Jack Ma was born in a China under a communist regime, in a family with many shortcomings, but he managed to become one of the richest and most influential people in the world.
He failed the exam at a Chinese university twice and he was rejected by Harvard for 10 times.
When he finally got a diploma he was also rejected by KFC. In the most incredible way, at age of 40, Jack Ma became a billionaire.
He is Jack Ma, the founder of Alibaba, the largest e-commercing website in the world.
Jack Ma or Ma Yun (his real name) was born on October 15, 1964, in Hangzhou, a city in southeastern China in a family with three children.
He spent his childhood years in a period when Communist China was almost completely isolated from the West.
The first major change in his life took place in the 70s, after the visit of US President Richard Nixon. This official event turned Ma’s hometown into a touristic destination.
Ma Yun took advantage of the opportunity to go to the local hotels to offer his guide services in exchange for English lessons.
Ma started to be called “Jack” after he became friends with an American tourist.
“Jack” grew up and realized that the only chance to thrive in communist China and to become a man able to support ha family was to finish college. He failed the university exam twice and that forced him to change his priorities.
Ultimately, Ma joined the Pedagogical Institute and earned English with a teacher, who helped a lot.
After he was refused by Harvard and other elite colleges, he applied for more than 30 jobs, including a position in a KFC restaurant. Out of 24 candidates, he was the only one rejected.
He was also refused by the police so he decided to become an English teacher with a monthly salary of $12.
Yun Ma’s life has changed in 1995 when he first arrived in the United States. After visiting a friend in Seattle, Jack made his ‘first acquaintance’ with a computer and an internet service.
Jack’s first internet search was ‘beer’. The entrepreneur was extremely disappointed to see that the results from China were ‘0’.
After the return to his homeland, he decided to create a website called “China Pages”.
The idea was a total fail, but four years later he had another idea. Jack started to invest in a product called ‘Alibaba’, an e-commerce. He even persuaded 17 friends to invest money.
In the first three years, Alibaba was not very profitable, so Ma decided to change something.
“They told me that is the most stupid idea, but I didn’t care that it is stupid as long as people will use it”, stated Ma.
Years later, in 2005, Yahoo risked and invested a billion dollars in Alibaba in exchange for 40% of shares. It was the moment that Alibaba took over the Chinese market and began his true ascent.
The apogee was reached in 2014 when, after listing on the New York Stock Exchange, Yahoo stake, bought $1 billion.
At that time, Alibaba was already worth $150 billion dollars and Jack Ma’s fortune amounted to $22.4 billion.