Entrepreneurs
Jack Ma Net Worth
Net Worth: | $24.5 Billion |
---|---|
Age: | 60 |
Born: | October 15, 1964 |
Gender: | Male |
Height: | 1.61 m (5 ft 3 in) |
Country of Origin: | China |
Source of Wealth: | Founder of Alibaba |
Last Updated: | Dec 14, 2024 |
What is Jack Ma’s net worth?
Jack Ma is a Chinese entrepreneur and the founder of Alibaba Group with an estimated net worth of $24.5 Billion.
Before founding Alibaba, Ma faced one rejection after another and got used to being told he wasn’t good enough. And for a guy who was told he was never good enough, becoming one of the wealthiest people in the world has proven them wrong.
Early Life
Jack Ma was born on the 10th of September 1964 in Hangzhou, China.
At a young age, Jack was very interested in learning English and went to great lengths to improve his skills.
He would ride his bicycle 70 minutes a day to and from Hangzhou’s international hotel to converse with tourists.
Ma also started offering free tours around the city in exchange for English lessons.
When it came to college, Ma struggled to pass the entrance exams. They are only held once a year in China, and it took him a total of 4 years to pass.
Eventually, he graduated from Hangzhou Teacher’s Institute and became an English teacher, where he was only paid a very small wage.
Career
After graduating from Hangzhou Normal University in 1988, Jack Ma applied for several jobs and was rejected by every single one.
However, he was able to start his own company, Hangzhou Haibo Translation Agency in 1994 and, the following year, created a website about Chinese beer.
Soon after, he launched China Pages, his second company, which earned the equivalent of $1.18 million in today’s currency in three years.
Quickly becoming one of the richest people in Asia, Jack Ma became the go-to guy for building websites for Chinese companies.
Building His Fortune
In 1998, Jack Ma worked with the China International Commerce Center but quit in 1999 to establish Alibaba in Hangzhou.
By 2000, Alibaba earned $25 million in venture seed capital from Goldman Sachs and SoftBank, which allowed it to grow exponentially.
Three years later, Ma started the Taobao Marketplace, which eBay offered to purchase, but Ma turned them down.
Instead, Ma gained support from Jerry Yang, the co-founder of Yahoo, who offered him a $1 billion investment in Alibaba.
Since then, Jack Ma has grown Alibaba to include several subsidiaries, including AliExpress, Alipay, Alibaba Cloud Computing, and Tmall eTao.
Ma also launched the non-profit organization, the Alibaba Hong Kong Young Entrepreneurs Foundation, in 2015.
This organization helps support entrepreneurs in Hong Kong so they can expand their businesses and become successful.
In the same year, Ma’s company funded the construction of 1,000 houses in Nepal after the country was devastated by an earthquake.
In 2017, Ma met with then-President-elect Donald Trump to discuss expanding Alibaba’s business interests inside the United States.
At the same time, he partnered with Li Ka-Shing, the Hong Kong business tycoon, to offer a digital wallet service in HK.
Jack Ma then stepped down as the executive chairman of Alibaba Group Holding in 2018, allowing Daniel Zhang to take over.
He also stepped down from the board of Alibaba in 2020, though he remains involved in the company.
Ma’s Recent Involvement
Following a 2020 regulatory crackdown on Alibaba, Jack Ma disappeared from the public eye after criticizing China’s banks and regulators.
However, the Alibaba Foundation and the Jack Ma Foundation did donate medical supplies to the US, Africa, and Europe during the COVID-19 pandemic.
For his philanthropy, Ma was named one of Asia’s “Heroes of Philanthropy,” and he was given the Malcolm S. Forbes Lifetime Achievement Award.
In 2022, Ma was reportedly living under the radar in Tokyo, Japan, though he returned to Hangzhou to tour the Yungu school in 2023.
The school, funded by Alibaba, is located near the company’s headquarters, and after his visit, Ma returned to traveling abroad.
