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Posted : admin On 1/10/2022
Born10 September 1964 (age 57)
Hangzhou, Zhejiang, China
EducationHangzhou Normal University (BA)
Known forCo-founder and former executive chairman of Alibaba Group
TitleCo-founder of Yunfeng Capital
Political partyCommunist Party of China[1]
Spouse(s)Zhang Ying
Chinese name
Simplified Chinese马云
Traditional Chinese馬雲
Standard Mandarin
Hanyu PinyinMǎ Yún
Wade–GilesMa3 Yün2
IPA[mà y̌n]
SuzhouneseMô Yúin
Yue: Cantonese
Yale RomanizationMáah Wàhn
JyutpingMaa5 Wan4
IPA[ma̬ː wɐ̏n]
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Jack Ma Yun[a] (Chinese: 马云; pinyin: mǎ yún; born 10 September 1964) 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, he co-founded Yunfeng Capital, a private equity firm. Ma is a strong proponent of an open and market-driven economy.

In August 2014, according to the Bloomberg Billionaires Index, Jack Ma had a net worth of US$21.8 billion, making him the richest man in China.[3] In 2017, Ma was ranked second in the annual 'World's 50 Greatest Leaders' list by Fortune.[4] He has widely been considered as an informal global ambassador for Chinese business, and is an influential figure for the community of startup businesses.[5] In September 2018, he announced that he would retire from Alibaba and pursue educational work, philanthropy, and environmental causes;[6][7][8][9] the following year, Daniel Zhang succeeded him as executive chairman.[10]

As of October 2021, with a net worth of $42.3 billion, Ma is the fourth-wealthiest person in China (after Zhong Shanshan, Ma Huateng and Zhang Yiming), as well as one of the wealthiest people in the world, ranked 32nd by Bloomberg Billionaires Index.[2] In 2019, Forbes named Ma in its list of 'Asia's 2019 Heroes of Philanthropy' for his work supporting underprivileged communities in China, Africa, Australia, and the Middle East.[6][11] In April 2021, Jack Ma ranked 26th in the '2021 Forbes Global Rich List' with a fortune of US$48.4 billion.[12]

Early life and education[edit]

Jack Ma was born in Hangzhou, Zhejiang, China. He began studying English at a young age by conversing with English-speakers at Hangzhou International Hotel. For nine years, Ma would ride 27 km (17 miles) on his bicycle to give tourists tours of the area to practice his English. He became pen pals with one of those foreigners, who nicknamed him 'Jack' because he found it hard to pronounce his Chinese name.[13]

Later in his youth, Ma struggled attending college. Ma failed the entrance exam for the Hangzhou Teachers College twice as his weak point was mathematics.[14] The Chinese entrance exams, held annually, took Ma three years to pass. Ma attended Hangzhou Teacher's Institute (currently known as Hangzhou Normal University) and graduated in 1988 with a Bachelor of Arts in English.[15][16] While at school, Ma was head of the student council.[17] After graduation, he became a lecturer in English and international trade at Hangzhou Dianzi University. He also claims to have applied ten times to Harvard Business School and got rejected each time.[18]

Business career[edit]

Jack Ma on the future of online trade and globalization at the World Economic Forum 2017

Early career[edit]

According to Ma's autobiographical speech,[19] after graduating from Hangzhou Normal University in 1988, Ma applied for 31 different odd jobs and was rejected by every one. 'I went for a job with the KFC; they said, 'you're no good'', Ma told interviewer Charlie Rose. 'I even went to KFC when it came to my city. Twenty-four people went for the job. Twenty-three were accepted. I was the only guy [rejected]...'.[20] During this period, China was in its first decade of Deng Xiaoping's Chinese economic reform.

In 1994, Ma heard about the Internet and also started his first company,[21] Hangzhou Haibo Translation Agency (杭州海波翻譯社). In early 1995, he went to the US on behalf of the municipal government with colleagues who had helped introduce him to the Internet.[21] Although he found information related to beer from many countries, he was surprised to find none from China. He also tried to search for general information about China and again was surprised to find none. So he and his friend created an 'ugly' website related to China.[22] He launched the website at 9:40 AM, and by 12:30 PM he had received emails from some Chinese investors wishing to know about him. This was when Ma realized that the Internet had something great to offer. In April 1995, Ma and He Yibing (a computer teacher) opened the first office for China Pages, and Ma started their second company. On 10 May 1995, they registered the domain in the United States. Within three years, the company had made 5,000,000 Renminbi which at the time was equivalent to US$800,000.

