Jack Ma, the founder of the Alibaba holding company is retiring

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Jack Ma, a man compared to Steve Jobs and Jeff Bezos, exactly on his 55th birthday, ceases to be the head of Alibaba. By the way, September 10, it's been 20 years since Alibaba started operations. The management of the holding is taken over by Daniel Zhang.

Jack Ma retires early. The date, September 10, was chosen not by accident. It is also the birthday of the founder of Alibaba and also the 20th anniversary of the company. The end of Alibaba's chairmanship doesn't mean that Jack Ma will retire. From now on he will be a "lifetime partner" in Alibaba, as well as a member of a 36-member committee that has the right to elect the group's management board. This means nothing less than that, it will still have a lot to say.

Who is Jack Ma?

Jack Ma, which is really Ma Yun was born in 1964 in a not very wealthy Chinese family. Childhood and youth coincided with the Cultural Revolution in China. Because he grew up in an area popular among tourists, including western tourists, he quickly understood the importance of knowing English. Jack Ma himself later admitted in interviews that he was not the most urgent student. He didn't get to study three times. He dreamed of Harvard, but his application was refused ten times through the university. So he graduated from English Philology at the Teachers Institute in Hangzhou, after which he became a teacher. The salary was 120 yuan a month, or about $ 15.

When China began to open up to the world, Jack Ma opened an intermediary company between Chinese entrepreneurs and Western contractors. During a visit to the US in 1995, the future man of the year for Forbes discovered the internet. He mentioned that he was surprised to discover that after entering "beer" in the search engine, he did not find any Chinese product. After returning, he founded the "Chinese Yellow Pages", which is the first Internet company in the Middle Kingdom and an intermediary between entrepreneurs. The search engine was successful. In three years, Jack Ma made about 800,000 dollars. He did not enjoy this long, however, because the authorities offered him an irrefutable offer and asked him to lead the state-owned China International Electronic Commerce Center, which still exists today. Jack became its head of department, but in 1999 he returned to his hometown and made another attempt to set up his own business.

In 1999, Jack Ma returned to his hometown and having 2,000 dollars. of capital, together with his wife and friends, decided to set up a sales platform. The name was supposed to sound good in every language. Hence Alibaba. The domain has already been taken, but the Canadian investor has invested 10 thousand. dollars to buy it back. This is how the history of one of the largest Chinese companies listed on the American stock exchange began. However, AliPay, a payment system that has enabled online payments to millions of Chinese without payment cards, owes real success. The easy-to-use application associated with leading Chinese banks has become a real vein of gold for Jacek Ma. AliPay controls 50% of the Chinese Internet transaction market and has 800 million users. In the background of every story about a Chinese millionaire, there is also a mention of his belonging to the Communist Party of China and a suggestion that without this he would not have achieved such success. At the same time, Jack Ma repeatedly emphasized that he considered the work 12 hours a day 6 days a week a blessing.

Privately, Jack Ma seems to be a modest man with a lot of distance to his own wealth and person. During the Clinton Global Initiative conference, he stated that the most joyful time in his life was when he was an English teacher and earned pennies.

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