This is a few principles for us to select talent [95]. Based on our data team's research, Ma Huateng is the Tencent's CEO. Effectiveness of leadership style. Ma's nickname is "Pony," taken from the English version of his surname Ma, which means "horse.". [43] References [ edit] "[33] Ma Huateng seldom appears in the media and is known for his secretive lifestyle. Ia dilahirkan dari seorang ibu yang bernama Huiqing Huang dan seorang ayah yang bernama Ma Chensu. [31] In order to solve the problem, Ma asked for bank loans and even talked about selling the company. In essence, Googles business model has been labeled as continuous disruptive innovation [51] or continuous innovation [50]. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Inditexs supply chain operations focus on three aspects: maximizing resources used, minimizing inventory, and minimizing lead times [78]. Once a poor lad who survived by guiding tourists, Jack went on to rise above his humble condition and achieve success. Table 1 summarizes the findings on rankings associated with the four above-mentioned features. Even for software as complicated as QQ, they still maintained the speed of releasing two to three versions every month. Taobao did not charge a fee but made money from online services and advertising. Ma Huateng , born on October 29, 1971), also known as Pony Ma, is a Chinese billionaire business magnate. In Hong Kong, he has a rebuilt palatial mansion of 1,820 m2 (19,600 sq ft). Founders were two students of Stanford University, Sergey Brin, and Larry Page [48]. A charismatic leader is a person, who has the ability to influence people and who, consequently, has some controlling power over them [9]. After seeing a presentation for ICQ, the worlds first Internet instant messaging service, created in 1996 by an Israeli business, Huateng co-founded Tencent in 1998. Tencent made over $56 billion in revenue in 2019, alone. In 2004, Tencent launched an online gaming platform and started selling virtual goods to support the games published on that platform (weapons, gaming power), as well as emoticons and ringtones. Superlatives attach themselves to Pony Ma and Tencent, the Chinese technology juggernaut the 46-year-old entrepreneur cofounded and leads as CEO. Ma Huateng expressed that our basic research in science and technology is still weak, and we don't have many unique innovations. This type of leadership is best used when there is a big change in the company or a clear direction is needed. Best known as the brains behind the WeChat messaging app and Player Unknown's Battlegrounds (PUBG), Pony Ma is a man who knows how to turn an idea into hard cash. No exceptions, said Bezos. 18% of the management team is White. Besides other studies, interviews, and papers that prove this point [55, 71, 72, 75], Zuckerberg produced a number of quotes that support this statement. Updates? Ma Huateng is the Chinese Billionaire Co-Founder, CEO, and Chairman of Tencent, one of Asia's largest technology companies. iPhones would belong to the category of revolutionary innovations [40, 41, 42, 43]. Walter Isaacson, Steve Jobs official biographer, described the founder of Apple as a creative entrepreneur whose creativity, passion for perfection and ferocious drive revolutionized six industries: personal computers, animated movies, music, phones, tablet computing, and digital publishing [44]. The article Leadership theory and research in the new millennium: Current theoretical trends and changing perspectives [1] provides a review of the state-of-the-art research in terms of leadership research of the last two decades, including most of the theories and frameworks, except that of visionary leadership, which has anyway been included in the analysis [2]. By setting the right cultural tone. Tencent developed an online gaming platform in 2004 and began selling virtual goods (weapons, gaming power) as well as emoticons and ringtones to support the games produced on that platform. As for external competition, Tencent has experienced plenty. BAT Baidu, Alibaba and Tencent are Chinas power gang. Under Ma s leadership, Tencent has moved into web portals, social networks, multi-player online games and e-commerce, making the company today an Internet powerhouse and China s number one brand. Later, Microsoft also played a key role in another emerging industry: gamingXbox [68, 69, 70]. Still, Tencent has surged ahead and left national rivals like Baidu behind. 