Jack Ma, who is China’s richest man has surprisingly stepped down as chairman and retired at an early age of 54. He is the mind behind the world’s largest online marketplace, Alibaba, founded in 1999.
Jack Ma’s story has been super inspiring. It has been nothing short of a miraculous roller coaster filled with hard work and belief. He was bogged down several times, his idea of opening this marketplace was ridiculed multiple times before it finally became a hit and got to be known as Alibaba, one of the world’s largest conglomerate.
Jack Ma was earlier an English teacher, but his resilience and the attitude to never give up made him what he is today. His company is today compared to world’s biggest groups like Amazon, etc. Alibaba today deals in not only online marketplace but also banking, entertainment, and cloud computing businesses
As far as the figures are concerned, Alibaba reported roughly $40 billion in revenue last year. From its e-commerce business, Alibaba reported about $10 million in the last quarter. Although Jack Ma has cleared the air about his retirement, what is not clear yet is the name who will be succeeding Ma. However, Jack will continue to be on its BOD.
Jack Ma had revealed in the past that he will be following the footsteps of Microsoft owner Bill Gates who had also opted for an early retirement. What do you think is the reason why bigwigs opt for an early retirement? The quote which says “Retire at the age of 50 and have enough for the future generations and yourself” is being taken too seriously or is it something else?
What’s important to note is that these big shots still continue to be a part of the company’s decision making and shareholding; just that they don’t hold any prominent position anymore! Quite cool. Isn’t it?