PLACE OF RESIDENCE: Hong Kong, China|
Born September 10th 1964, Jack Ma grew up in Hangzhou, Zhejiang, China and began speaking English at an early age thanks to his conversations with English-speakers at the Hangzhou International Hotel.
He spent the first nine years of his life riding nine kilometers while giving tourists tours of the local area to practice his English.
One foriegner became good friends with ma and nickmamed him Jack with his Chinese name hard to pronounce.
Jack Ma struggled while attending college, failing the entry exam for Hangzhou Teachers College twice.
It took Ma a further three years to pass the Chinese Entry Exams, before attending Hangzhou Teacher’s Institute and later graduating in 1988 with a Bachelor of Arts in English.
Jack Ma was head of the student council while attending college and later became a lecturer in English and international trade at Hangzhou Dianzi University.
Ma claims to have approached Harvard Business School several times with an application only to be rejected each time.
Beginning his career on a path of wealth, Jack Ma applied for 30 different odd jobs and was rejected by every one.
He started his first business on the internet, launching a wabsite about CHina from the USA and later, after significant intrest, launched a second business called Chinapages.com.
Within three years the company had made the equivilent of $800,000 dollars, and Jack Ma began building websites for Chinese companies.
Ma aquired a computer for the first time at 33 years old and originally relied on slow dial-up connections to build websites, sometimes waiting up to three hours for a page to load.
In 1999, Ma and several friends launched Alibaba, a business marketplace located in China from his apartment.
Alibaba won a total of a $25 million foreign venture capital investment from Goldman Sachs and Softbank in 2000.
Three years later, Alibaba was profitable and in 2003 Jack Ma founded several more companies including Taobao Marketplace, Alipay, Ali Mama and Lynx.
September 2014 came and went with a reported $25 Billion dollars being raised in preperation for the IPO of Alibaba, later becoming the largest public offering in US history.
Ma stepped down from the Alibaba board in September 2019, choosing to focus on philanthropy work within his foundation.
He briefly dissapeared from the public eye between October 2020 and January 2021 before re-appearing on 20th January 2021, speaking via video link to a group of rural teachers at a charitable event.
He was most recently seen golfing at the Sun Valley Golf Resort in the Chinese island of Hainan in February 2021.
Ma owns a considerable amount of property and business property including Château de Sours in Bordeaux, Chateau Guerry in Côtes de Bourg and Château Perenne in Blaye, Côtes de Bordeaux.
Ma also owns one of the largest properties in Hong Kong, thought to have cost close to $1.5 Billion Hong Kong Dollars, the home is also described as Asia’s most expensive home.
Purchased from the Belgian consul general in 2000, the home has undergone major renovations transforming the historical house into a modern building.
The house has four ensuite rooms, three bathrooms and seven living rooms and is covered in balcony’s for great views of the city.
The renovations took three years to complete and covers four storeys with a rooftop terrace where Ma and other residents can enjoy a 220-degree view of the Victoria Harbour.
Born to a poor family, Jack Ma’s mother and father were musicians and sometime storytellers.
Ma met Zhang Ying, also known as Cathy Zhang, from the Hangzhou area, while she was studying at University with him.
After their graduation in 1998, the couple married and she became an active developer in his businesses and also worked as a teacher.
The couple have three children together, a son named Ma Yuankun and a daughter, named Ma Yuanbao with the third child’s gender currently unknown.
Jack Ma has many, many friends around the world from Businessman to celebrity’s and he has been pictured with the likes of Adam Saddler and Jeff Bezos.
He has been photographed several times with Former President of the United States Donald Trump and the two do share a gret love of golf.
Ma also became good friends with Movado brand ambassador and International Emmy nominee Sun Li, whom says she has been friends with Ma for four years.
Jack Ma is well known in the world of Philanthropy and has often been involved in the improvement of the enviroment, education and public health.
He is a keen golfer and has been photographed at several golfing sites in and around China and the United States.
He has launched several non-profit organizations including the Alibaba Hong Kong Young Entrepreneurs Foundation and his own Jack Ma Foundation.
He was named in Asia’s 2019 Heroes of Philanthropy and was awarded the Malcolm S. Forbes Lifetime Achievement Award for his work supporting underprivileged communities in China.
During the 2020 global COVID-19 pandemic he was praised for his work in donating medical supplies to the United States as well as various other countries in Asia, Africa, and Europe.