2.2.2. Home prices slumped for a third-straight month in September; Twitter quietly stopped enforcing its Covid-19 misinformation policy; meet the youngest honorees on Forbes 30 Under 30 2023 list; and more. The concept of transformational leadership was introduced by James MacGregor Burns in his book Leadership [4] and then further developed in Transforming Leadership: A New Pursuit of Happiness [5]. General Electric (GE), a multinational technology corporation, was founded by Thomas Alva Edison in 1889, in Schenectady, New York, USA. He then worked in research and development for China Motion Telecom Development Ltd. before founding (1998) Tencent with several friends. China, Industria de Diseo Textil, S.A. (Inditex, owner of Zara and other clothing retailing chains); Amancio Ortega. The Alibaba Group cofounder has been laying low for the last two years amid the Chinese governments crackdown on industry. Jobs, pioneered devices such as iMacs, iPods, iPhones, iTunes, and iPads and initiated projects such as Pixar and Apple computers [18]. Childhood & Early Life. In 2007, 2014,[6] and 2018, Time magazine named him one of the world's most influential people,[7] while in 2015, Forbes credited him as one of the world's most powerful people. In the case of entrepreneurial leadership, Gupta, MacMillan, and Surie came up with a list of 19 leadership attributes that appeared to be the most relevant [17]. He is the founder, chairman, and CEO of Tencent, one of Asias most valuable corporations, one of the worlds largest Internet and technology companies, as well as one of the worlds largest investment, gaming, and entertainment conglomerates. Jack Ma's wealth gain for the year all but evaporated, after Alibabas stock was dragged lower on renewed worries over the companys growth prospects. However, he definitively qualifies as a visionary leader. Lulu Chen's book charts how the success of WeChat has placed Pony Ma's. But where there are losers, there are winners: Ma expects people to bounce back from losses, pick themselves up and start over. Visionaries may be the only ones that can actually provide some accurate guesses, and, at the same time, put together, motivate, and guide a team in the right direction. Dev. Resilience is all part of Mas mission to face down internal and external attackers. Rudy Ma, the founder of financial services company Yuanta Financial Holdings, died Tuesday evening at age 82. In China, you can have hundreds of competitors within the first hours of going live. For leadership, we have to see things that other people dont see [92]. Tencent cofounder Ma Huateng (also known as Pony Ma) led the dive with a $6.1 billion wealth plunge, followed by Nongfu Spring Chairman Zhong Shanshans $5.6 billion and Country Garden Co-chairman Yang Huiyans $4.7 billion. Tencent lost the case and had to relinquish the domain names. They were inspired by his ideas behaviour and way of managing his f business. Tencent launched its own portal (QQ.com) in 2003 and entered the online games sector. Ma and his colleagues were inspired by the concept and developed a comparable program with a Chinese interface and a slightly different name OICQ (or, Open ICQ). My job is to create a space for them, to clear out the rest of the organization and keep it at bay [46]. Ma led his company's leadership committee on a two-day hike through the Gobi Desert for their off-site retreat last year, according to Bloomberg. [Google . Red Packets are a good example. Spain. They write new content and verify and edit content received from contributors. WeChat, a mobile instant-messaging application that was introduced in 201, soon gathered 650 million users [94]. He was born in 50 years old as of 29 October 2021. By partnering with Silicon Valleys favoured few, Tencent can enjoy exclusive invitations to the global party. 5. Jack Ma, the cofounder of Chinese e-commerce giant Alibaba, is said be in Hong Kong to meet friends and finance executives, the Hong Kong Economic Times (HKET) reported on Friday, citing anonymous sources. Education Graduate, Computer Science, Shenzhen University. Innovation Tencents third source of revenue is an ecosystem built around its one billion users. There is some dispute among scholars regarding the quality of Pages leadership strength, especially during his early tenure [56]. Ma's leadership style changed from transactional leadership to transformational leadership. Tencent is among the largest video game, social media, venture capital, and investment corporations in the world [93]. Inditex ranked 67 in the global top 100 as per market capitalization [29]. In 1956, Ohno visited the USA to learn their supply and inventory methods. The definition of entrepreneurial leadership can be traced back to different theories about entrepreneurship [14], entrepreneurial orientation [15, 16], and entrepreneurial management [16]. This chapter reviews relevant literature in order to identify the leadership framework and profile that may better characterize entrepreneurs and business leaders that eventually founded or developed disruptively successful firmspopularly known as unicorns. Next, the chapter describes a conducted multi-case study that demonstrates a strong correlation between the positive checkmarks in the selected