{"id":3954,"date":"2018-09-08T14:23:50","date_gmt":"2018-09-08T08:53:50","guid":{"rendered":"https:\/\/www.oyspa.com\/blog\/?p=3954"},"modified":"2018-09-08T14:26:16","modified_gmt":"2018-09-08T08:56:16","slug":"retirement-alibaba-co-founder-jack-ma-announces-retirement-54","status":"publish","type":"post","link":"https:\/\/www.oyspa.com\/blog\/news\/retirement-alibaba-co-founder-jack-ma-announces-retirement-54\/","title":{"rendered":"Retirement : Alibaba co-founder Jack Ma announces Retirement at 54"},"content":{"rendered":"

Ma was an English teacher before starting Alibaba in 1999 and built it into a multibillion-dollar internet colossus, becoming one of the world\u2019s richest men and a revered figure in his homeland.<\/h2>\n

Alibaba co-founder and chief Jack Ma announced he will leave from the Chinese e-commerce giant Monday to devote his time to philanthropy focused on education.<\/p>\n

Ma was an English teacher before starting Alibaba in 1999 and built it into a multibillion-dollar internet colossus.<\/p>\n

His own worth has soared along with that of the company, which was valued at $420.8 billion based on its share price at the close of trading on Friday.<\/p>\n

Ma told The New York Times that he plans to step down from the company, referring to his retirement as “the beginning of an era” rather than an end.<\/p>\n

After being knocked back by US venture capitalists in 1999, cash-strapped Chinese entrepreneur Ma persuaded friends to give him $60,000 to start an e-commerce firm called Alibaba.<\/p>\n

As he prepares to leave the company, Ma is among China’s super rich. His net worth was estimated at $36.6 billion by Forbes.<\/p>\n

Ma will turn 54 years old on Monday, the day he is retiring.<\/p>\n

He gave up his university teaching job after discovering the internet.<\/p>\n

Seeing an opportunity for small businesses to buy and sell their goods online, he started Alibaba, initially running the company out of his apartment in the eastern city of Hangzhou.<\/p>\n

“The first time I used the internet, I touched on the keyboard and I find ‘well, this is something I believe, it is something that is going to change the world and change China,'” Ma once told CNN.<\/p>\n

Ma has inspired strong devotion among his employees and users, drawing comparisons with late Apple co-founder Steve Jobs — although he practiced a more open management style.<\/p>\n

A devotee of tai chi, he has made references to Chinese martial arts in both business strategy and corporate culture.<\/p>\n

Porter Erisman, a former Alibaba employee who made a documentary about the firm, “Crocodile in the Yangtze,” said: “What Silicon Valley is known for, he embodies a lot of that with Chinese characteristics — that spirit of openness, risk-taking, innovation.”<\/p>\n

Ma graduated from the Hangzhou Teachers College with a major in English-language education, and went on to teach at another university in the city, where Alibaba is still headquartered.<\/p>\n

Chinese state media have burnished his rags-to-riches story, saying his parents were poorly educated and his father depended on a monthly retirement allowance of just $40 to support the family.<\/p>\n

 <\/p>\n

\u00a0\"\"<\/a><\/h2>\n

THIS IS BEST QUOTES BY JACK MA<\/h2>\n

On not giving up: “Today is cruel. Tomorrow is crueler. And the day after tomorrow is beautiful.”<\/h4>\n

On people: “Hire the person best suited to the job, not the most talented. This can be a very painful lesson. There\u2019s no point putting in a Boeing jet engine when you need to run a tractor.”<\/h4>\n

On competition: “You should learn from your competitor but never copy. Copy, and you die.”<\/h4>\n

<\/h4>\n","protected":false},"excerpt":{"rendered":"

Ma was an English teacher before starting Alibaba in 1999 and built it into a multibillion-dollar internet colossus, becoming one […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[],"class_list":["post-3954","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/paZdga-11M","jetpack-related-posts":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/posts\/3954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/comments?post=3954"}],"version-history":[{"count":2,"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/posts\/3954\/revisions"}],"predecessor-version":[{"id":3958,"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/posts\/3954\/revisions\/3958"}],"wp:attachment":[{"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/media?parent=3954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/categories?post=3954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oyspa.com\/blog\/wp-json\/wp\/v2\/tags?post=3954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}