Later that year, Ma became a visiting professor at the University of Tokyo, focusing on food production and agriculture while lecturing on entrepreneurship.
In 2024, Ma became Alibaba’s largest shareholder, replacing SoftBank, who previously held the company’s largest share.
Now one of the richest people in the world, Jack Ma continues to have a huge influence on e-commerce and technology in China and around the world.
Estimated Net Worth
Jack Ma’s net worth is estimated at $24.5 Billion.
Jack Ma’s Net Worth Over Time
Year | Net Worth |
---|---|
2009 | $1.3 Billion |
2010 | $1.2 Billion |
2011 | $1.6 Billion |
2012 | $2.6 Billion |
2013 | $3.4 Billion |
2014 | $10 Billion |
2015 | $22.7 Billion |
2016 | $20.5 Billion |
2017 | $28.3 Billion |
2018 | $39 Billion |
2019 | $37.3 Billion |
2020 | $38.8 Billion |
2021 | $48.4 Billion |
2022 | $22.8 Billion |
2023 | $23.5 Billion |
2024 | $24.5 Billion |
Highlights
Here are some of the best highlights of Jack Ma’s career:
- Offered city tours to foreign visitors in exchange for learning English
- Graduated from Hangzhou’s Teacher’s Institute (1988)
- Got rejected for many jobs including Manager’s position at KFC
- Hired as an English teacher at a local university, and made $12/month
- Gather 17 friends in his apartment, asking them to invest in Alibaba
- Yahoo invested $1 billion in Alibaba (2005)
- Resigned as CEO (2013)
Summary
Rejection has been present in Jack Ma’s life ever since he was a teenager, and he faced much of it.
But his inspiring story, from being rejected from a position at KFC to founding one of the most valuable companies in the world, is inspiring for us all.
As of 2024, Jack Ma’s net worth is estimated to be $24.5 Billion.
What do you think about Jack Ma’s net worth? Leave a comment below.
Entrepreneurs
Carlos Ghosn Net Worth
What is Carlos Ghosn’s net worth?
Net Worth: | $120 Million |
---|---|
Age: | 70 |
Born: | March 9, 1954 |
Gender: | Male |
Height: | 1.70 m (5 ft 7 in) |
Country of Origin: | Brazil |
Source of Wealth: | Entrepreneur |
Last Updated: | Dec 13, 2024 |
Introduction
Carlos Ghosn is a Brazilian-born French businessman with an estimated net worth of $120 Million.
Ghosn is best known for being the CEO of Michelin North America, Renault, AvtoVAZ, Nissan, and Mitsubishi Motors.
Career Overview
After graduating from the École des Mines de Paris in 1978, Carlos Ghosn worked for Michelin for 18 years. At first, he trained and worked at several plants throughout France and Germany before becoming a manager in Le Puy-en-Velay, France.
In 1984, Ghosn became the head of research and development and, a year later, was named the COO of the company’s operations in South America.
Ghosen moved to Rio de Janeiro, where the business had become unprofitable due to Brazil’s hyperinflation. Tasked with turning things around, Ghosen rose to the challenge with success and was named the president and COO of Michelin North America in 1989.
Rising Through The Ranks
In 1990, Carlos Ghosn became the CEO of Michelin North America and oversaw the company’s restructuring after purchasing Uniroyal Goodrich Tyre Company.
Six years later, Ghosn was elected Vice President of research, purchasing, development, and manufacturing at Renault, a French auto manufacturer. Under his guidance, Renault became exceptionally profitable, which led to Renault and Nissan forming the Renault-Nissan Alliance in 1999.
While maintaining his previous roles, Ghosn became Nissan’s COO and was named president in 2000 and CEO in 2001. Ghosn turned Nissan’s sinking profits around with his “Nissan Revival Plan,” which reduced the company’s debt by 50% by 2002. To do this, he cut 14% of jobs, shut down five Japanese plants, and auctioned off assets, including the company’s aerospace division.
