How Alibaba’s Jack Ma Became The Richest Man in China!
One of us was not impressed by the offers of the Alibaba Commercial website, which makes fake gains with an incredible stature, which has become one of the biggest competitors in online sales alongside Amazon and eBay.
These sites have fallen prey to Black Friday, which has been trying to cut commodity prices significantly. Yet Jack Ma, the founder of a successful online business group led by Alibaba, has been able to make a staggering $ 29 billion.
Of course, you have questions about how Jack Ma started his career, how he lived and how he became an inspiring billionaire, and that’s what we’ll show you below.
Jack Ma was born on October 15, 1964, in Hangzhou, located in the southeastern part of China. He has a younger brother and younger sister, and he and his brothers grew up at a time when communist China was increasingly isolated from the West. His family did not have much money when they were Young.
After President Nixon’s visit to Hangzhou in 1972, he became a prominent tourist attraction, so when Jack was a teenager, he began to wake up early to visit the main hotel in the city, so that the visitors offered city tours in exchange for English lessons.
After high school, he applied to go to college – but he failed the entrance exam twice, but after a great deal of study, was finally accepted in the third attempt, to join the Hangzhou Teachers Institute, graduated in 1988 and began to apply for as many jobs as possible.
He was rejected by more than a dozen refusals – including from KFC – before being appointed as an English teacher, Jack was fond of his work even though his salary was only $ 12 a month at the local university.
At the World Economic Forum in 2016, Jack revealed what he had rejected from Harvard – 10 times!
Jack did not have experience in computers or coding, but was fascinated by the Internet when he first used it on a trip to the United States in 1995 – where he began translating and traveled with a Chinese company that sponsored a trip – and the first online search of “beer” , But he was surprised that did not find that the Chinese beer appear in the results, and from here he had decided to set up an online company of China.
Despite the failure of his first two projects, four years later he gathered 17 friends in his apartment and persuaded them to invest in his vision of an online market called Baba. The site allows exporters to publish lists of products that customers can buy directly.
Over a short period of time, the service began to attract members from all over the world. By October 1999, the company had raised $ 5 million from Goldman Sachs and $ 20 million from Softbank, a Japanese telecom company that also invests in technology companies. The team remained strong. “We are young,” Jack told a group of employees. Yaffa, and we will not receive ”
Jack Ma kept the fun in Alibaba, where Jack said there were periods of rest to maintain energy levels.
In 2005, Yahoo invested $ 1 billion in Alibaba for about 40% of the company. This was a huge event for Papa – while he was trying to win it on the eBay website in China.
This was the main spark of Jack Ma’s Malion, and the spread of Ali Baba worldwide.
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