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I Was Happier When I Was Not A Billionaire – China’s Richest Man

Jack Ma, the founder and executive chairman of Alibaba, became the richest man in China after Alibaba IPO’d for a record $25 billion last September. But Ma was just as happy — perhaps even happier — when he was barely making any money right out of college. After graduating in 1988, Ma worked as an English teacher at a local university in his hometown of Hangzhou, China. He only made $12 a month, according to the documentary about his life called “Crocodile in the Yangtze.” When speaking at a luncheon with the Economics Club of New York, Ma referred to this period as the “best life I had.” When you don’t have much money, you know how to spend it, Ma explained. But once you become a billionaire, you have a lot of responsibility. “If you have less than $1 million, you know how to spend the money,” he said during his speech. ” [At] $1 billion, that’s not your money…The money I have today is a responsibility. It’s the trust of people on me.” ALSO READ:  From Rags To Riches: Inspirational Story Of Sylvester Stallone Ma says he feels a need to spend his money “on behalf of the society.” “I spend it our way,” he said. “It’s a trust.” This isn’t the first time Ma has spoken about the burden of being a billionaire. When speaking at a panel at the Clinton Global Initiative in New York, he referred to his days as an English teacher as “fantastic,” according to CNN Money. He said anyone with $1 million is “lucky,” but when you reach $10 million, “you’ve got troubles.” After Alibaba’s IPO, he told CNBC that the pressure that comes with the responsibility gets to him, especially now that the world is focusing on Alibaba’s stock price. “IPO is great because … I’m happy with the results,” he said to CNBC. “But honestly, I think when people think too highly of you, you have the responsibility to calm down and be yourself.”

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Written by PH

3 Comments

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  1. But the rich should give the poor some of their wealth. Keeping a lot of money may not help. Or they would consider putting up infrastructure such as schools, hospitals, power dams, bus/railway transport, etc etc etc at subsidised costs to better lives of the poor. Honestly! Even food could be produced and supplied at subsidized prices because many of the poor die of hunger too. It is pointless to own what you may not use in your life time. Keeping a lot of wealth just because you Want to be known in the world as the wealthiest African, Wealthiest Chinese etc etc is not only beeing greedy, unintelligent but also being short sighted. In the world, we are all destined for one place – death. While here, we shall all be equall as GOD asks us questions

  2. I totally agree with you Paul. True happiness comes from being kind to others, sharing with others and helping others. All religion has this as a way to heavenly bliss. If this is heaven, then many of us will miss it. No one can teach a wealthy person how to use his gold and silver to get happiness. Charity and generosity leads to happiness if it radiates from within. Accumulation of wealth without a purpose has led to the early demise of great kingdoms and dynasties. It may also come to pass in the information age. I pray and wish good luck to Jack Ma and all those who got legitimate wealth so that they can retire early and get true happiness in life.

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