Jack Ma's Net-Worth and Influence (2024)

What is Jack Ma, founder and former executive chairman of Alibaba Group Holding Ltd. (BABA), worth? As of Jun. 21, 2023, Jack Ma's net worth is $34.1 billion as the 39th richest person in the world, according to an article from Bloomberg.

Much of Ma’s wealth is linked to Alibaba. He used to own the largest controlling interest in the company and its subsidiaries, though he has been divesting his shares over time. In July 2020, he sold another $8.2 billion worth of shares. According to the company's 13D filing in February 2022, he now ownes 3.9% of the business.

The firm's roots date back to 1995, when Ma and his wife started a site-creating company called China Yellow Pages. Less than five years later, Ma co-founded Alibaba with 17 friends in Hangzhou.

Alibaba’s holdings now include outright ownership and or important ownership stakes in a movie studio, venture capital funds, Yahoo! China, healthcare technology makers, Internet messaging and voice apps, supply chain management companies, taxi-hailing app services, video streaming sites, social media apps, and online clothing retailers.

Ma stepped down as Chairman of Alibaba on Sept. 10, 2019, on his 55th birthday, as part of a long-standing succession plan.

When a person makes Forbes’ The World’s Billionaires list, investors are naturally interested in what they're investing in.

Buffet-Style Investing

With a wide array of investments spread out over a number of different companies and sectors, Ma’s web of deals and diversification are often likened to that of Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK) fame. Ma is a prolific investor who is not shy of financing all stages of a venture, from seed funding to established company. Much of his investing has been done through Yunfeng Capital or various shell companies.

Ma established venture capital firm Yunfeng Capital with four associates in 2010. The five principals came to be known as the “Zhejiang Gang,” referring to the province where they were born. Yunfeng, invests in early-stage companies across a number of industries; almost all of of the companies are located in China. Yunfeng investment sectors include:

  • Healthcare (the fund, for example, put 200 million RMB into China Resources Wandong Medical Equipment Co. Ltd. [Shanghai: 600055.SS], a maker of medical devices),
  • Insurance ($1.7 billion worth of shares in China Taiping Insurance Holdings Company Limited [HKSE: 0966.HK])
  • Mass media
  • Clean energy
  • Consumer goods
  • Finance (with a 56% stake in REORIENT Group Limited (HKSE: 0376.HK), a mid-cap brokerage located in Hong Kong)
  • Technology
  • Internet products and services

Private Investments

Not all of Ma's funds are invested in public companies; a large portion of his wealth is invested privately, through various connections and holding companies. One such private equity fund is Star Capital, which invests in a variety of business sectors, including real estate, in China and across Europe. Star Capital is majority-controlled by Fosun International. A major part of Alibaba’s financial services businesses, including Alipay, is overseen by another holding company that is controlled by Ma and other investors.

In 2014, Jack Ma and several other investors put up $1 billion to purchase a 20% stake in Wasu Media, (Shenzhen: 000156.SZ). While this transaction may look fairly straightforward, a closer look at the way the deal was structured revealed a somewhat complex arrangement.

The Hangzhou Yunxi Investment Partnership Enterprise, which made the investment on behalf of its three partners, including Ma, is controlled by three separate entities. One of those, Hangzhou Yun Huang Investment Management, is 99% controlled by Ma, with the other 1% owned by Simon Xie. The $1 billion loan was made to Xie from Alibaba, and then invested into the Yunxi partnership for the purchase of the Wasu shares. Taking a very circuitous route, Ma was investing personally in Wasu, and his appetite for media.

Media, Sports, and Entertainment

The Huayi Brothers (Shenzhen: 300027.SZ) entertainment company, originally formed in 1994, is just one example of Ma's growing interest. Yunfeng, Chinese Internet giant Tencent Holdings Limited (OTC: TCTZF), and Huayi purchased controlling interests in it through an empty shell corporation called China Jiuhao Health Industry Corporation Limited (HKSE: 0419.HK).

In January 2019, Alibaba's Pictures Group (a subsidiary of Alibaba) extended a $1 million loan to Huayi Brothers. In return, Huayi pledged to produce 10 theatrical films over the next five years, giving Alibaba Pictures priority as a potential investor, distributor, and merchandiser.

In 2015, Yunfeng participated in an initial funding round of $129 million for Le TV Sports, a then-fledgling sports rights and streaming company, that went on to secure $1.2 billion in Series B funding in 2016.

Jack Ma's Causes

Ma is a charismatic, flamboyant, and energetic leader, and his influence in business and leadership has been recognized by various organizations. He was named one of the world’s most influential people by Time Magazine in 2009, Asia’s Heroes of Philanthropy in 2010 by Forbes Asia, and one of 30 world’s best CEOs by Barron’s in 2008.

