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Who is Jack Ma

Jack Ma

About Jack Ma

Who is Jack Ma

Jack Ma is the co-founder of Alibaba Group, which started as an e-commerce company and has now transcended into a multinational tech conglomerate. Formerly an English teacher, Ma founded in 1999 with 17 co-founders in a small apartment in Hangzhou city of eastern China. However, this was not his first foray into the world of business. 
After he graduated from Hangzhou Normal University with English, in 1994, Ma founded his first company, the Haibo Translation Agency which provided English translation and interpretation. While he applied for admission to the Harvard Business School multiple times, he was rejected every time.
While was a business-to-business online marketplace, Ma launched Taobao in 2003, which was a consumer-to-consumer e-commerce website.
From its humble beginnings, Alibaba group has gone on to become the most valuable company in Asia, with over 100,000 employees and has diversified into financial services, artificial intelligence, cloud computing, and even entertainment. 
In September 2019, on his 55th birthday, Ma stepped down as Alibaba chairman and handed over the reins of the company to his hand-picked successor Daniel Zhang. Ma continues to be on the board of the company. 
However, in the past one year, Jack Ma has cut his stake in Alibaba Group to 4.8 per cent from 6.4 per cent and cashed out nearly $9.6 billion. 
In September 2014, the Alibaba IPO on New York Stock Exchanged set a record as the world's biggest public stock offering, raising $25 billion. According to Forbes, Ma's current net worth stands at $ 48.1 billion. 
The Jack Ma Foundation and Alibaba Foundation have donated millions of PPEs, masks and other medical supplies to the US, Europe, and Africa to deal with the coronavirus pandemic.  

Latest Updates on Jack Ma

Emerging from seclusion, Jack Ma voices support for overhaul at Alibaba

Ma, who's still revered by many of the company's 200,000-plus employees, struck a markedly more upbeat tone than just four months ago

Updated On : 10 Apr 2024 | 10:37 PM IST

Alibaba approves additional $25 bn share buyback as revenue disappoints

Alibaba is looking to sell off some of its non-core holdings, including several retail operations, he said

Updated On : 08 Feb 2024 | 1:20 PM IST

Alibaba Group gains as Jack Ma, Tsai reportedly buy $200 million in stock

Ma and Alibaba Chairman Joe Tsai have both being buying up shares in recent months as the stock plunged, the newspaper reported Tuesday, citing unidentified people familiar with the matter

Updated On : 23 Jan 2024 | 9:34 PM IST

Jack Ma calls for fundamental changes in Alibaba, urges course correction

Ma, who has mostly stayed away from day-to-day operations since 2020, stunned employees Wednesday by replying to a staff post on Alibaba's internal forum

Updated On : 29 Nov 2023 | 11:30 PM IST

Alibaba founder Jack Ma gets back into business with 'Ma's Kitchen Food'

Ma, whose comments about China's outmoded financial system helped trigger the crackdown, has since largely devoted his time to agricultural pursuits though his foundation

Updated On : 27 Nov 2023 | 11:07 PM IST

Jack Ma reverses plan to trim stake after Alibaba share tumble: Report

Ma has not sold a single share in Alibaba, as the stock price has not reached the level the billionaire was seeking

Updated On : 23 Nov 2023 | 12:11 AM IST

Jack Ma's wealth drops $4.1 bn as Ant's valuation slashed: Report

The 58-year-old tycoon has a 9.9% stake that's now estimated to be worth $4.1 billion less than almost a year ago

Updated On : 11 Jul 2023 | 11:16 PM IST

Jack Ma's clash with China costs Alibaba Group Holding, Ant $850 billion

Chinese authorities said on Friday they would wrap up a probe into Ant with the financial technology company paying a fine of almost $1 billion

Updated On : 09 Jul 2023 | 11:02 PM IST

Jack Ma-backed Ant to buy back shares at 70% lower valuation than at IPO

The limited partners also committed to retaining the two dividends in 2022 with Hangzhou Junhan and Hangzhou Junao to enhance the operation's capital strength

Updated On : 08 Jul 2023 | 8:57 AM IST

China to end Ant Group's regulatory revamp with fine of $1.1 bn: Report

The People's Bank of China (PBOC), which has been driving the revamp at Ant after its $37 billion IPO was scuttled in late 2020, is expected to disclose the fine in the coming days

Updated On : 07 Jul 2023 | 12:57 PM IST

Chinese billionaire Jack Ma in Nepal, likely to meet Prachanda

Jack Ma, who landed in Kathmandu on a special flight via Dhaka in Bangladesh, has business connections in Nepal, the report said

Updated On : 27 Jun 2023 | 11:44 PM IST

Alibaba CEO Eddie Wu: Little-known coder to continue Jack Ma's legacy

The appointment of Eddie Wu Yongming to replace the affable Daniel Zhang surprised insiders, even though the 48-year-old computer scientist has been with Ma from Alibaba's humblest beginnings

Updated On : 27 Jun 2023 | 8:06 AM IST

Daniel Zhang to step down as Alibaba CEO, Eddie Wu Yongming to succeed him

Daniel Zhang to focus on Alibaba Cloud Intelligence Group as chairman and CEO; change will take effect September 10

Updated On : 20 Jun 2023 | 1:24 PM IST

Alibaba names Joseph Tsai chairman, Eddie Wu CEO in a surprise shake-up

Zhang's shock departure comes after Alibaba announced a six-way restructuring to try and juice growth and create a family of standalone leaders in businesses from cloud computing and logistics

Updated On : 20 Jun 2023 | 10:51 AM IST

Alibaba Group co-founder Jack Ma turns up in Japan as college professor

Jack Ma is expected to conduct research, in sustainable agriculture and food production. He will also give seminars on entrepreneurship and innovation

Updated On : 01 May 2023 | 7:29 PM IST

Alibaba founder Jack Ma accepts a teaching position at Tokyo University

The appointment term for Ma finishes at the end of October 2023 but his contract may be extended on an annual basis

Updated On : 01 May 2023 | 1:20 PM IST

Alibaba's Jack Ma returns as China tries to allay private sector fears

During his visit, Ma discussed topics such as artificial intelligence-powered chatbot ChatGPT and also said he hoped to return to teaching one day, the Yungu School said on its official WeChat account

Updated On : 27 Mar 2023 | 9:46 PM IST

Alibaba's founder Jack Ma seen in China after long absence: Report

The Alibaba-owned newspaper said he had made a short stopover in Hong Kong, where he met friends and also briefly visited Art Basel, an international art fair

Updated On : 27 Mar 2023 | 5:45 PM IST

Jack Ma-backed Ant Group plans to pare stake in Vijay Shekhar's Paytm

The Chinese fintech giant has been discussing options to reduce its stake in One 97 Communications Ltd. after its share percentage increased passively due to share buybacks

Updated On : 25 Feb 2023 | 9:57 AM IST

Jack Ma to cede control of Ant Group following China's tech crackdown

The company will give 10 individuals, including the founder, management and staff, voting rights independently, effectively removing Ma's voting control of Ant, according to an announcement

Updated On : 07 Jan 2023 | 9:58 AM IST