Jack Ma, the renowned founder of Alibaba Group Holding, has recently launched a brand new company that specialises in prepackaged food. The company, inaugurated in China this Wednesday, boasts an initial capitalisation of 10 million yuan (US$1.39 million), according to Nikkei Asia.
Mukesh Ambani is currently the richest Asian with a massive net worth of more than Rs 8,15,515 crore. However the billionaire teacher we are talking about was once richer than Mukesh Ambani and Gautam Adani.
Jack Ma s Journey so far .
Fascinated by the English language, Jack Ma (or Ma Yun) learned it by himself at the age of 12. He worked as a tour guide for English-speaking visitors and eventually went on to work as an English teacher
This fascination helped him with his first business. In 1994, he started a company which provided English translation and interpretation services
Ma realised the potential of the Internet after being introduced to the technology during a visit to the United States
In 1995, he found an internet-based company called China Pages. It was one of the first internet ventures in China and helped small businesses create their own websites
Jack Ma s first public appearance in months helps Alibaba’s valuation soar $58 billion
Ma’s last public appearance before this was in October 2020, when he criticised China s regulatory system and state-run banks.
File image: Jack Ma
Jack Ma s video message to a group of teachers, his first public appearance in months, led to a $58-billion relief for Alibaba s investors.
To put this in perspective, this is around 2 percent of the total market capitalisation of Indian companies listed on the BSE on January 20. January 20,2021, closing market capitalization of all BSE listed equities Rs 197,70,572 crore. At Rs 73.03 per USD, Indian market capitalization topped USD 2.7 trillion first time ever, BSE CEO Ashish Chauhan said in a tweet.