Jack Ma

Jack Ma
Born	Ma Yun 10 9, 1964
Birthplace	Hangzhou, Zhejiang, China
Nationality	Chinese
Occupation	Businessman, philanthropist
Known for	Co-founder of Alibaba Group
Education	Hangzhou Normal University (BA)
Spouse(s)	Zhang Ying
Children	2
Awards	Time 100 (2014)

Jack Ma (Template:Zh; born Ma Yun, 10 September 1964) is a Chinese businessman and philanthropist who co-founded Alibaba Group, one of the world's largest e-commerce and technology conglomerates. Born in Hangzhou, Zhejiang, Ma overcame repeated academic setbacks and job rejections before finding his path to entrepreneurship through the early internet era of the 1990s. He initially worked as an English lecturer at Hangzhou Dianzi University before founding several internet ventures, culminating in the establishment of Alibaba in 1999 as a business-to-business marketplace connecting Chinese manufacturers with overseas buyers. Under his leadership, Alibaba expanded into consumer e-commerce, cloud computing, digital payments, and entertainment, eventually listing on the New York Stock Exchange in 2014 in what was then the world's largest initial public offering. Ma stepped down as executive chairman of Alibaba Group in 2019 and shifted his focus to philanthropy through the Jack Ma Foundation and educational initiatives. His public profile diminished significantly after Chinese regulators halted the anticipated IPO of his digital payments company, Ant Group, in late 2020, following his public criticism of China's financial regulatory approach. By 2025, Ma had re-emerged in the public sphere, particularly around Alibaba's push into artificial intelligence.

Early Life

Ma Yun was born on 10 September 1964 in Hangzhou, the capital of Zhejiang province in eastern China. He grew up during a period of significant political and economic upheaval in China, and his family was of modest means. As a young person, Ma developed an early interest in the English language, reportedly practicing his skills by offering free tours to foreign visitors at Hangzhou's West Lake area in order to engage in conversation and improve his fluency.

Ma's academic career was marked by repeated struggles. He failed the gaokao, China's national college entrance examination, three times before finally earning a score sufficient for university admission. His difficulties extended beyond academia into the job market. Ma later recounted being rejected from numerous positions in his early career, including a rejection from Kentucky Fried Chicken when the fast-food chain opened a location in Hangzhou. Of 24 applicants for the KFC job, 23 were hired — Ma was the sole reject. He also applied unsuccessfully to the police force and, by his own account, was rejected by Harvard University ten times.

Despite these setbacks, Ma persisted. He eventually gained admission to Hangzhou Normal University, where he studied English. His time at the university shaped both his linguistic abilities and his worldview, exposing him to international ideas and contacts that would prove instrumental in his later business career.

Education

Ma earned a bachelor's degree in English from Hangzhou Normal University in 1988. Following graduation, he was assigned a position as an English and international trade lecturer at Hangzhou Dianzi University, a common practice under China's job allocation system at the time. His university education provided him with fluency in English that distinguished him among Chinese entrepreneurs of his generation and later facilitated his role as a prominent international spokesperson for Chinese business. Ma taught at the university for several years before leaving to pursue entrepreneurial ventures full-time in the mid-1990s.

Career

Early Ventures and the Internet (1994–1998)

Ma's entrepreneurial journey began in 1994 when he founded his first business, Hangzhou Hope Translation Agency, a translation service catering to businesses in the Hangzhou area. His introduction to the internet reportedly came during a trip to the United States in 1995, where he first encountered the World Wide Web. Recognizing the commercial potential of the internet, Ma created a website for his translation agency — one of the earliest Chinese-language websites — and soon resigned from his university teaching position to establish Hangzhou Hope Computer Services Co., Ltd.

This company operated an online yellow pages service for Chinese businesses, making it one of China's earliest internet startups. The service aimed to connect Chinese companies with international buyers by listing their information online. In 1996, Ma's company was acquired by China Telecommunications Corporation (China Telecom). However, the collaboration proved unsatisfactory for Ma, and he departed the company in 1997.

Following his exit from the China Telecom venture, Ma went on to develop websites for China's Ministry of Foreign Trade and Economic Cooperation (MOFTEC), gaining further experience in the intersection of technology and commerce that would define his career.