In 2005, he became Renault’s president and chief executive, making him the first person to run two Fortune 500 companies simultaneously. While not as wealthy as the richest people in America, Ghosn’s business strategies for success were undeniable, even if some people disagreed with his methods.
Ghosn’s Recent Business Deals
Carlos Ghosn became the chairman of GM in 2005, following a merger between the company and Renault and Nissan. Ford offered to allow Ghosn to lead the company the following year, but he refused, stating he’d have to be made both CEO and chairman.
In 2007, Ghosn pushed Renault-Nissan into the electric car market, which helped make it the world leader in electric vehicles by 2017. Soon after, he was named the deputy chairman of the Russian auto manufacturer AvtoVAZ and, in 2013, became the company’s chairman.
After a long tenure, Ghosn stepped down as CEO of Nissan in 2017 while remaining chairman and was succeeded by Saikawa Hiroto. However, the year before, Ghosn had become chairman of Mitsubishi Motors following Nissan’s acquisition of a 34% stake in the company.
Arrest & Legal Issues
Ghosn’s arrest in Tokyo in November 2018 ignited a major corporate scandal. Japanese authorities charged him with concealing over $80 million in income and using Nissan funds for personal expenses. Shortly after, additional allegations surfaced, including breach of trust and misuse of company assets for personal gain.
In 2019, U.S. authorities added charges for his failure to disclose $140 million in expected compensation and retirement benefits, leading Ghosn to settle with a $1 million fine and a 10-year ban from serving as an officer or director of any U.S. public company.
Ghosn spent several months in solitary confinement in a Tokyo prison cell and was eventually granted bail at 1 billion yen (around $8.9 million), a record-breaking amount in Japan at the time. However, his bail was granted under strict conditions, such as that he would remain under house arrest, constant surveillance, and be limited to restricted contact with others. But in December 2019, Ghosn executed a dramatic escape from house arrest, hiding inside an audio equipment box on a private jet to Turkey, and then boarded another plane bound for Beirut, Lebanon, a country with no extradition agreement with Japan.
From Beirut, Ghosn claimed his arrest was a corporate scheme led by Nissan executives aiming to block his $30 billion plan for a full Nissan-Renault merger. He argues that Nissan’s leadership, worried about losing control to Renault, worked with Japanese officials to push him out.
Ghosn has since openly criticized Japan’s justice system, which has a 99% conviction rate, calling it “hostage justice” because of the pressure placed on defendants to confess under strict detention.
As of this year, Ghosn is still hiding out in Lebanon, facing international arrest warrants from Japan and France along with an Interpol Red Notice.
Estimated Net Worth
In 2024, Carlos Ghosn’s net worth is estimated to be $120 Million.
What do you think about Carlos Ghosn’s net worth? Leave a comment below.
Entrepreneurs
Rich Barton Net Worth
What is Rich Barton’s net worth?
Net Worth: | $2.1 Billion |
---|---|
Age: | 57 |
Born: | June 2, 1967 |
Gender: | Male |
Height: | Unknown |
Country of Origin: | United States of America |
Source of Wealth: | Entrepreneur |
Last Updated: | Dec 13, 2024 |
Introduction
Rich Barton is an American entrepreneur and CEO of Zillow Group with an estimated net worth of $2.1 Billion.
Barton has founded multiple companies, including online travel company Zillow, job search engine Glassdoor, and photography site Trover. Barton was a venture partner at Benchmark and is on the board of directors for Netflix, Avvo, Nextdoor, and Artsy.
Career Overview
After graduating from Stanford University with an engineering degree, Rich Barton started working for the Alliance Consulting Group in 1989.
In 1991, he left and began working for Microsoft as a project manager for the operating system MS-DOS 5.0. While working for Microsoft, Barton founded the travel site Expedia in 1994 as the company was planning to build a travel guide on CD-ROM. However, Barton pitched the idea of an online service to Bill Gates, who permitted him to pursue the project.
