OUT OF 25 PEOPLE SEEKING A JOB, 24 WAS SELECTED, I WAS REJECTED”-CONFESSED A BILLIONAIRE

OUT OF 25 PEOPLE SEEKING A JOB, 24 WAS SELECTED, I WAS REJECTED”-CONFESSED A BILLIONAIRE
Jack Ma, a Chinese business man and investor, the co founder and former executive chairman of Alibaba Group a multinational technology conglomarate, has a less impressive educational and life history yet it is worth knowing.
Jack grew up in a poor family, he liked collecting crickets and make them fight as a kid, and was so serious about it that he could distinguish the size and type of cricket by the sound they made. In 1972 ( when he was 8 years old), Jack’s home town became a tourist Mecca, and he would wake up in the morning and visit the city’s main hotel, offering visitors tours of the city in exchange for English lessons.
He once explained how he failed a key primary school test two times, failed middle school test three times and failed the college entrance exam two times and passed at the third attempt and attended Hangzhou Teachers Institute and graduated in 1988. He went further at Davos in 2015 to say that after he graduated, he was rejected for most of the jobs he applied for out of college. Most notably, he applied for a job at KFC in his hometown at Hangahou, and was the only who was rejected out of 25 applicants. He went further to explain that he applied 10 times to Harvard Business School, but was rejected every time he applied. He later got a job as an English teacher in a local university and was paid $12 a month. Today his net worth is $45.9 billion USD.
In 1995, he started a translation business and made a trip to help a Chinese firm recover a pay. That was when he came across the internet and was captivated by it though he had no experience. He searched for the word ‘beer’ and when no result showed any Chinese beer, he decided to create an internet company for China.
His first two ventures failed but four years later he gathered 17 friends and convinced them to invest in his vision of an online market place he will call Alibaba. The company started off in 1999 and by October 1999 the company made its first $5 million from Goldman Sachs and $20 million from Softbank.
Jack Ma is a fighter ( he even fought a lot in school, and was never afraid of opponents bigger than his size) and never gives up, he told his employees when he started off, “We will make it because we are young and we will never, never give up.”
Alibaba became so popular in 2014 when Jack told CNBC at that time “Today what we got is not money. What we got is the trust from the people.”
Company lore says jack came up with the company’s name ‘Alibaba’ while sitting in a coffee shop in san Francisco, inspired by the story ‘Ali baba and the forty thieves’ , Ali baba unlocked hidden treasures and so did Jack.
On September 10, 2019, his 55th birthday, he handed over the Alibaba’s chairmanship to Daniel Zhang.
He is currently a full time philanthropist.

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