Founding of Alibaba Group (1999)

In 1999, Ma co-founded Alibaba Group in his Hangzhou apartment with a group of 17 friends and associates. The company was initially conceived as a business-to-business (B2B) e-commerce marketplace designed to connect small and medium-sized Chinese manufacturers and exporters with international buyers. The name "Alibaba" was chosen for its international recognizability and the association with the phrase "Open Sesame" from the folk tale, symbolizing the opening of opportunities for small businesses.

Ma has spoken publicly about the early obstacles the company faced, including difficulty securing funding and skepticism from investors about the viability of e-commerce in China at the time. Despite these challenges, Alibaba attracted early investment from Goldman Sachs and, in 2000, a significant investment from the Japanese technology firm SoftBank, led by Masayoshi Son.

Alibaba grew rapidly through the early 2000s, expanding beyond its B2B roots. The company launched Taobao, a consumer-to-consumer marketplace, in 2003 to compete with eBay in China. Taobao offered free listings to sellers, a strategy that undercut eBay's fee-based model and ultimately drove the American company out of the Chinese market. The company subsequently launched Tmall, a business-to-consumer platform for established brands, and Alipay, a digital payment service that became central to China's fintech revolution. Alipay was later restructured and renamed Ant Financial (subsequently Ant Group).

Alibaba's Growth and IPO

Under Ma's leadership as chairman and chief executive officer, Alibaba Group grew into one of the world's most valuable technology companies. The company's ecosystem expanded to encompass cloud computing (Alibaba Cloud), logistics (Cainiao), digital entertainment, and local services, in addition to its core e-commerce platforms.

On 19 September 2014, Alibaba Group conducted its initial public offering on the New York Stock Exchange under the ticker symbol BABA. The IPO raised approximately US$25 billion, making it the largest IPO in history at that time. The listing transformed Ma into one of the wealthiest individuals in China and brought international attention to both Alibaba and the broader Chinese technology sector.

Ma served as a prominent international representative of Chinese business during this period. In January 2017, he met with then-U.S. President-elect Donald Trump to discuss Alibaba's expansion plans in the United States, with the company outlining ambitions to create one million American jobs over a five-year period by enabling small U.S. businesses to sell to Chinese consumers through its platforms.

The Alipay Restructuring Controversy

One of the more contentious episodes in Ma's business career involved the restructuring of Alipay. In 2011, it emerged that Ma had transferred ownership of Alipay from Alibaba Group to a company he personally controlled, citing the need to comply with Chinese regulatory requirements for payment licenses. The move generated significant controversy, particularly among Alibaba's foreign shareholders, including Yahoo and SoftBank, who had not given prior approval for the transfer. Alibaba Group issued a clarification stating that the restructuring was undertaken to ensure Alipay could obtain the necessary licenses from China's central bank. Yahoo and Alibaba subsequently reached an agreement to resolve the dispute in July 2011, with Alibaba Group receiving compensation from Ant Financial in the event of a future IPO or other liquidity event.

Retirement from Alibaba

In September 2018, Ma announced his intention to step down as executive chairman of Alibaba Group, with the transition taking effect on 10 September 2019 — his 55th birthday and the 20th anniversary of Alibaba's founding. The timing of his retirement was noted by analysts as being strategically designed to minimize disruption to the company, with Ma ceding the chairmanship to Daniel Zhang (Zhang Yong), who had served as CEO since 2015. Ma stated that he intended to focus on philanthropy and education following his departure from the company.

Ant Group IPO Halt and Diminished Public Profile (2020–2024)

In October 2020, Ma delivered a speech at the Bund Summit in Shanghai in which he criticized China's financial regulators for what he characterized as an excessive focus on risk control at the expense of innovation. He compared Chinese banks to "pawnshops" and suggested that the existing regulatory framework was stifling the development of financial technology.

The speech was followed swiftly by regulatory action. In November 2020, Chinese regulators halted the highly anticipated dual IPO of Ant Group — which had been expected to raise over US$37 billion and would have been the largest public offering in history — just days before the shares were set to begin trading in Shanghai and Hong Kong. Ant Group was subsequently subjected to a comprehensive regulatory overhaul, forced to restructure its operations, and required to obtain a financial holding company license.