Ma began building websites for Chinese companies with the help of friends in the US. He said that 'The day we got connected to the Web, I invited friends and TV people over to my house', and on a very slow dial-up connection, 'we waited three and a half hours and got half a page', he recalled. 'We drank, watched TV and played cards, waiting. But I was so proud. I proved the Internet existed'.[23] At a conference in 2010, Ma revealed that he has never actually written a line of code nor made one sale to a customer. He acquired a computer for the first time at the age of 33.[24]

From 1998 to 1999, Ma headed an information technology company established by the China International Electronic Commerce Center, a department of the Ministry of Foreign Trade and Economic Cooperation. In 1999, he quit and returned to Hangzhou with his team to found Alibaba, a China-based business-to-business marketplace site in his apartment with a group of 18 friends.[25] He started a new round of venture development with 500,000 yuan.

Jack Ma at 2007 China Trust Global Leaders Forum

In October 1999 and January 2000, Alibaba won a total of a $25 million foreign venture capital investment from Goldman Sachs and Softbank.[21] The program was expected to improve the domestic e-commerce market and perfect an e-commerce platform for Chinese enterprises, especially small and medium-sized enterprises (SMEs), to address World Trade Organization (WTO) challenges. Alibaba became profitable three years later. Ma wanted to improve the global e-commerce system and from 2003 he founded Taobao Marketplace, Alipay, Ali Mama and Lynx. After the rapid rise of Taobao, eBay offered to purchase the company. However, Ma rejected their offer, instead gathering support from Yahoo co-founder Jerry Yang with a $1 billion investment.

Alibaba IPO[edit]

In September 2014 it was reported Alibaba was raising over $25 billion in an initial public offering (IPO) on the New York Stock Exchange.[26] Alibaba became one of the most valuable technology companies in the world after raising the full $25 billion, the largest initial public offering in US financial history.

Chair of Alibaba Group[edit]

Ma served as executive chairman of Alibaba Group, which is a holding company with nine major subsidiaries:, Taobao Marketplace, Tmall, eTao, Alibaba Cloud Computing, Juhuasuan,,, and Alipay. In November 2012, Alibaba's online transaction volume exceeded one trillion yuan. Ma stepped down as the chief executive officer of Alibaba on 10 May 2013 but remained as the executive chairman of the corporation. As of 2016, Ma is the owner of Château de Sours in Bordeaux, Chateau Guerry in Côtes de Bourg and Château Perenne in Blaye, Côtes de Bordeaux.[27]

On 9 January 2017, Ma met with United States President-elect Donald Trump at Trump Tower, to discuss the potential of 1 million job openings in the following five years through Alibaba's business interests in the United States of America.[28] On 8 September 2017, to celebrate Alibaba's 18th year of establishment, Ma appeared on stage and gave a Michael-Jackson-inspired performance. He performed part of 'Can You Feel The Love Tonight' at the 2009 Alibaba birthday event while dressed as a heavy metal lead singer.[29] In the same month, Ma also partnered with Sir Li Ka-shing in a joint venture to offer a digital wallet service in Hong Kong.[30]

Ma announced on 10 September 2018 that he would step down as executive chairman of Alibaba Group Holding in the coming year.[31] Ma denied reports that he was forced to step aside by the Chinese government[32] and stated that he wants to focus on philanthropy through his foundation.[33]Daniel Zhang would then lead Alibaba as the current executive chairman.[34]

Ma officially stepped down from the board of Alibaba on 1 October 2020.[35]

Disappearance from the public eye[edit]

News outlets noted a lack of public appearances from Ma between October 2020 and January 2021, coinciding with a regulatory crackdown on his businesses.[36] The Financial Times reported that the disappearance may have been connected to a speech given at the annual People's Bank of China financial markets forum,[37] in which Ma criticized China's regulators and banks.[37] In November 2020, the Financial Times reported the abrupt cancellation of the Ant Group's anticipated[38]initial public offering (IPO)[39] after an intervention by financial regulators. According to Chinese bankers and officials, financial stability was the objective behind the intervention.[37] Some commentators speculated that Ma may have been a victim of forced disappearance,[40][41][42][43] while others speculated that he could be voluntarily lying low.[40][44] Ma made a public appearance again on 20 January 2021, speaking via video link to a group of rural teachers at a charitable event, the annual Rural Teacher Initiative.[36][45] In February 2021, Bloomberg reported that he was seen golfing at the Sun Valley Golf Resort in the Chinese island of Hainan.[46]

Entertainment career[edit]

In 2017, Ma made his acting debut with his first kung fu short film Gong Shou Dao. It was filmed in collaboration with the Double 11 Shopping CarnivalSingles' Day. In the same year, he also participated in a singing festival and performed dances during Alibaba's 18th-anniversary party.[47][48][49]

