What is Jack Ma’s Net Worth?
Jack Ma’s net worth today is $34 billion.
Jack Ma is a Chinese entrepreneur. He founded Alibaba Group, which has a number of online businesses. Ma had to deal with rejections every day before he was able to create Alibaba.
A man once told that he was not good enough to be a successful entrepreneur, but he has become one of the most wealthy people in the country.
Jack Ma was born in Hangzhou, China on the 10th of September 1964. Jack Ma was keen to learn English from a young age and went to great lengths in order to improve his skills.
He would actually ride his bike 70 minutes per day to Hangzhou’s International Hotel to exchange information with tourists. Ma started to offer free tours of the city in return for English lessons.
Ma failed to pass college entrance exams. The exams are held only once a year in China and took Ma 4 years to pass. He graduated from Hangzhou Teacher’s Institute and then became an English teacher. However, his salary was very low.
Jack Ma applied for several jobs but was rejected by all. 24 people applied to be managers when KFC arrived in China. 23 of them were approved. Ma was the only applicant who was rejected for the job.
Harvard University also rejected him ten times.
Ma first heard of the internet’s existence in 1995 while he was visiting the United States. Ma began to search the internet and found that China’s web presence was not as prominent in certain areas as it is in the rest of the globe.
This is how he started his first website, along with some friends. He also got several people to invest in it. Jack was thrilled with the success of his website and knew that he had found his niche.
Jack Ma founded Alibaba in 1999 and invited 17 of his friends to invest in the venture. It has grown to be the largest online marketplace in China and Jack Ma has become one of the wealthiest people in the world.
These are the top highlights of Jack Ma’s career:
- Offered city tours to foreign visitors in exchange for learning English
- Graduated from Hangzhou’s Teacher’s Institute (1988)
- Got rejected for many jobs including Manager’s position at KFC
- Hired as an English teacher at a local university, and made $12/month
- Gather 17 friends in his apartment, asking them to invest in Alibaba
- Yahoo invested $1 billion in Alibaba (2005)
- Resigned as CEO (2013)
Three Success Lessons From Jack Ma
You now know everything about Jack Ma’s networth and how he became successful. Here are three success lessons that we can all learn from Jack Ma.
1. Rejection is a sign of weakness.
If you were the only one to be turned down by KFC among 24 applicants, it would be a sign of discouragement. Disappointed from trying again, discouraged to achieve success in life.
Jack Ma didn’t see it that way. He continued to try again and again. He understood that it takes many falls before you can finally get on your feet.
2. Don’t let people get you down
It’s terrible to be told that you are not good enough. This didn’t phase Ma. He continued to live his life and looked for new opportunities. This eventually led to him finding the internet and eventually found Alibaba.
He may not have found the chance that led to his success if he had not been subjected to rejection and received the opinions of others.
3. To improve your knowledge, go to extreme lengths
Ma’s commitment to learning English as a child has been an invaluable skill in his later years. His ability to fulfill his Alibaba vision later in life was greatly affected by the lengths he went to learn English.
This work ethic was crucial to Alibaba’s success. He put the same effort into learning the internet as he did English.
Favorite Quotes From Jack Ma
Nowadays, it is simple to make money. However, it is difficult to make money that lasts while also being responsible for society and helping the world.
Help young people. Help the small guys. Because small guys can be big. Your seeds will become the seeds of the future.
It doesn’t really matter if you fail. I at least passed the idea on to others. Even if it doesn’t work out, someone will.