leadership frameworkvisionary leadershipand the profile of the leaders of nine different international corporations that became industry leaders in less than 20years (Apple, Google, Microsoft, Facebook, General Electrics, Toyota, Alibaba, Tencent, and Inditex). They called the new search engine Googlea name derived from a misspelling of the word googol [48]. Bill Gates clearly fits in the description of an innovator, a pioneer, and a supporter of organized learning and growth [45, 67, 71, 72, 73]. He red o an email and the next day a new software release was online. [31] After the company raised $200 million in June's IPO, Ma quickly became one of the richest people in China's telecom industry. Alibaba and Tencent have repeatedly clashed over the same turf. With a click on a red envelope icon, gifts of money could be sent to friends and family. 6. From the revenue distribution of Tencent in recent years, we see an incredible increase in FinTech and business services from 2018. These labels define a concept different than Christensens. As well as empowering younger employees to take the lead, Ma and his team put in place simple rules. On his role as a supporter of organized learning and growth inside the organization: My job as a leader is to make sure everybody in the company has great opportunities, and that they feel theyre having a meaningful impact and are contributing to the good of society. Part of WeChats early success was its likeness to WhatsApp and Kik, designed for the smartphone. Ma Huateng, also known as Pony Ma, is a Chinese billionaire entrepreneur. This method required concentration of researchers and projects in one spot. Then, his two roommates, Chris Hughes and Dustin Moskovitz, helped him add a few features and they made Facebook available to other universities [74]. [5], Speaking of censorship at a tech conference in Singapore, Ma was quoted as saying "In terms of information security management, online companies from any country must abide by a defined set of criteria, and act responsibly. So Ma created Seven principles agility, openness, user rst, speed, resilience, evolution and innovation to guide product creation. Tencent embraced mobile and moved with the times. TENCNET PONY MA ZIXIN LUO(RITA) 4010255 Outline Outline Pony Ma's background TENCENT PONY MA'S MANAGEMENT STYLE CONCLUSION References list Pony Ma's Achievement LEADERSHIP STYLE Pony Ma' background Pony Ma's background He was born on October 29, 1971. Ma himself was hailed by Time magazine in 2014 as one of the world's most influential people. Ma Chenshu, his father, acquired a position as a port manager in Shenzhen, and the young Ma went with him. [42], Ma Huateng's wealth comes from the 9.7 percent stake in Tencent Holdings. At a tech conference in Singapore, I discussed censorship. We should not give up the dream of scoring stunning goals in the science and technology . They dont have to unlearn bad habits. You need resilience to keep you on the ball. Pony is Mas nickname, which comes from the English version of his surname Ma, which means horse. Ma is known for his reclusive lifestyle and rarely appears in the public. Our editors will review what youve submitted and determine whether to revise the article. Googles beginnings were less humble than those of earlier Silicon Valley startups at the time, because the two founders were able to initially raise US$1 million US dollars [49]. He Defines Failure as Giving Up: This is one of his popular leadership quality and skill that defines him a successful leader. [8][9] In 2018, he was named one of the "Most Powerful People In The World" by the CEOWORLD magazine. Openness also means sharing. Legend of Yulong and Legend of Xuanyuan, two online games, increased sales by more than half, to US$5.1 billion, with a profit margin of US$1.5 billion. Ma Huateng was born in Badagang, Guangdong (now Dongfang City), China, on October 29, 1971, into a humble household. The couple has a daughter named Ma Manlin. The key leadership style of Ma Huateng is transformational, as he has been able to inspire his employees to achieve great things Autocratic leaders make all the decisions without consulting their followers. Formative years and academics The birthplace of Ma is Chaoyang, Shantou, Guangdong province. Then, in 1975, Ortega started the first Zaras ready-to-wear clothing store. Agility Exxon Mobil, Berkshire Hathaway, Wells Fargo, and Johnson and Johnson [29]. Edison took advantage of the opportunity to learn telegraphy and, in 1863, he became an apprentice telegrapher. Here are further demographic highlights of the leadership team: The Tencent executive team is 50% female and 50% male. He was born in 1971 in Chaoyang, Shantou, China. Eventually, there is no assumption on what the results would have been or would be if some other of these frameworks would have been tested in the