Founded by Alibaba founder Jack Ma on December 15, 2014, the Jack Ma Foundation (JMF) focuses on four areas: entrepreneurship, education, women’s leadership, medical support, and environmental protection. The foundation actively works to create a trustworthy, participatory, and sustainable non-profit organization.
Early Life of Jack Ma
Jack Ma, the founder of Alibaba Group, is from China. The remarkable success in the business world of English teacher Jack Ma is the result of his vision and tireless hard work. Jack Ma established the Alibaba Group in 1999 as a B2B e-commerce website to connect Chinese product makers with foreign customers. However, today, Alibaba.com is one of the biggest websites in e-commerce.
Jack Ma was born in Hangzhou, China, on 10 December 1964. His real name was Ma Yun. Jack Ma was very fond of learning English from a young age, and for practice, he would go to the Hangzhou Hotel daily, located a passable distance from his home. He used to guide English visitors to the city for free so that he could learn English from them. One of the visitors named him Jack, because his real name, Ma Yun, was difficult to pronounce.
Struggles in the Education and Career of Jack Ma
Jack Ma did this work for ten years and then tried to get college admission. The Chinese entrance exam is held once a year and Jack Ma took four years to pass. He was admitted to the Hangzhou Institute and completed his B.A. in English in 1988. After graduation, Jack Ma was appointed as a lecturer of International Trade and English at Hangzhou Dianzi University.
Despite his degree, Jack Ma applied for jobs at thirty different places but was rejected. In one famous fast-food chain, he was the only candidate out of 24 who was refused. Jack Ma even applied for a police job but was told he was “absolutely not suitable.”
Jack Ma and the Internet Revolution
Jack Ma is a self-made billionaire, but no one was ready to give him a job in his early days. He faced many failures, even attempting to enter Harvard University more than ten times, but was rejected each time.
In 1994, Jack Ma learned about the Internet. While trying to search for a word online, he was astonished at the vast amount of information available. This discovery inspired him to work on Internet-based businesses.
In 1995, Jack Ma, his wife, and a friend established their first company, China Yellow Pages, which built websites for companies. The company earned $800,000 within three years. This venture laid the groundwork for Alibaba.
Jack Ma as the Founder of Alibaba
In 1999, Jack Ma returned to Hangzhou with his team and laid the foundation of Alibaba. By September 2014, Alibaba’s IPO became one of the largest in history, trading in billions and ranking Alibaba among the top companies in the world. Today, Alibaba’s annual income is $134.6 billion.
Jack Ma briefly held the title of the richest person in China, with assets worth $24.5 billion. However, government restrictions on internet companies reduced his ranking. In 2021, he was the fifth richest person in China and the 67th richest in the world.
Jack Ma’s Failures and Philosophy
Jack Ma once said:
“Failures are part of life, we should have the habit of accepting failure because no one in the world is perfect.”
Despite facing rejection after rejection, Jack Ma used his failures as stepping stones. He believed in perseverance, resilience, and continuous learning.
Achievements and Recognition of Jack Ma
- 2004 – Named among the Top Ten Business Leaders by Chinese Central Television.
- 2005 – Chosen as a Young Global Leader by the World Economic Forum.
- 2007 – Listed among the Top 30 World’s Best CEOs by Barron’s.
- 2009 – Received CCTV Economic Person of the Year and Business Leaders of the Decade awards.
- 2010 – Named Hero of the Region by Forbes Asia.
- 2013 – Awarded Honorary Doctorate Degree by Hong Kong University of Science and Technology.
- 2014 – Featured among the Top 30 World Leaders by Forbes.
- 2015 – Received the Asian Award.
- 2017 – Ranked second on the list of 50 Great People in the World.
In 2019, Jack Ma retired as Executive Director of Alibaba, but retained lifetime membership in Alibaba’s Partnership (36-member board with power to nominate directors). He still owns 6.22% shares of Alibaba.
The Jack Ma Foundation
Jack Ma now focuses on his Jack Ma Foundation, modeled after the work of Bill Gates. The foundation emphasizes:
- Education development
- Women’s leadership
- Entrepreneurship
- Medical and health support
- Environmental sustainability
Through these efforts, Jack Ma is shaping future generations while continuing to play a role in Alibaba’s long-term planning.
The Secret of the Success of Jack Ma
Do you know that Jack Ma’s salary as an English teacher was only $12 per month? Today, he is the founder of one of the largest e-commerce companies in the world.
Jack Ma once shared at the World Economic Forum:
“In the beginning, I knew nothing about technology. In fact, you don’t need to know a lot of things. You have to find people who are smarter than you. When you find such people, give them an environment where they can work together.”
Jack Ma’s two-part success principle:
- Build a team of people smarter than you.
- Create an environment where intelligent people can work together.
❓ Frequently Asked Questions about Jack Ma
Q1: Who is Jack Ma?
Jack Ma, born Ma Yun on December 10, 1964, in Hangzhou, China, is the founder of Alibaba Group and the Jack Ma Foundation. He started as an English teacher before becoming one of the world’s most influential entrepreneurs.
Q2: What is the Jack Ma Foundation?
The Jack Ma Foundation, established in 2014, focuses on education, entrepreneurship, women’s leadership, medical support, and environmental sustainability. It works to create a positive impact in communities worldwide.
Q3: How did Jack Ma start Alibaba?
Jack Ma founded Alibaba in 1999 with a team of 18 people in Hangzhou, China. It began as a B2B e-commerce platform connecting Chinese manufacturers with global buyers and has since grown into one of the world’s largest e-commerce companies.
Q4: What challenges did Jack Ma face in life?
Jack Ma faced many rejections and failures. He was denied jobs more than 30 times, failed the Harvard entrance exam multiple times, and was even rejected by KFC. Despite these struggles, he never gave up and went on to build Alibaba.
Q5: What is Jack Ma’s secret to success?
Jack Ma believes success comes from teamwork and resilience. His principle is to hire people who are smarter than you and create an environment where they can work together effectively.