Ma largely disappeared from public view following the Ant Group IPO halt. His absence from public events and social media fueled widespread speculation about his whereabouts and status. The episode was interpreted by many observers as a demonstration of the Chinese government's willingness to rein in the country's most powerful technology entrepreneurs. An investigation by the International Consortium of Investigative Journalists documented how the case involving Ma illustrated the ways in which China could leverage institutions such as Interpol for political purposes.

Return to Public Life (2025)

By 2025, Ma had begun to re-emerge in the public sphere. In September 2025, Bloomberg reported that Ma was "back and making bold bets" at Alibaba, particularly in the field of artificial intelligence. Reports indicated that Ma had re-emerged at the center of Alibaba's strategic direction as the company intensified its push into AI technology.

Ma also returned to public commentary on education policy, urging changes to China's education system in light of the advances in artificial intelligence. In remarks reported by the South China Morning Post, Ma argued that Chinese educators should teach students to "ask thousands of good questions" rather than focusing on producing identical correct answers, contending that the AI era demanded a fundamentally different approach to learning.

Personal Life

Ma is married to Zhang Ying, whom he met while they were both students at Hangzhou Normal University. The couple has two children — a son and a daughter.

Ma has been noted for his charismatic personality and unconventional behavior for a corporate executive. He has performed musical numbers and dance routines at Alibaba's annual company events, including a performance featuring Michael Jackson-inspired dance moves at Alibaba's 18th birthday celebration in September 2017 before an audience of approximately 40,000 employees. He also made a surprise appearance at a music festival in 2017.

Outside of business, Ma has pursued interests in wine and property. He purchased Château de Sours in France, and in a separate transaction acquired Château Perenne, a Bordeaux estate.

Ma has also been involved in financial technology ventures in Asia beyond Ant Group. In 2017, he partnered with Hong Kong business magnate Li Ka-shing to bring digital wallet services to Hong Kong.

Recognition

Ma has received numerous accolades and distinctions throughout his career. In 2014, he was named to the Time 100, Time magazine's annual list of the 100 most influential people in the world. He has also been featured in BusinessWeek's annual lists of notable business figures and recognized by Forbes for his philanthropic contributions.

Ma served as a member of the board of directors of The Nature Conservancy (TNC), one of the world's largest environmental organizations, in connection with the organization's work in China.

He is the founder of the Jack Ma Foundation, which has focused on education, entrepreneurship, and environmental initiatives. His philanthropic work has included support for rural education in China and various environmental causes. Following his retirement from Alibaba, Ma stated that education and philanthropy would be the primary focus of his post-corporate career.

Legacy

Jack Ma's legacy is closely intertwined with the rise of China's digital economy. As co-founder of Alibaba Group, he played a central role in building the infrastructure for e-commerce in China, transforming how hundreds of millions of Chinese consumers and businesses conduct transactions. Alibaba's platforms — including Taobao, Tmall, and Alipay — became foundational elements of China's internet economy, while Alibaba Cloud emerged as a major player in the global cloud computing market.

Ma's career trajectory — from an English teacher who struggled with standardized tests to the head of one of the world's most valuable companies — has made him a prominent figure in narratives about entrepreneurship in China and globally. His fluency in English and comfortable rapport with international audiences made him an unusually visible Chinese business leader on the global stage, serving as a de facto ambassador for China's private sector during a period of rapid economic growth.

However, Ma's legacy is also shaped by the events of 2020 and their aftermath. The halting of the Ant Group IPO and Ma's subsequent retreat from public life marked a turning point not only for his personal career but for the broader relationship between China's government and its technology sector. The episode signaled to domestic and international observers that even the most prominent Chinese entrepreneurs operated within limits set by the state.

Ma's re-emergence in 2025, particularly around Alibaba's AI strategy, suggests an evolving relationship with both the company he founded and the regulatory environment in which it operates. His recent public statements on education reform in the AI era indicate a continued interest in shaping China's approach to technology and human development beyond the confines of corporate leadership.