study. The 46-year-old magnate shies away from the spotlight, preferring to lead rather decisively from the shadows. Pony Ma's leadership style can be as unusual as his nickname. Several quotes from Larry Page that highlight his visionary skills are as follows: On being an inspirator: What is the one-sentence summary of how you change the world? And these products can be manufactured and given to people and they can sense that spirit [45]. Since then, GE has been in the lists of top ranked companies in the USA [61]. In the case of the selected framework, the results are the ones that tell if this choice was right. Ma Huateng - better known as "Pony Ma" - is the elusive founder, chairman and chief executive of China's titan tech rm Tencent. In 2000, Ma turned to US investment firm IDC and Hong Kong's telecom carrier Pacific Century CyberWorks (PCCW) who bought 40 percent of Tencent's shares for US$2.2 million. We lack people with dreams, who can die for those dreams; For most people, they see and believe. Within 2weeks, half of the students had signed up [74]. Amazons Je Bezos created a similar mandate in 2002. Tencent CEO Ma Huateng, also known as Pony Ma, started out making $176 a month and now has a net worth of $45 billion. Therefore, the list of multinationals and leaders included in the study is as follows: Toyota Motor Corporation; Taiichi Ohno. Inditex devised a new model of supply chain, the Agile Supply Chain (ASC), that allows its fashion retailer chains to update products just in time [77, 78]. It is the same that causes people to wantna be poets instead of bankers, and I think this is a wonderful thing. He applied the term transformational instead of transforming. Bass argued that transformational leadership has four constitutive parts [6, 7] which are (1) idealized influence, (2) inspirational motivation, (3) intellectual stimulation, and (4) individualized consideration. It is a system that says there is no limit to peoples creativity. Googles innovation model is based on a hubGoogleplexthat attracts talent; this is the same model than Edisons [50, 52, 53]. The Oxford Dictionary defines agility as the ability to move quickly and easily, which is the foundation on which Ma built the business. On this Wikipedia the language links are at the top of the page across from the article title. The software soon gained traction, with more than a million registered users by the end of 1999, making it one of Chinas most popular online services. Mas tolerance of failure is strategic. 10 principles for great leadership, according to Disney's Bob Iger. Ma Huateng is also the youngest amongst the first 15 multi-billionaires in the world. Some of the most relevant ones were the phonograph, the incandescent electric light and power, the motion picture camera, and the alkaline storage battery [53]. Openness Acad. "We knew our product had a future, but at that time we just couldn't afford it," Ma remembered. Think at London Business School: fresh ideas and opinions from LBS faculty and other experts direct to your inboxSIGN UP. Tencents earlier e orts include investing in the US-based Snapchat. 3. Ohno observed then how customers picked up a number of items from shelves and, in turn, the supermarket quickly and precisely replenished them [84]. Tencent subsequently gained the backing of two overseas venture-capital firms, and in June 2004 the firm raised nearly $200 million when it went public on the Hong Kong stock exchange. The list includes personal computers, music distribution, tablet computing, mobile phones and digital publishing. Jack Ma. 2004, 29, 222-240. Explore the Think at London Business School Hub. In the future, it would be interesting to conduct more targeted research that could, both, give more details on the profile and the role of these leaders in the stated context and further describe the associated leadership attributes. (TIE) Zhao Changpeng (Canada) Bloomberg. After purchasing ICQ in 1998, AOL initiated an arbitration against Tencent with the National Arbitration Forum in the United States, alleging that OICQs domain names OICQ.com and OICQ.net were infringing on ICQs trademark. This can be effective in some cases, but it can also lead to resentment from followers who feel like they are not being given a voice. Pony Ma, the low-profile founder of tech giant Tencent Holdings, created a social media stir over the weekend by reposting an article on China's economy, an unusual breaking of silence by a . Hum. But theyre allergic to rules. Ortega eats lunch with his employees in the company cafeteria. Zhang emailed Ma asking for permission to create a competitor to Kik Messenger, founded in 2009 by a group of students from the University of Waterloo in Canada. Ma Huateng is a business tycoon, an entrepreneur, an engineer, a philanthropist, and an investor. If Tencents success in the early 