8 Middle School as he kept getting caught in fights. When Ma was 13 years old, he was forced to transfer to Hangzhou No. He became pen pals with one of those foreigners, who nicknamed him "Jack" because he found it hard to pronounce his Chinese name. For nine years, Ma rode 27 km (17 miles) on his bicycle every day to work as a tour guide of Hangzhou for foreigners in order to practice his English.
At the age of 12, Ma bought a pocket radio and began listening to English radio stations frequently. Ma's grandfather served as a security guard during the Second Sino-Japanese War. He became interested in English as a young boy and began practicing with English speakers in the Hangzhou International Hotel. Ma was born in Hangzhou, Zhejiang on Septemas Ma Yun.
In April 2021, Jack Ma ranked 26th in the "2021 Forbes Global Rich List" with a fortune of $48.4 billion USD. In 2019, Forbes Magazine named Ma in its list of "Asia's 2019 Heroes of Philanthropy" for his humanitarian and philanthropic work supporting underprivileged communities in China, Africa, Australia, and the Middle East. 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. 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. 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 2017, Ma was ranked second in the annual "World's 50 Greatest Leaders" list by Fortune. The company was initially founded as B2B e-commerce marketplace website, yet the company later expanded into a wide range of industry domains across the Chinese economy, including e-commerce, high-technology, and online payment solutions. 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. Later taking an interest in the emergence of the internet business, 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. He became an English lecturer and international trade lecturer at Hangzhou Dianzi University following graduation. īorn in Hangzhou, Zhejiang, Ma earned a Bachelor of Arts degree with a major in English upon graduating from Hangzhou Normal University in 1988. As of June 2023, with a net worth of $34.5 billion, Ma is the fourth-wealthiest person in China (after Zhong Shanshan, Zhang Yiming and Ma Huateng), as well as the 39th wealthiest person in the world, ranked by Bloomberg Billionaires Index. In addition, Ma is also the co-founder of Yunfeng Capital, a Chinese private equity firm. He is the co-founder of Alibaba Group, a multinational technology conglomerate. Jack Ma Yun ( Chinese: 马云 pinyin: Mǎ Yún born 10 September 1964) is a Chinese business magnate, investor and philanthropist.
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