In November 2020, in the finale of Africa’s Business Heroes, Ma was replaced as a judge in the television show, with Alibaba executive Peng Lei taking his place, reportedly 'Due to a schedule conflict'.[50]

Awards and honors[edit]

  • In 2004, Ma was honored as one of the 'Top 10 Economic Personalities of the Year' by China Central Television (CCTV).[51]
  • In September 2005, the World Economic Forum selected Ma as a 'Young Global Leader'.[51]
  • Fortune also selected him as one of the '25 Most Powerful Businesspeople in Asia' in 2005.[51]
  • Businessweek also selected him as a 'Businessperson of the Year' in 2007.[52]
  • In 2008, Barron's featured him as one of the 30 'World's Best CEOs'[53]
  • In May 2009, Time magazine listed Ma as one of the world's 100 most powerful people. In reporting Ma's accomplishments, Adi Ignatius, former Time senior editor and editor-in-chief of the Harvard Business Review, noted that 'the Chinese Internet entrepreneur is soft-spoken and elf-like—and he speaks really good English' and remarked that ', Mr. Ma's consumer-auction website, conquered eBay in China.'[54] He was also included in this list in 2014.[55]
  • BusinessWeek chose him as one of China's Most Powerful People.[56]
  • Forbes China also selected him as one of the Top 10 Most Respected Entrepreneurs in China by in 2009. Ma received the 2009 CCTV Economic Person of the Year: Business Leaders of the Decade Award.
  • In 2010, Ma was selected by Forbes Asia as one of Asia's Heroes of Philanthropy for his contribution to disaster relief and poverty.[57]
  • In 2011, it was announced that one of his companies had gained control of Alipay, formerly a subsidiary of Alibaba Group, so as to 'comply with Chinese law governing payment companies in order to secure a license to continue operating Alipay.[58]
  • Numerous analysts reported that Ma sold Alipay to himself below market value without notifying the board of Alibaba Group or the other major owners Yahoo and Softbank, while Ma stated that Alibaba Group's board of directors were aware of the transaction. The ownership dispute was resolved by Alibaba Group, Yahoo! and Softbank in July 2011.[59]
  • Ma was awarded an honorary doctoral degree by the Hong Kong University of Science and Technology in November 2013.[60]
  • Ma was a board member of Japan's SoftBank (2007–2020)[61] and China's Huayi Brothers Media Corporation.[citation needed] He became a trustee of The Nature Conservancy's China program in 2009 and joined its global board of directors in April 2010.
  • In 2013, he became chairman of the board for The Nature Conservancy's China Program; this was one day after he stepped down from Alibaba as company CEO.[62][63]
  • In 2014, he was ranked as the 30th-most-powerful person in the world in an annual ranking published by Forbes.[64]
  • In 2015, Asian Award honoured him with the Entrepreneur of the Year award.[65]
  • In 2017, Fortune ranked Ma second on its World's 50 Greatest Leaders list.[66]
  • In 2017, a KPMG survey ranked Ma third in global tech innovation visionary survey.[67]
  • In October 2017, Ma was given an honorary degree of Doctor of Science in Technopreneurship from De La Salle University Manila, Philippines.[68]
  • In May 2018, Ma was given an honorary degree of Doctor of Social Sciences by the University of Hong Kong in recognition of his contributions to technology, society and the world.[69]
  • In May 2018, Ma received an honorary doctorate from professors Yaakov Frenkel and Yaron Oz at the Tel Aviv University.[70]
  • In May 2019, Ma and other 16 influential global figures were appointed by Secretary-General of the United Nations as the new advocates for sustainable development goals.[71]
  • In July 2020, Ma received from King Abdullah II a first class medal for his contribution in fighting back against the COVID-19 pandemic.[72]
  • In August 2020, Ma was to receive from the President of Pakistan a Hilal e Quaid e Azam medal for his contribution in fighting back against the COVID-19 pandemic.[73]


Ma is a follower of both Buddhism and Taoism.[74][75][76]

At the annual general meeting of shareholders for in May 2010, Ma announced Alibaba Group would begin in 2010 to earmark 0.3% of annual revenue to environmental protection, particularly on water- and air-quality improvement projects. Of the future of Alibaba, he has said, 'our challenge is to help more people to make healthy money, 'sustainable money', money that is not only good for themselves but also good for the society. That's the transformation we are aiming to make.'[77]

On 24 September 2014, in an interview with Taobao, Ma attributed the strength of American society to its Christian heritage, and expressed his belief in the importance for China to implement a positive value system, in order to overcome the legacy of the Cultural Revolution.[78]

