The Legacy Of Jack MA. As a teacher, became the richest man in China

The Legacy Of Jack MA. As a teacher, became the richest man in China

The founder of Alibaba, will attend the economic forum in Vladivostok. Earlier it became known about his imminent departure from the post of Chairman of the company.


Founder of Alibaba Jack MA will visit East economic forum, which will be held in Vladivostok on September 11-13, reports TASS with reference to sources. “MA come, but in the business program of the forum will not participate. He has his own program,” — said the Agency interlocutor.

Informed sources, “Interfax” reported that China’s Alibaba, Group and Russian direct investment Fund, talks about the creation of a joint venture in the field of electronic Commerce. The signing of the Memorandum could take place just at the Eastern economic forum.

Meanwhile, Alibaba Group confirmed the rumors about the imminent departure of Jack MA as Chairman of the Board.

The founder of Chinese Internet giant, will leave the post exactly one year later, September 10.

In 1994 an English teacher in China if followed the advice, which Dmitry Medvedev a couple of years ago gave Russian teachers: “If you want to earn money, there are lots of wonderful places where you can do faster and better. The same business”. A young lecturer at a University in Hangzhou heard about the Internet, almost for the fun of it with the built-in small and, as he says, the “ugly” website about China, soon attracted 20 thousand dollars, founded China Pages — company creating websites for other companies — and for three years earned nearly a million dollars.

In 1999, her former teacher came up with a new idea — to create an online marketplace, initially in B2B, business to business. The name of this man Jack MA or MA Yun, the startup has borrowed the name from one enterprising Feller of the Arabian tales.

About the success Alibaba Group says CNN correspondent in Beijing Matt rivers:

“In 2015, Alibaba IPO 25 billion dollars was the largest in U.S. history. Ant Financial — FINTECH-daughter Alibaba has invested billions of dollars in companies around the world. Trading platform and mobile payment platform of Alibaba fundamentally changed the way make purchases hundreds of millions of Chinese.”

And all this time the charismatic Jack MA has been the face of the Chinese technological revolution. Many inspired by his story: on the Chinese Internet it was referred to as “Dad MA.”

However, critics Jack MA is also missing. At least in part the company’s success can be attributed to protectionism and support of the Chinese authorities, and the business model of Alibaba was almost completely copied from Amazon. Besides, in his youth Jack MA special successes did not differ. In an interview with Bloomberg, he said, as trying to get 30 different companies and even the police, but he always refused. When the city opened the first KFC, the interview came 24 people, 23 of them were accepted, one was Jack MA.

In the end he almost had to become a businessman — nothing more he was not good. About his approach to life, the founder of Alibaba regularly talks in public speeches:

“My philosophy of business is that today is hard, tomorrow will be much harder, but day after tomorrow will be just fine. Although most will die tomorrow night. [audience laughing] But you need to work, need to cooperate, you need to believe in the future. You need to make an impossible mission was successful not only in the movies. Need in real life to make a mission possible”.