Jack Ma: Failure and Rejection Has Its Price #jackma #motivation #alibaba

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Jack Ma Yun is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. In addition, Ma is also the co-founder of Yunfeng Capital, a Chinese private equity firm. As of January 2023, with a net worth of $34.1 billion, Ma is the fifth-wealthiest person in China , as well as the 34th wealthiest person in the world, ranked by Bloomberg Billionaires Index.[2]

Born in Hangzhou, Zhejiang, Ma graduated from Hangzhou Normal University. He became an English lecturer and international trade lecturer at Hangzhou Dianzi University after graduation. Taking an interest in the internet, he established his first business in 1994, only to end up forming a second company after learning more about the internet and the commercial business possibilities that could be potentially exploited from its emerging growth. From 1998 to 1999, he led an information technology company founded by the Chinese government, later leaving it to start the Alibaba Group with his colleagues in 1999. Initially founded as B2B e-commerce marketplace website, the high-tech company later expanded to a wide range of industry domains across the Chinese economy, including e-commerce, high-technology, and online payment solutions.

In 2017, Ma was ranked second in the annual "World's 50 Greatest Leaders" list by Fortune. He has widely been considered as an informal global ambassador in Chinese business circles, and has continued to remain an influential figure in the Chinese business community and scene of startup companies. In September 2018, he announced that he would retire from Alibaba and pursue educational work, philanthropy, and environmental causes; the following year, Daniel Zhang succeeded him as executive chairman. In 2020, the Chinese government stopped plans for an IPO called for the digital payment solutions company Ant Group, a company that he founded after he delivered a speech that criticized Chinese financial regulators for putting too much priority in minimizing risk.