His influence has transcended business into social causes, primarily environmental ones. Ma has been a board member of The Nature Conservancy in China since 2010. He has taken on the shark fishing industry, pledging to end the consumption of shark fin dishes, and working to bring about the end of trading fins and other shark-based products on Alibaba.

A small (but meaningful in absolute value) percentage of Alibaba’s profits are allocated to fund environmental causes.Ma has also begun sounding the alarm bells (albeit cautiously) on the environmental impact of China's fast-developing industrial economy. He is advocating for China to take steps to further diversify its economy and reduce its reliance on manufacturing.

Ma is an active advocate for women’s fair treatment and advancement in business. Within Alibaba, six of the eighteen founding partners are women,and five of the fourteen executive team members are women. He has asserted, adding proudly, "We have many women CEOs, CFOs, directors and so on."

He also aims to use his influence to encourage and advance fledging business owners. "For the rest of my life, I want to encourage entrepreneurship, to help more small and midsize enterprises," he has stated. He is also flirting with the idea of returning to his academic roots—he is a graduate of Hangzhou Teacher's Institute —someday. "I want to go back to school because I was trained to be a school teacher," says Ma. "I have been doing business for 15 years, and I think most of the things that I learned from the business school are not correct—I want to go back and share with others."

In 2023, he did return to academia, taking a role as a Visiting Professor at the University of Tokyo, researching sustainable agriculture and food production between May and October 2023.

Expanding Access to Capital Through Alibaba

Ma also suggests that various Alibaba ventures have a philanthropic bent. In 2016, he coined the term "TechFin" as a way to not only set the company's payment platform Alipay apart from its competitors, but to underscore the company's goal of providing young people, small companies, and poor nations access to capital.

He wants Alibaba, already the world's largest e-commerce platform, to also be the go-to financier for emerging markets. And the company's Alipay e-wallet service, which boasts more than 1.3 billion users, is going to serve as the backbone for Ma's payment platform expansion efforts.

Fintech takes the original financial system and improves its technology,” said Ma during a 2016 China Conference organized by the South China Morning Post (SCMP). “TechFin is to rebuild the system with technology. What we want to do is to solve the problem of a lack of inclusiveness.”

The South China Morning Post, a publication owned by Alibaba, quoted Ma as saying, "Everyone should have a bank account." To that end, Alibaba’s financial services affiliate Ant Financial Services Group (which manages Alipay) has begun to focus on emerging markets such as India, the Philippines, and Malaysia—areas that are considered underserved, compared to established markets like Europe and the United States.

Ant also runs Yu’E Bao, amoney market fund launched in 2013 that offers higher interest on savings and greater liquidity than many of China's traditional banks.

As for how Alipay and the concept of "TechFin" stands up against existing payment platforms, Ma described his ambition as being less about competition and more about solving a problem. “It’s not a business model competition... getting a business model is simple if you really solve a big problem and create value.”

An article from the South China Morning Post quoted him as saying. “In India, we have over 150 million users who can run mobile payments within 20 months. This [enabling the poor to have bank accounts] is something we feel proud of.”

However, his efforts have faced some headwinds. In 2020, the Indian government banned many Chinese apps, include Alipay Cashier and other apps from Alibaba.

What inspired Jack Ma to start Internet businesses?

Jack Ma's first encounter with the Internet came in 1995 when he visited the United States. He was inspired, and noted the lack of Chinese web sites. He identified this as a business opportunity and founded his first company China Pages, which helped build websites for Chinese businesses.

How many languages does Jack Ma speak?

Jack Ma is bilingual, speaking both Mandarin and English. He took an interest in English at the age of 12, practicing his English with foreign tourists while offering tours of Hangzhou. He also studied to become an English teacher.

What are Jack Ma's work habits?

Jack Ma encourages hard work over long hours. He is a proponent of "996," which means working from 9 AM to 9 PM 6 days a week.

The Bottom Line

Jack Ma is an entrepreneur and founder of one of the largest holding companies in the world and one of the 50 richest people on the planet. That gives him significant influence in his home country of China and abroad. His unique investing style can provide significant insight for investors looking to mimic his success.

Jack Ma's Net-Worth and Influence (2024)

FAQs

Jack Ma's Net-Worth and Influence? ›

In addition, Ma is also the co-founder of Yunfeng Capital, a Chinese private equity firm. As of February 2024, with a net worth of $30.1 billion, Ma is the sixth-wealthiest person in China, as well as the 50th wealthiest person in the world, ranked by Bloomberg Billionaires Index.