In 1996, Expedia made its debut on the internet, and Rich was the CEO of the site’s IPO until 2003, when it was purchased for $3.6 billion.
Making Billions
After selling Expedia’s IP, Rich Barton took a year-long break from business to relax in Italy and enjoy his success. However, he didn’t rest for too long and made a comeback in 2004 to begin setting his next business plan in motion. Now in Seattle, Barton began working on the site Zillow, which he believed could transform the real estate industry.
In December 2004, Zillow was incorporated in Washington and officially launched in February 2006. Upon launch, the site included a home valuation tool, sales history, and value appreciation information. However, the site crashed on the morning of its launch because the servers weren’t strong enough to handle the immense traffic.
By 2008, Zillow had grown exponentially and, in 2010, had become incredibly profitable for the first time since its launch.
In 2012, Barton purchased Rentjuice and Hotpads, followed by Street Easy in 2013 and Trulia in 2015. All of this helped make Rich Barton one of the richest people in America, and his net worth continues to increase.
Maintaining Zillow
Although Rich Barton stepped down as CEO in 2010, he returned in 2019, replacing Spencer Rascoff. A year prior, the site began buying and selling through the new Zillow Offers, which partnered with local real estate agents. Upon returning to the CEO position, Barton began expanding Zillow Offers into new markets across the United States. However, when the pandemic struck in 2020, Zillow saw its stock hit a four-year low, forcing them to cut expenses to stay profitable.
By July 2020, Zillow became one of the first companies to allow employees to work from home permanently. This allowed them to hire an additional 1,500 employees with the plan to expand their workforce by 40% by the end of 2021.
Unfortunately, things didn’t pan out, and Barton announced in November 2021 that Zillow was shutting down its home-buying business and laying off 25% of employees.
This didn’t stop the Zillow Group from acquiring other businesses throughout the 2020s to expand their reach. These companies include ShowingTime, Follow Up Boss, and VRX Media, all of which have benefited Zillow. At the same time, Forbes named Barton a billionaire in 2020 after his earnings from Zillow continued to grow.
Now one of the richest people in the world, Rich Barton has a $700 million stake in Zillow and plans to turn it into a home-flipping machine. He’s undoubtedly lived up to his first name, earning billions through his business.
Rich Barton Net Worth
In 2024, Rich Barton’s net worth is estimated to be $2.1 Billion.
Highlights
Here are some of the best highlights of Rich Barton’s career:
- Chief executive officer of Zillow Group
- One of the top 10 innovators under 35 by MIT Technology Review (2003)
- Presidential Ambassadors for Continental Entrepreneurship (2012)
Summary
Rich Barton is an American entrepreneur and businessman best known for being the CEO of the Zillow Group.
He is also the founder of Expedia and Glassdoor. Barton was born in Connecticut and graduated from Standford University. He has also founded the online travel photography-sharing site Trover.
He was a venture partner at Benchmark and served on the boards of directors for Netflix and Artsy. In 2012, he was named one of Barack Obama‘s Presidential Ambassadors for Continental Entrepreneurship.
What do you think about Rich Barton’s net worth? Leave a comment below.
Entrepreneurs
Russell Simmons Net Worth
What is Russell Simmons’ net worth?
Net Worth: | $340 Million |
---|---|
Age: | 67 |
Born: | October 4, 1957 |
Gender: | Male |
Height: | 1.76 m (5 ft 9 in) |
Country of Origin: | United States of America |
Source of Wealth: | Entrepreneur |
Last Updated: | Dec 13, 2024 |
Russell Simmons is an American record producer and entrepreneur with an estimated net worth of $340 Million.
Simmons is the co-founder of the record label Def Jam and has been among the top 25 most influential people in the industry over the past 25 years, playing a pivotal role in bringing hip-hop music to the forefront.
