Jack Ma is a rock star businessman who’s inspired millions of people all over the world.
You can learn a lot of lessons from the Chinese icon who launched and grew his Chinese company Alibaba into an online behemoth, both good and bad lessons.
In fact, Ma could teach fellow tech titans a masters class on“how to lose a fortune almost overnight.”
There’s multi-billionaires who’s net worth fluctuates due to their stock price reacting to market conditions, and then there’s the man made plunge off a pile of cash which Ma has just experienced, a plunge so steep, so drastic, that it’s almost hard to process.
For the past two years, Ma has claimed the top spot on the list of richest people in China. He was world famous, and seemed to relish that role and the status it brought.
But ever since he and his company came under heavy scrutiny from the Chinese government, Ma has plummeted down the list to become the fourth richest person in China, and No. 25 in the world.
He’s still worth $49.1 billion, right behind Nike founder Phil Knight at $51.1 billion, but it’s going to take some work to get the top spot in his native country back.
The top three spots in China now belong to bottled water maker Nongfu Spring’s Zhong Shanshan, Tencent Holding’s Pony Ma, and Pinduoduo’s Collin Huang.
Ma’s decline came after regulators in China halted the $37 billion IPO for Ma’s Ant Group, due to ant-trust concerns. On October 24, he made a speech which blasted the regulatory system in China.
It led to Ma stepping away from the spotlight altogether, with some wondering where he was until he reappeared in January, in a 50 second video clip.
Add comment