NextSharkNextShark.com

Jack Ma is Planning to Retire Early From Alibaba — Here’s What He’ll Do Next

Jack Ma is Planning to Retire Early From Alibaba — Here’s What He’ll Do Next

September 7, 2018
SHARE
Jack Ma, China’s richest man and one of the world’s top billionaires, is looking to get back into teaching students after his life as the chairman of multi-billion dollar company Alibaba Group Holding Ltd.
Screenshot via Bloomberg
While speaking with Bloomberg TV, the tech tycoon, who turns 54 on Monday, revealed that he is more confident in teaching than being the CEO of Alibaba.
There’s a lot of things I can learn from Bill Gates. I can never be as rich, but one thing I can do better is to retire earlier,” he said. “I think some day, and soon, I’ll go back to teaching. This is something I think I can do much better than being CEO of Alibaba.”
Ma used to teach English before becoming one of the world’s wealthiest man. According to Business Insider, the business tycoon used to make about $12 per month while teaching at a local university.
Born in September 1964 to Chinese traditional musician-storytellers living in Hangzhou, Zhejiang province, his venture into the business world began when he started a translation company.
In 1995, Ma visited the United States where he discovered the internet for the first time. He found that not a single Chinese page showed up in the search results after looking for beer online.
Ma decided to take matters into his own hands by setting up the directory website China Pages for Chinese companies looking for customers overseas. However, the plan flopped and the website was shut down.
Subscribe to
NextShark's Newsletter

A daily dose of Asian America's essential stories, in under 5 minutes.

Get our collection of Asian America's most essential stories to your inbox daily for free.

Unsure? Check out our Newsletter Archive.

In 1999, he finally opened the juggernaut company that is Alibaba.
via Wikimedia Commons / Thomas LOMBARD, designed by HASSELL (CC BY-SA 3.0)
Besides going back to teaching, Ma also passionately continues his philanthropy work.
When asked if he would retire anytime soon, the billionaire shrugged and smiled. He also didn’t reveal if he would give up his money which is now estimated at more than $40 billion or put it into trust. If you are also planning on retiring anytime soon, you might want to consider vising the CunninghamLegal homepage for more info about estate planning and trust management.
You’ll know very soon. I’ve prepared a Jack Ma Foundation,” he said. “All these things that I’ve been preparing for 10 years.”
Screenshot via Bloomberg
While many view Ma as one of the most successful entrepreneurs in the world, this was not always the case for the Chinese billionaire. He failed to pass China’s national university exam not just once but twice, which was probably the fuel he needed to focus more on education.
I was not considered a good student but I improved, we keep on learning all the time. So I want to devote most my time to this,” Ma said in the interview.
via Wikimedia Commons / Foundations World Economic Forum (CC BY 2.0)
Ma believes that philanthropy is the bridge that will connect the two largest economies in the world.
People in China and America, one thing we have in common is the heart of love and respect,” the billionaire said. “This is a common language we have. The first tech revolution caused WWI, the second caused WWII, now we are a third revolution, what’s gonna happen? It should be a war against poverty, disease et cetera.”
Ma is confident that everything will go well for Alibaba thanks to his team and the company’s partnership structure.
I have full confidence in my team and in the partner structure which lots of investors don’t like,” Ma said. “It’s the system which I think I have contributed to along with my team and this will be able to make the company last long.”
Featured Image via YouTube / World Economic Forum
MOST READ
    HAPPENING NOW
      Bryan Ke

      Bryan Ke is a Reporter for NextShark

      SHARE THIS ARTICLE:

      RELATED STORIES FROM NEXTSHARK

      Support
      NextShark's
      Journalism

      Many people might not know this, but NextShark is a small media startup that runs on no outside funding or loans, and with no paywalls or subscription fees, we rely on help from our community and readers like you.

      Everything you see today is built by Asians, for Asians to help amplify our voices globally and support each other. However, we still face many difficulties in our industry because of our commitment to accessible and informational Asian news coverage.

      We hope you consider making a contribution to NextShark so we can continue to provide you quality journalism that informs, educates, and inspires the Asian community. Even a $1 contribution goes a long way. Thank you for supporting NextShark and our community.

      © 2023 NextShark, Inc. All rights reserved.