Jack Ma

Jack Ma's name is inseparable from China's internet rise. When he launched Alibaba in the late 1990s, Chinese internet penetration was minimal and e-commerce unknown. That a former English teacher built the country's largest commerce empire testifies to timing, empathy, and tenacity.

Born Ma Yun in 1964 in Hangzhou, he practiced English by chatting with foreign tourists. He failed the gaokao twice before passing on the third attempt and entering Hangzhou Normal University. After graduation he taught English for about 90 yuan a month -- stable but insufficient for his entrepreneurial drive.

A 1995 US trip as an interpreter changed everything. Encountering the internet, Ma was struck by the absence of Chinese content. He launched China Pages, an online directory, then joined a government web project before leaving in frustration. In 1999, gathering 17 co-founders in his apartment, he started Alibaba as a B2B marketplace linking Chinese small businesses to overseas buyers.

In 2003 Alibaba entered C2C with Taobao, challenging eBay China through zero fees, escrow payments (later Alipay), and instant messaging. eBay effectively withdrew within years. Alipay solved the trust gap: buyers deposited funds and released payment only after confirming receipt. By building payment infrastructure, Alibaba became a pillar of China's digital economy.

In 2014 Alibaba's NYSE IPO raised roughly $25 billion, then a record. After the Ant Group IPO was suspended in 2020, Ma retreated from public life, spotlighting the complex dynamics between Chinese private enterprise and the state. His creed -- customers first, employees second, shareholders third -- prioritizes ecosystem health over short-term shareholder returns.