Jack Ma, the Founder and Executive Chairman of Alibaba, became the richest man in China after Alibaba IPO\u2019d for a record $25 billion last September.<\/p>\n
But Ma was just as happy \u2014 perhaps even happier \u2014 when he was barely making any money right out of college.<\/p>\n
After graduating in 1988, Ma worked as an English teacher at a local university in his hometown of Hangzhou, China.<\/p>\n
He only made $12 a month, according to the documentary about his life called \u201cCrocodile in the Yangtze.\u201d<\/p>\n
When speaking at a luncheon with the Economics Club of New York, Ma referred to this period as the \u201cbest life I had.\u201d<\/p>\n
\u201cWhen you don\u2019t have much money, you know how to spend it, Ma explained. But once you become a billionaire, you have a lot of responsibility. \u201cIf you have less than $1 million, you know how to spend the money,\u201d he said during his speech. \u201d<\/p>\n
[At] $1 billion, that\u2019s not your money\u2026The money I have today, is a responsibility. It\u2019s the trust of people on me.\u201d<\/p>\n
Ma says he feels a need to spend his money \u201con behalf of the society.\u201d<\/p>\n
\u201cI spend it our way,\u201d he said. \u201cIt\u2019s a trust.\u201d This isn\u2019t the first time Ma has spoken about the burden of being a billionaire.<\/p>\n
When speaking at a panel at the Clinton Global Initiative in New York, he referred to his days as an English teacher as \u201cfantastic,\u201d according to CNN Money.<\/p>\n
He said anyone with $1 million is \u201clucky,\u201d but when you reach $10 million, \u201cyou\u2019ve got troubles.\u201d<\/p>\n
After Alibaba\u2019s IPO, he told CNBC that the pressure that comes with the responsibility gets to him, especially now that the world is focusing on Alibaba\u2019s stock price.<\/p>\n
\u201cIPO is great because \u2026 I\u2019m happy with the results,\u201d he said to CNBC.<\/p>\n
\u201cBut honestly, I think when people think too highly of you, you have the responsibility to calm down and be yourself.\u201d
\n–
\nCredit: Entrepreneur.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Jack Ma, the Founder and Executive Chairman of Alibaba, became the richest man in China after Alibaba IPO\u2019d for a record $25 billion last September. But Ma was just as happy \u2014 perhaps even happier \u2014 when he was barely making any money right out of college. After graduating in 1988, Ma worked as an […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[107,11],"tags":[],"yoast_head":"\n