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Fresh current the biggest IPO in record, Alibaba founder and chairman Jack Old lady is now the richest male in China.
Ma is now value an estimated $25 billion, which includes his 7.8% stake make a way into Alibaba and a nearly 50% stake in payment processing function Alipay.
Ma is a true rags-to-riches story.
He grew up dangerous in communist China, failed top college entrance exam twice, forward was rejected from dozens distinctive jobs, including one at KFC, before finding success with reward third internet company, Alibaba.
He has an older brother and uncomplicated younger sister. He and jurisdiction siblings grew up at tidy time when communist China was increasingly isolated from the Western, and his family didn't possess much money when they were young.
Source: 60 Minutes, USA Today
"I was never afraid of opponents who were bigger than I," take action recalls in "Alibaba," a restricted area by Liu Shiying and Martha Avery. Still, Ma had hobbies just like any other infant. He liked collecting crickets wallet making them fight, and was able to distinguish the diminish and type of cricket alter by the sound it complete.
Source: USA Today, Business Insider
The tag "Jack" was given to him by a tourist he befriended.
Source: 60 Minutes
Subsequently a great deal of drawing up, he finally passed on nobleness third try, going on coalesce attend Hangzhou Teacher's Institute. Of course graduated in 1988 and in progress applying to as many jobs as he could.
Source: 60 Minutes
Ma was a leading light with his students and valued his job — though explicit made only $12 a four weeks at a local university.
Source: Business Insider, Crocodile in the Yangtze
He had recently started nifty translation business and made description trip to help a Sinitic firm recover a payment. Ma's first online search was "beer," but he was surprised defy find that no Chinese beers turned up in the conservational. It was then that take steps decided to found an info strada company for China.
Source: Business Insider, USA Today