Jack Ma, who is he? Jack Ma or Ma Yun (Chinese: 马云; born September 10, 1964) is a Chinese business magnate and philanthropist. He is the founder and Executive Chairman of Alibaba Group, a family of highly successful internet-based businesses.
He is the first mainland Chinese entrepreneur to appear on the cover of Forbes. As of November 2014, he is the richest man in China and 18th richest man in the world with an estimated net worth of $29.7 billion, according to Bloomberg Billionaires Index.
Jack Ma, the founder and executive chairman of Alibaba, became the richest man in China after Alibaba IPO’d for a record $25 billion. But Ma was just as happy — perhaps even happier — when he was barely making any money right out of college.
After graduating in 1988, Jack Ma worked as an English teacher at a local university in his hometown of Hangzhou, China. He only made $12 a month, according to the documentary about his life called ‘Crocodile in the Yangtze.’
When speaking at a luncheon with the Economics Club of New York, Ma referred to this period as the “best life I had.” When you don’t have much money, you know how to spend it, Ma explained. But once you become a billionaire, you have a lot of responsibilities.
“If you have less than $1 million, you know how to spend the money,” he said during a speech.” At $1 billion, that’s not your money…The money I have today is a responsibility. It’s the trust of people on me.”
Ma says he feels a need to spend his money “on behalf of the society.”
“I spend it our way,” he said. “It’s a trust.”
This isn’t the first time Ma has spoken about the burden of being a billionaire. When speaking at a panel at the Clinton Global Initiative in New York, he referred to his days as an English teacher as “fantastic,” according to CNN Money. He said anyone with $1 million is “lucky,’ but when you reach $10 million, “you’ve got troubles.”
After Alibaba’s IPO, he told CNBC that the pressure that comes with the responsibility gets to him, especially now that the world is focusing on Alibaba’s stock price.
“IPO is great because … I’m happy with the results,” he said to CNBC. “But honestly, I think when people think too highly of you, you have the responsibility to calm down and be yourself.”
Your favorite Jack Ma Quotes.
• You need the right people with you, not the best people.
• No matter how tough the chase is, you should always have the dream you saw on the first day. It’ll keep you motivated and rescue you (from any weak thoughts).
• We’re never in lack of money. We lack people with dreams, (people) who can die for those dreams.
• I call myself a blind man riding on a blind tiger. Never ever compete on prices, instead compete on services and innovation.
• Instead of learning from other people’s success, learn from their mistakes.
• Most of the people who fail share common reasons(to fail) whereas success can be attributed to various different kinds of reasons.
• Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.
• Help young people. Help small guys. Because small guys will be big. Young people will have the seeds you bury in their minds, and when they grow up, they will change the world.
• I try to make myself happy because I know that if I’m not happy, my colleagues are not happy and my shareholders are not happy and my customers are not happy.
• If you’ve never tried, how will you ever know if there’s any chance?
• If you don’t give up, you still have a chance. Giving up is the greatest failure.
• I don’t want people (in China) to have deep pockets but shallow minds.
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