Editor’s Note: This story has been updated to clarify that Eric Yuan got his visa in his ninth application.
A man whose visa application had been rejected eight times is now the billionaire behind the app that keeps workers in the U.S. connected in the face of the COVID-19 outbreak.
Before Judy Tong Wenhong became Alibaba’s “most inspiring partner,” she served as the company’s receptionist, then customer service representative, and finally, an inexperienced vice president who did not back down in facing tough challenges.
Tong was 30 years old when she joined the Chinese e-commerce hub in 2000.
A Chinese billionaire has sparked outrage for stating that women have caused “moral degradation” in China.
New Oriental Group founder and CEO Yu Minhong, or Michael Yu, made the controversial remark on stage during an education summit in Shanghai on Sunday.
Jack Ma is retiring early and science indicates he may be on to something.
Ma recently relinquished his ownership of “variable interest entities” in Alibaba, a step toward his announced succession plan that would gradually phase himself out of the tech giant he founded 19 years ago.
At 13, Jacki Ng was part of a local gang in Singapore, leading him through a life of petty crime and fighting, which later led to his expulsion from secondary school.
“I was always a child who was a bit different. I was neither conventional, nor rule-abiding,” Ng, who now heads a million dollar diving empire in Singapore, told the Vulcan Post. “I grew up in a dysfunctional family where illegal activities were by no means foreign to my family members.”
Parents in China are finding some creative ways to give their children a head start in life.
A school in Guangzhou is offering “CEO courses” where children as young as three can enroll in to learn how to be a CEO! Classes are two times per week and cost 50,000 yuan, roughly $7,500, per year, according to Shanghaiist (via CRI News).
Asian CEOs are the most confident in the world, according to the recent YPO Global Pulse survey.
Confidence in the Southeast Asian region rose to 60.5%, the highest since the first quarter of 2015. This was led by the weakening of the dollar and the stabilizing slowdown in the Chinese economy.
Businesses run by the highest-paid CEOs are some of the most underperforming companies, research firm MSCI said.
Their study saw little evidence linking large pay to long-term stock performance. More surprisingly, CEOs who are paid less were found to earn larger investment returns.
Yahoo’s CEO Marissa Mayer has recently been under fire for her decision to take a short maternity leave following the expected births of her twin daughters later this year.
The soon-to-be mother of three announced on Tumblr, which is owned by Yahoo, that she will be taking as little as two weeks of maternity leave and will be “working throughout” the duration of her time off, according to The Guardian. Mayer wrote on Tumblr:
The Securities and Exchange Commission has adopted a new protocol mandated by the Dodd-Frank financial law that will require large companies to disclose their median compensation level starting in 2018.
The law was established for the benefit of company shareholders as they will be presented with more information pertaining to how executives are paid. While this law will undoubtedly benefit shareholders it may also come with some unintended backlash.
The founder and CEO of Toms Shoes, Blake Mycoskie, told his company that he was going to take 12 weeks off after the birth of his son. Though many new fathers are hesitant about taking time off from their careers, Mycoskie could not imagine it any other way.
Mycoskie said his paternity leave would serve two purposes: to spend time learning the ropes of being a new father caring for his newborn baby and to set an example for his employees.
On Saturday, Shan Jiuliang, founder of Fanya Metals Exchange, was attempting to escape from a luxury hotel in Shanghai when he was grabbed by about 200 of of his company’s angry investors and taken to the police station, reports the Financial Times.
Fanya investors are upset because of a product called Ri Jin Bao, a financial product linked to minor metals such as indium and bismuth. Initially, it was sold under the premise that retail investors would garner annualized returns as high as 13.7% and would have the right to withdraw funds from the account at any time. However, Fanya froze the account in April after experiencing money problems, according to Xinhua.