|
Getting your Trinity Audio player ready...
|
Alibaba founder Ma Yun has revealed that “Jack” is not his real name, sharing an endearing story of how he adopted the moniker that would become synonymous with Chinese entrepreneurship.
During an interview with Charlie Rose at the World Economic Forum in Davos, Ma explained that his English name came from an unlikely source, a tourist he befriended while learning English as a teenager.
“The name was given by a lady tourist. She came to Hangzhou, and we became pen friends. She said my Chinese name was so difficult to pronounce, so she asked if I had an English name. I said no. She said, ‘My father is called Jack, my husband is called Jack, what do you think about Jack?’ I said Good, so I’ve been using that for many years,” the Chinese tycoon recalled.
This simple exchange would mark the beginning of Ma’s journey toward becoming one of the world’s most recognizable business leaders, though the path would be far from smooth.
Today, nearly three decades later, that name has become synonymous with Chinese e-commerce innovation and entrepreneurial success.
KDF announces nationwide recruitment of officers: How to apply
How many times did Jack Ma fail before success?
Ma’s story reads like a masterclass in persistence through adversity. Born in Hangzhou in 1964, during China’s Cultural Revolution, he faced rejection from an early age.
His grandfather was considered a “bad guy” after Liberation due to being a small landlord, setting a challenging backdrop for Ma’s childhood.
Which big companies and jobs rejected Jack Ma early on?
The rejections began early and were relentless.
“I failed the key primary school test twice, and I failed two or three times for middle school,” Ma shared, adding that he then failed university entrance examinations three times before finally gaining admission.
But academic struggles were just the beginning. After graduation, Ma applied for 30 different jobs and was rejected by every single one, an experience many job applicants relate to today.
“I went to the police, they said no, you’re not good. I went to KFC when it came to China. Twenty-four people applied for jobs, and 23 were accepted. I was the only one rejected,” he humorously recounted.
Even Harvard University turned him down, not once, but ten times.
“I told myself that someday I should go teach there,” Ma continued.
The internet awakening
Ma’s first encounter with the internet in 1995 during a trip to Seattle proved transformative. At a small office in a building called USA Bank, a friend introduced him to the concept of online search. His first search was for “beer”, a word he says he chose simply because it was easy to spell.
“I saw beers from Germany, beers from the USA, beers from Japan, but there was no beer from China,” he remembered as the listeners burst into laughter..
When he searched for “China,” the results showed “no data, nothing.” This moment sparked an idea that would eventually revolutionize Chinese commerce.
Alibaba offices. Photo by Ban Daisy on Unsplash
How did Alibaba grow without government funding?
Returning to China, Ma recognized that e-commerce’s biggest challenge would be trust.
“People don’t trust each other. How can you do business online unless you have trust?” he observed.
His solution was revolutionary for its time, an escrow system called Alipay. Despite warnings from lawyers that launching a payment system without proper licenses could land him in prison, Ma made the decision after attending a leadership panel at Davos.
“I listened to a leadership discussion, and leadership is about responsibility. I called my colleagues and said, ‘Do it now immediately. If something goes wrong, if somebody has to go to prison, Jack will go to prison, because it is so important for China and the world to build a trust system,'” he narrated.
Today, millions of people use Alipay, validating what many initially called “the stupidest idea you have ever had.” The payment platform has become one of the world’s largest mobile payment systems, processing billions of transactions annually.
The philosophy of persistence
Throughout his journey, Ma drew inspiration from unlikely sources, including the movie “Forrest Gump.”
“Simple, never give up. People think he’s dumb, but he knows what he’s doing. I was very depressed when I couldn’t find a way for the internet, and I watched Forrest Gump. I think this is the guy we should learn from – believe what you’re doing, love it, whether people like it or don’t like it, be simple,” Ma explained.
Ma also practices Tai Chi, which he credits with shaping his business philosophy.
“Tai Chi is about balance. In competition, people say When I compete with eBay, ‘Do you hate eBay?’ No, I don’t hate eBay, it’s a great company. Business is not a battlefield where you die or I win. Even if you die, I don’t win. Business is about fun,” he remarked.
What is Jack Ma’s estimated net worth in 2025?
As of 2025, Jack Ma remains one of China’s wealthiest individuals with an estimated net worth ranging from $24.6 billion according to Forbes to $36 billion according to Bloomberg. As of September 2025, Forbes estimated his net worth at $31B and ranked him at number 67 globally. While he no longer ranks among the world’s top 10 richest people, his influence on global e-commerce and digital payments remains undeniable.
Ma officially stepped down from his executive roles at Alibaba in 2019 and has since focused on philanthropy and education initiatives through the Jack Ma Foundation. Bloomberg reported in September 2025 that Jack Ma was reportedly back on Alibaba’s campuses and more directly involved in the company.
His story continues to inspire entrepreneurs worldwide, particularly in emerging markets where his journey from English teacher to tech billionaire resonates strongly.
What can entrepreneurs learn from Jack Ma?
Jack Ma’s story offers profound lessons for anyone facing rejection or pursuing seemingly impossible dreams. His journey demonstrates that failure isn’t the end but rather preparation and even better redirection for success. The key insights from his experience include the importance of persistence, the power of learning from rejection, and the value of maintaining optimism even in the darkest moments.
Perhaps most importantly, Ma’s story shows that success often comes not from avoiding failure, but from embracing it as a teacher and continuing to move forward regardless of how many times the world and even our closest people might tell us “no.”
