Jack Ma helped to bridge the gap between Chinese manufacturers and overseas customers. Given that China exports a huge percentage of the world’s goods, the Jack Ma net worth is incredibly high.
China leads the way in manufacturing. The East Asian nation exports more than $2.2 trillion worth of goods each year. They produce 60% of the world’s shoes, 70% of the world’s mobile phones and more than 90% of all personal computers.
However, while waves of hopeful business moguls jumped on the bandwagon, one man decided to focus on simplifying the exportation process, rather than joining the crowds of people that were hoping to make their millions selling cheap car parts and mobile phone cases.
Jack Ma is the founder of Alibaba, a B2B product listing website. His creation helps to connect China’s army of product makers with overseas customers.
Jack Ma net worth: China’s internet king
Alipay, Taobao, Tmall, Weibo and Youku Tudou. It’s unlikely that those words mean much to you, but in China they are equivalent to Paypal, eBay, Amazon, Twitter and Youtube.
They are all owned, at least partially, by Jack Ma. However, his best asset is Alibaba.
Started in 1999, the e-commerce website was an overnight success, which cost Ma and his small team of 18 employees many sleepless nights.
However, it was worth it in the end. It has since grown into China’s biggest online retailer and now employs more than 25,000 people. Likewise, Ma has found a way to monetise his creation further. He has since moved Alibaba away from its B2B origins and now lets companies sell directly to consumers.
As a result, Ma’s creation now produces an annual income of more than 150 billion Chinese Yuan, which is approximately $23 billion. Likewise, having gone public on the stock exchange, Alibaba Group is now worth $377.3 billion.
Helping to connect Chinese’s booming industry with the rest of the world came with its perks for Ma, who has earned a vast fortune as a result of his online empire.
At the moment, the Jack Ma net worth stands at $34.1 billion. However, with Alibaba growing across the board, his personal wealth is likely to continue rising.