You Dont Know Jack

Alibaba founder jack ma is famous as one of China’s richest men. But the e-commerce mogul and his company remain a mystery to many outside his home country.For his next act, Ma plans to empower entrepreneurs around the world—and take his place as a global business leader.

- Adam Lashinsky

JACK MA IS ONE OF CHINA’S richest men, with a fortune valued at nearly $30 billion (Rs 1.9 lakh crore). As executive chairman of Alibaba Group, he leads the dominant force in Chinese e-commerce, a company with a market value of $264 billion and some 450 million customers. A global ambassador for Chinese business, he spent 800 hours aloft last year— visiting princes, Presidents, and Prime Ministers and lots of mere businesspeople too. “A professional pilot cannot travel that much, or so I’m told,” he boasts.

Even so, the rich and powerful people who meet with Ma tend to come away from the experience with a fresh nugget of information, either about him or about the still poorly understood digital conglomerate he started with a bunch of friends 18 years ago in the provincial coastal city of Hangzhou. Jim Kim, a physician who is the president of the World Bank, met Ma four years ago over a dinner lasting more than three hours and was startled to find the billionaire wearing sandals, holding Buddhist prayer beads, and sitting cross-legged on his chair. Kim was so taken with Ma’s passion for facilitating global trade by focussing on small-business people that he’s rethinking his international development organisation’s approach.

Others are moved by Ma’s humanity. Jean Liu, president of Chinese ride-hailing startup Didi Chuxing, has known Ma for years and considers him a mentor. (Alibaba is a Didi shareholder.) She recently learned, through family connections rather than from Ma, about how he repeatedly visited a seamstress he had met after learning she was ill. Says Liu: “He genuinely cares about the people around him.”