Smart People Need A ‘Fool' To Lead Them, Says Alibaba's Jack Ma

I tend to believe that if women rule the world, there will be greater peace on Earth. It was then that he decided to found an internet company for China. Check the temperature of your environment to see how many people are slowly exiting your life, refusing to be in your presence and avoiding you at all costs. He will remain on Alibaba's board of directors and serve as a mentor to the company's new management, he said.

As Alibaba has flourished, Mr. Ma has talked many times about how he did not want to spend his whole life at the company, saying he would retire one day and go back to teaching. But more has changed than the structure of China's economy and the clout of digital giants like Alibaba.

The departure of Mr. Ma is likely to jolt China's internet industry, which has been reeling from the arrest last weekend of Liu Qiangdong , the billionaire founder of the online retailer Mr. Liu, who goes by Richard Liu in the English-speaking world, was arrested on a rape allegation in Minneapolis during a business trip.

Ma's first online search was beer,” but he was surprised to find that no Chinese beers turned up in the results. Chinese digital payments giant Ant Financial said Friday it had raised $14 billion in its latest financing round, making it the world's largest fintech company ahead of an expected mammoth IPO.

Under the leadership of President Xi Jinping, however, China's political system has grown hostile to private businesses that become too big or too disruptive. Ma's comments come as Alibaba is on the verge of kicking off its most important annual shopping event - Singles' Day on Nov 11 - an online bargains extravaganza that often has a heavy foreign commerce component.

Alipay controls 50% of China's 600 million online payment accounts. He founded his organization in 2014 as a way to make improvements in rural China's educational system. Recently on 8th September 2017, Jack Ma celebrated 18 glorious years of Alibaba Group. Alibaba's $25 billion initial public stock offering on Wall Street in 2014 is China the biggest to date by a Chinese company.

People is the most important aspect in business for Jack Ma. He believes that the long-term way of business is through people's hearts, it is not through short-term profit & opportunistic self-interest. Founder and Executive Chairman Jack Ma has reached spectacular levels.

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