Today, Jack Ma officially steps down as the chairman of Alibaba, the giant e-commerce company he cofounded 20 years ago.
Ma has implemented a succession plan—passing the baton to the next generation, including CEO Daniel Zhang and CFO Maggie Wu.
His next chapter will be to pivot from the business world to improving education through philanthropy, following the footsteps of Bill Gates, a fellow pioneer in technological innovation. Ma would rather appropriate the earnings he’s made from Alibaba to positively changing the education system in China, instead of handing it to investors or banks.
Ma grew up in humble circumstances in communist China. He famously tells people how he how he twice failed his university-entrance exams and was rejected from every job he applied to after college, including the fast-food chain, KFC.Ma, along with a scrappy team of 18 people
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