In November 2018, the People's Daily identified Ma as a member of the Communist Party of China, something which surprised observers.[79][80][81]

Ma received international criticism after he publicly endorsed the Chinese work practice known as the 996 working hour system.[82]

When asked in 2019 to give his views on the future, Ma again stated that 996 was currently a 'huge blessing' necessary to achieve success, but went on to state that artificial intelligence technology might lead to a better life of leisure in the future, where people would only have to work four-hour work days, three days a week.[83][84] At the same time, Ma expressed skepticism that AI could ever completely replace people, referencing to his theory that success requires a 'love quotient' and stating that machines can never match this success. Ma also predicted that population collapse would become a big problem in the future.[85][86]


Jack Ma is the founder of the Jack Ma Foundation, a philanthropic organization focused on improving education, the environment and public health.[87]

In 2008, Alibaba donated $808,000 to victims of the Sichuan earthquake.[88] In 2009 Jack Ma became a trustee of The Nature Conservancy's China program, and in 2010 he joined the global Board of Directors of the organization.[89]

In 2015, Alibaba launched a nonprofit organization, Alibaba Hong Kong Young Entrepreneurs Foundation, which supports Hong Kong entrepreneurs to help them grow their businesses.[90][91] In the same year, the company funded the rebuilding of 1,000 houses damaged by the earthquake-hit in Nepal, and raised money for another 9,000.[92]In 2015 he also founded the Hupan School,[93] a business school.

In September 2018 Ma started the Jack Ma Foundation and announced that he would retire from Alibaba to pursue educational work, philanthropy, and environmental causes.[6][7][8][9]

In 2019, Forbes named Ma in its list of 'Asia's 2019 Heroes of Philanthropy' and awarded him the Malcolm S. Forbes Lifetime Achievement Award for his work supporting underprivileged communities in China, Africa, Australia, and the Middle East.[6][11]

In 2020, in response to the COVID-19 pandemic, the Alibaba Foundation and Jack Ma Foundation launched various initiatives, some of which involved donating medical supplies to the United States as well as various countries in Asia, Africa, and Europe.[94][95]

Family and personal life[edit]

Ma was born to a family of limited means. His parents were musicians and sometimes storytellers.[citation needed] At university he met Zhang Ying (Chinese: 张瑛), also known as Cathy Zhang, a fellow student, also from the Hangzhou area. They married shortly after graduation in 1988, and alongside working as a Chinese teacher, Zhang was active in the early development of Ma's businesses and became general manager of the main firm, until 2004. The couple have three children: a son, Ma Yuankun (also known as Jerry Ma), born in 1992, a daughter Ma Yuanbao, and one other.[96][97][98]

See also[edit]



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External links[edit]

Wikiquote has quotations related to: Jack Ma
Wikimedia Commons has media related to Jack Ma.
  • Leadership biographies at Alibaba Group
  • Appearances on C-SPAN
  • Jack Ma on Charlie Rose
  • Works by or about Jack Ma in libraries (WorldCat catalog)
  • Biography at The Nature Conservancy (Board of Directors)
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By hitting the e-commerce titan Alibaba with a record $2.8 billion antitrust fine on Saturday, Chinese officials sent a message to the country’s high-flying internet industry: We’ve got our eyes on you.

The penalty imposed on Alibaba, one of China’s most valuable private companies and the bedrock of the business empire of Jack Ma, its most famous tycoon, was the biggest move yet in the government’s campaign to tighten its supervision of Big Tech.

China’s market watchdog in December began investigating whether Alibaba had broken the country’s antimonopoly law by preventing merchants from selling their goods on other shopping platforms. On Saturday, the regulator said it had concluded that Alibaba’s exclusionary practices had hindered competition in online retail, affected innovation in the internet economy and harmed consumers’ interests.

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The resulting fine far exceeds the $975 million antitrust penalty that China imposed on Qualcomm, the American chip giant, in 2015.

The authorities left little doubt Saturday about their intention to keep reining in China’s internet behemoths. In a commentary that was published online a minute after the fine was announced, People’s Daily, the official Communist Party newspaper, called regulation “a kind of love and care.”

“Monopoly is the great enemy of the market economy,” the commentary read. “There is no contradiction between regulating under the law and supporting development. Rather, they complement each other and are mutually reinforcing.”

The fine is unlikely to make a substantial dent in Alibaba’s fortunes. The State Administration for Market Regulation, the agency that imposed the penalty, said the amount represented 4 percent of Alibaba’s domestic sales in 2019. The company reported profits of more than $12 billion in the last three months of 2020 alone.

