Jack Ma is a big name in the E-commerce industry. He is the founder of one of the biggest E-Commerce portal – Alibaba and is also known as a stakeholder of Alipay- a portal for Digital payments. A few years back, even Jack Ma himself couldn’t imagine that one day he’s going to become the Richest Man in China. He has a net worth of around $25 billion today.
Jack Ma acquires a 7.8% stake in Alibaba and a 50% stake in Alipay. His founding company, Alibaba has a major customer base in China and is slowly gaining popularity in the rest of the world as well. Today, the business of Alibaba is so huge that it surpasses worldwide famous e-commerce giants such as Amazon and E-bay in its annual sales.
The life of Jack Ma seems to be wonderful but this billionaire man didn’t come here so easy. Coming from a humble background, Jack Ma struggled badly in his life before achieving greatness today. His story is something that will inspire you both in your good times and darkest times.
Jack Ma was born in the town of Hangzhou, the southeastern area of China. He grew up with an elder brother and a younger sister and his parents were professionally old storytellers and musicians. They worked hard to make their ends meet. He grew up in the days of rising of Communist China and its separation from the Western regions.
Starting from his childhood to his adulthood, Jack Ma faced a lot of failures and rejections. He failed several times in his school exams and entrance exams. He finally graduated as a Bachelor in English and after facing several rejections, he started a job as an English Teacher and was paid $12 a month for it.
In an interview, Jack revealed “when KFC arrived in China, 24 people went there to get a job. Out of these 23 were selected and I was the only one who wasn’t.” Again, he was the only one rejected for a job in police force out of the total number of applicants for it.
Jack Ma also failed in two of his initial start-ups. But this man had a lot of patience in him and this is why even after suffering a lot, he didn’t give up. After this, he went to the US in 1995 for a Government project. In the US, Jack Ma used computer and Internet for the first time. During those days, computers were not so popular in China because of the high expenditure incurred on them and the Internet didn’t even exist. He realized that China had no presence on the Internet and decided to bring it on.
He somehow convinced 17 of his friends to invest and become partners in his E-commerce start-up called Alibaba. Initially, Alibaba didn’t manage to find any investors from outside but gradually they managed to take up loans from banks. Jack Ma’s most difficult task was to generate trust among Chinese people that the online delivery of products and an online payment system can be safe.
Though Jack Ma never sold anything to anyone in his life but with his determination, he succeeded and now he runs the biggest E-Commerce network of the world. Alibaba grew rapidly and expanded worldwide. It became extremely popular in other countries besides China. Alibaba acquired the title of an E-commerce giant, something that no one could even think of during its humble beginning.
This story gives a clear message that Never Give Up!!! No matter how hard your life is, just Give Yourself Time and Stay Hopeful Always.