How is Jack Ma influential? ›

He started a translation business, which eventually led him to found Alibaba, one of the world's largest e-commerce companies. Today, Jack Ma is one of the richest men in China, with a net worth of over $50 billion. He is also a philanthropist, and has donated millions of dollars to education and environmental causes.

What are some interesting facts about Jack Ma? ›

At the World Economic Forum in 2016, Ma revealed he has been rejected from Harvard— 10 times. He graduated in 1988 and started applying to as many jobs as he could. He received more than a dozen rejections — including from KFC — before being hired as an English teacher at a university.

What happened to Jack Ma's wealth? ›

Jack Ma loses more than half of his wealth after criticizing Chinese regulators. Jack Ma's fortune is estimated to be worth less than half of what it was just three years ago, when he made a pivotal speech that derailed what was supposed to be the world's biggest share sale at the time.

How much was Jack Ma worth at his peak? ›

Chinese internet tycoon Jack Ma has seen his wealth plummet in the wake of his controversial comments about the Chinese government and a mysterious disappearance. Just three years ago, Ma was the richest person in Asia, having amassed a fortune that peaked at $61.7 billion.

What are Jack Ma's weaknesses? ›

  • 2.2 WEAKNESSS.
  • Among the weaknesses that Jack Ma has is that he is very weak in the subject of.
  • Mathematics. Such a thing happened when he failed the entrance examination to Hangzhou.
Dec 31, 2022

Why is Jack Ma a visionary leader? ›

Jack Ma's leadership style is rooted in his visionary thinking. He once stated, “Vision is more important than knowledge. I am a believer in big dreams and setting high goals.” His vision was to make it easy for anyone, anywhere in the world, to do business, and this vision guided Alibaba's growth.

What did Jack Ma invent? ›

In 1997, he was employed by the Ministry of Foreign Trade and Economic Operation, responsible for developing the official website and a webpage for Chinese commodities online trade. The following year he resigned from the public office, and founded Alibaba, the start of his second exploration in the business world.

What language does Jack Ma speak? ›

Jack Ma is bilingual, speaking both Mandarin and English.

What happened to Jack Ma when he went missing? ›

The iconic Alibaba founder disappeared from view after criticizing China's government. He returned to the country in March—as a teacher, not a businessman.

Is Alibaba still owned by Jack Ma? ›

Ma stepped down as CEO and chairman of the company years ago and retains no executive role anymore. He isn't even on the board of the company although he remains a major shareholder with a stake of 3.7 percent.

What does Jack Ma do today? ›

In May 2023, Tokyo College, a research institute at the University of Tokyo, announced that Ma had been appointed visiting professor and would work at the institute until at the earliest October 2023. His research focus would include sustainable agriculture, food production, and lectures on entrepreneurship.

Who is China's richest person? ›

Colin Huang, the founder of e-commerce giant PDD Holdings, has become the richest person in China with a net worth of $48.7 billion.

Who was the richest person in Boston? ›

Fidelity CEO Abigail Johnson remains the wealthiest person in Massachusetts, according to Forbes' most recent list of the world's billionaires, with a net worth of $29 billion. She is the 58th-richest person in the world, a jump from her 2023 ranking at 72nd.

What is the famous saying of Jack Ma? ›

Never give up. Today is hard, tomorrow will be worse, but the day after tomorrow will be sunshine.

Who is AliExpress's owner? ›

AliExpress is a business of Alibaba Group.

What is the moral lesson of Jack Ma? ›

Giving up is the greatest failure." Jack Ma's persistence is evident in his early struggles and his determination to succeed with Alibaba. He never gave up, even when faced with numerous obstacles and setbacks. This is a valuable lesson for anyone looking to achieve success in their personal or professional life.

How is Jack a powerful leader? ›

In Lord of the Flies, Jack displays his strength in leadership using power, charisma, and dominance to triumph over Ralph. Jack's display of power towards the boys proves his status as an effective leader. Jack shows confidence in his ability to thrive in the island, separating from the group of boys.

What are the sources of power for Jack Ma's leadership style? ›

Jack Ma's leadership is characteristic of three types of power; referent, expert, and legitimate. He is known for being a leader with a high moral standard, and his employees always abide by such principles, primarily out of the conviction that it is expected of them.

Why did Jack Ma become an entrepreneur? ›

From the start, Jack Ma showed entrepreneurial skills. In 1994, he used his experience as an English teacher to set up his first company, the Haibo Translation Agency. After first encountering the Internet on a trip to the US in 1995, he saw a gap in the market for Chinese websites.

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