Still, the run-in with regulators could have longer-lasting effects on Alibaba’s business, which has sprawled beyond shopping into logistics, grocery, entertainment, social media, travel booking and much else.

Like Facebook, Google and other internet giants, Alibaba has argued that the breadth of its business helps make each of its services more useful. But critics say the company’s size slants the playing field for competitors and restricts consumers’ choices.

Alibaba is now likely to be much more cautious about doing anything that resembles strong-arming users or rivals, said Angela Zhang, an associate professor and director of the Center for Chinese Law at the University of Hong Kong. “Their competitors will be first to run to the regulator to complain if there are problems,” she said.

Even so, Professor Zhang said, the fact that Beijing did not demand major additional concessions from Alibaba makes the antitrust authority’s decision “good news for the firm” over all.

Six years ago, when Qualcomm was fined, it also agreed to offer Chinese customers hefty discounts on patent royalties. On Saturday, the market regulator said only that Alibaba would have to curb its anticompetitive behavior and submit reports on its compliance for three years.

“I would think the market should react positively,” Professor Zhang said, though she cautioned that the government could always pursue investigations into other aspects of Alibaba’s business.

In a statement, Alibaba said it would accept the fine “with sincerity” and would strengthen internal systems “to better serve our responsibility to society.”

“The penalty issued today served to alert and catalyze companies like ours,” Alibaba said. “It reflects the regulators’ thoughtful and normative expectations toward our industry’s development.”

China started ramping up scrutiny of its tech giants last year. The market regulator proposed updating the antimonopoly law with new provisions for large internet platforms like Alibaba’s. In November, officials halted the plans of Alibaba’s sister company, the finance-focused Ant Group, to go public and tightened their oversight of internet finance.

In December, it opened the antimonopoly investigation into Alibaba — a startling turn for Mr. Ma, whom people in China had long held up as an icon of entrepreneurial pluck. In late October, shortly before Ant Group’s shares were expected to begin trading, Mr. Ma had spoken at a conference in Shanghai and accused Chinese financial regulators of stymieing innovation in the name of controlling risk. His remarks were not well received in the state-run news media.

Skepticism about the clout of large internet companies has been on the rise in the United States and Europe, too. Western regulators have repeatedlyfined Goliaths like Google for various antitrust violations. But in general, such penalties have not changed the nature of the companies’ businesses enough to mitigate concerns about their power.

China started later than the West on this front. In recent months, apart from the Alibaba investigation, the antitrust authority has also imposed smaller fines on companies for failing to report acquisition deals in advance.

Yet the government’s campaign is already starting to influence the way Chinese internet giants operate, a reflection of the extent to which all private companies in China must stay in Beijing’s good graces to survive.

For many years, Alibaba and its archrival, the gaming and social media giant Tencent, have competed ferociously in a variety of businesses, including by deterring their own users from spending time on the other company’s services. That may be starting to change. In a first for the company, Alibaba recently applied for two of its commerce platforms, Taobao Deals and Xianyu, to have a presence on WeChat, Tencent’s ubiquitous messaging app.

Tencent is an obvious potential target for future antimonopoly action by Beijing. With WeChat, the company has created and nurtured an all-in-one platform for news, entertainment, finance, shopping and more, giving it great leverage over rivals and smaller companies as an essential gatekeeper to Chinese internet users.

“As companies become large, and as internet services become more and more a part of people’s life, then companies need to be much more responsible, both to the users, to the government, to society,” Tencent’s president, Martin Lau, said last month on a conference call with analysts. “Now I think it’s important for us to understand even more about what the government is concerned about, what the society is concerned about, and be even more compliant.”

Chinese officials do not appear to wish to tip the scales too much against the internet companies, which have legions of loyal users and employ many young, highly educated people.

In November, not long after officials put Ant Group’s I.P.O. plans on ice, China’s market regulator published draft guidelines for antitrust enforcement of internet platforms. The final rules, which appeared in February, differed in a few key ways.

One provision in the draft lowered the bar for the authorities to argue, in certain cases, that a company was a monopolist. That provision did not make it into the final rules. Another clause in the draft that later disappeared would have made it easier for regulators to argue that companies that held large amounts of user data were abusing their dominance.

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The authorities also do not seem to want to tighten control over internet giants in a way that would undermine China in its strategic rivalry with other global powers — one in particular.

In high-tech industries, “competition between China and the United States is becoming more intense,” a former official with the market regulator, Li Qing, said in a January interview with a Beijing newspaper.


“We must give our nation’s innovative enterprises more space to develop, a better policy environment and more room to correct faults,” Ms. Li said. “We must encourage enterprises to keep innovating and to become big and strong.”


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