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The rise and fall of Jack Ma Peak net worth : Cause : Chinese government $61.7 billion dollars Current net worth : $48 billion dollars Jack Ma - once China’s & Asia’s richest man, got in crosshairs with the Chinese government. Imbued with success, the Chinese commerce magnate made controversial speech just before his Ant group’s IPO.
Who is Jack Ma ? Born in 1964 in Hangzhou to musician story tellers, Ma Yun, later known as Jack Ma always stood out from the others. In a country, where English was frowned upon, Jack Ma aspired to learn it and used to ride his bicycle for 40 minutes to reach outside Hangzhou hotel, now known as Shangri-La to interact with foreign tourists. He used to be their guide, on condition that in return they teach him English. He did that for 9 years. After failing to clear the university entrance exam twice, he was finally admitted to Hangzhou Teacher’s Institute, now known as Hangzhou Normal University. He applied for over 30 jobs and got rejected, including KFC which he proudly says, that 24 people applied for the job and 23 got selected. I was the only on rejected. Finally settling in for a school English-teaching job, he worked for 5 years while starting a translation company as side business with friends.
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