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Jack Ma

9 questions · Economics

Jack Ma, born in China in 1964, is the best-known entrepreneurial face of China. As a young man he was rejected countless times (even by KFC) and failed entrance exams. Yet he taught himself English and in 1999 founded the trading platform Alibaba, which became the Chinese Amazon. Ma rose to be the richest Chinese. In 2020 he vanished from public view for months after critical remarks about the Chinese authorities. Good to know: Alibaba became the „Amazon of China“. Its 2014 stock listing in New York was a record. Even at KFC he was the only one rejected. He failed the university entrance exam several times. As a boy he spoke with tourists for free to practise. Later he worked as an English teacher. From teacher he became the richest Chinese. His talent for speaking later helped him as a founder. Jack Ma founded Alibaba in 1999 in his home city: in his own flat. Hangzhou is the capital of Zhejiang province. A planned record stock listing was halted. The case showed the state’s power over China’s billionaires.

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Which large trading platform did Jack Ma found?

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Alibaba

Alibaba became the „Amazon of China“.

💡 Did you know? Its 2014 stock listing in New York was a record.

What did Jack Ma repeatedly experience as a young man?

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Rejections and failures

Even at KFC he was the only one rejected.

💡 Did you know? He failed the university entrance exam several times.

What did the young Jack Ma teach himself?

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English

As a boy he spoke with tourists for free to practise.

💡 Did you know? Later he worked as an English teacher.

Which profession did Ma hold before his entrepreneurial career?

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English teacher

From teacher he became the richest Chinese.

💡 Did you know? His talent for speaking later helped him as a founder.

In which city is Alibaba headquartered?

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Hangzhou

Jack Ma founded Alibaba in 1999 in his home city: in his own flat.

💡 Did you know? Hangzhou is the capital of Zhejiang province.

What happened in 2020 after Ma criticised China’s authorities?

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he vanished for months

A planned record stock listing was halted.

💡 Did you know? The case showed the state’s power over China’s billionaires.

Which payment service belongs to Ma’s business empire?

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Alipay

In China hundreds of millions pay with it by phone.

💡 Did you know? It made cash almost unnecessary in many places.

What does Jack Ma stand for to many young Chinese?

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for the self-made rise

His story made him an icon.

💡 Did you know? It is his many failures in particular that inspire.

Jack Ma

Foto: Foundations World Economic Forum · CC BY 2.0 · Wikimedia Commons

Which billionaire is shown here?

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Jack Ma

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