Early Life
Russell Simmons was born in Queens, New York, on October 4, 1957.
He is the son of Daniel Simmons Sr. and Evelyn Simmons. His father was a public school administrator, and his mother worked as a park administrator. Simmons attended the City College of New York for some time, after which he dropped out and went on to promote local musicians.
Career
During college, Simmons met industry mentor Robert Ford Jr., and a few years later, he co-founded Def Jam Recordings with Rick Rubin. In 1985, he co-produced and appeared alongside Daryl McDaniels in the film “Krush Groove” and launched the Def Comedy Jam television program.
From Rap To Riches
The Def Comedy Jam program featured notable figures such as Dave Chappelle, Chris Rock, and Martin Lawrence, who were prominent comedians then. At the same time, Russell’s services to the music industry and hip-hop culture were honored at the 2004 VH1 Hip Hop Honors. A few years later, he produced hit films “The Nutty Professor” featuring Eddie Murphy and “How to Be a Player.”
In 2003, Russell established RushCard, a prepaid debit card provider, and launched Phat Fashions LLC, featuring Phat Farm and Baby Phat labels. The apparel line has a traditional appearance and feel thanks to the influence of designers like Ralph Lauren and Tommy Hilfiger. Not long after establishing the business, he sold Phat Farm and Baby Phat to Kellwood Company in 2004 for $140 million.
That same year, he formed the Russell Simmons Music Group as a joint venture with Universal Music’s Island Def Jam Music Group.
Simmons’ Vegan Advocacy
Additionally, he co-founded the Rush Philanthropic Arts Foundation and received an Honorary Doctorate Degree in Humane Letters from Claremont Lincoln University in 2014. He also coordinated the anti-Rockefeller Drug Law demonstrations promoting more equitable drug laws and was designated as the UN Slavery Memorial’s Goodwill Ambassador.
Russell is a huge PETA supporter and won the PETA Humanitarian Award in 2001 and the Person of the Year Award. The group PETA (People for the Ethical Treatment of Animals) fights against animal abuse in entertainment and industry, advances vegetarianism, and defends animal rights. Many celebrities, such as Pamela Anderson, Ellen DeGeneres, and Woody Harrelson, are just a few of the figures supporting PETA.
His involvement with the NGO has influenced him to live a healthier lifestyle. He has become vegan himself and promotes the routine.
Signing Lil Skies And Jack Harlow
Simmons, a vegan since 1999, supports the David Lynch Foundation, which encourages activism, mindfulness, and vegetarianism; he also practices Jivamukti Yoga and Transcendental Meditation. He supports the Somaly Mam Foundation, which combats human trafficking and sexual slavery and endorses the second Muslim Jewish Conference promoting interfaith dialogue and cooperation.
In 2012, Simmons’ book “Super Rich: A Guide to Having It All” took home the NAACP Image Award for Outstanding Literary Work – Non-Fiction.
To top it all off, Richtopia listed him as one of the 200 most influential social entrepreneurs and philanthropists worldwide in 2017.
Russell released the “Masterminds of Hip Hop” NFT collection alongside Snoop Dogg and Ice-T and became a senior advisor for the vegan brand Everything Legendary.
Recently, Russell has been more involved in Def Jam Records, signing up-and-coming artists such as Lil Skies, Jack Harlow, and Dreezy.
Estimated Net Worth
Highlights
Here are some of the best highlights of Russell Simmons’ career:
- Co-founded Def Jam (1983)
- Krush Groove (Movie, 1985)
- Launched Clothing Line (1992)
- Sold Phat Farm (2004)
Summary
Russell Simmons was one of the first producers in the industry to co-found one of the most significant record labels ‘Def Jam’. Simmons has collaborated with some of the best artists, such as Jay Z and LL Cool J.
What do you think about Russell Simmons’ net worth? Leave a comment below.
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