2000s lets call it Tencent 1.0 was due to replication, that of Tencent 2.0 was down to incremental innovation. Mandi is an experienced writer on various topics with a passion for telling stories with words. Ma Huateng dilahirkan di provinsi Guangdong, China pada 29 oktober 1971 dengan nama . Jack Ma, the former English teacher who founded Alibaba, is the antithesis of his namesake: fting world leaders, setting bold targets and his penchant for shooting from the hip leave his minders. "[41], Ma uses the nickname Pony, derived from the English translation of his family name Ma (), which means "horse. Speaking at the Tsinghua Management Global Forum in 2016, Ma pointed to Tencents early days as a classroom for culture. This style is applicable for the leaders in different sectors such as political, business, or even in religious sectors. Under Ma's leadership, Tencent has moved into web portals, social networks, multi-player games and e-commerce, making the company today an Internet powerhouse and China's number one brand. Leng Hu. Profiles. [24][25], Ma was born in Chaoyang, Shantou, Guangdong. Besides, the analyzed variables are not quantitative in nature. Ultimately, though, the combination of Onhos leadership and revolutionary innovation transformed Toyota from being an average car maker in Japan to becoming the number one global leader. Tencent. Visionary leadership style. Mas management style shifted from transactional to transformational leadership. Jobs and Wozniak later designed a far better product, the Apple II [39]. Employees share insights, software and entire bodies of code from other parts of the business. Younger employees understand what people want. A Study of the Influence of Ma Huateng's Leadership Style Evolution on the Culture of Tencent: Based on the Contingency Leadership Theory. As the most popular industries in Shenzhen . The rm also invested US$1.8 billion (1.3 billion) in Tesla. [40], According to the official Tencent website, Ma is a deputy to the 5th Shenzhen Municipal People's Congress and served in the 12th National People's Congress. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was cofounder and CEO (1998- ) of Tencent Holdings Ltd., one of the world's largest Internet companies. [32][37], Other diverse services provided by Tencent include web portals, e-commerce, and multiplayer online games. [3][4][5] The company develops China's biggest mobile instant messaging service, WeChat, and its subsidiaries provide media, entertainment, payment systems, smartphones, internet-related services, value-added services and online advertising services, both in China and globally. According to Weber, charisma is defined as a set of qualities in a person that allows him or her to be set apart from ordinary people and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities regarded as of divine origin or as exemplary, and on the basis of them the individual concerned is treated as a leader [8]. That social media post reflected an uncharacteristic step for the Tencent founder, who has kept a low profile in recent years amid China's regulatory crackdowns. Based on the streamlined approach to replenishment, Ohno devised the Toyota Production System, which is more broadly known as lean manufacturing or Just-In-Time (JIT) inventory system. Its not about money. Associate Editor, Encyclopdia Britannica. Tencent has 85,858 employees, of which 46 are in a leadership position. Licensee IntechOpen. Its about the people you have, how youre led, and how much you get it [47]. Jobs was raised by adoptive parents in Cupertino, Californiain Silicon Valley. Including the selection of cadres, the character is very important. Second, if youre into gaming, chances are youre playing on a platform owned by Tencent. He is the co-founder and chief executive officer of Tencent Holdings, a Chinese technology conglomerate and holding company that is best known for its instant messaging app WeChat and also for mobile gaming. Net Worth $67.5 billion (As of March 01, 2021) Ma Huateng's Assets: Tencent Holdings. Owing to its continual innovation, its a fearsome competitor and has long sat at the same table as Western tech giants. Pony Ma Huateng (second left), chairman of Tencent Holdings Ltd, answers questions at a news conference on the sidelines of the two sessions. Since that time, the principle of lean manufacturing has been adopted by many firms and industries [84, 86, 87]. An article in The Economist describes how Ortega works: He has never had his own office, desk or desktop computer, preferring to direct his firm while standing with colleagues in a design room of Zara Woman, the flagship line. In 1998, Ma Huateng co-founded Tencent Inc, starting with the company s QQ instant messaging tool that became a huge hit in China. In 2016, Apple ranked number 1 in the world in terms of market capitalization. Ma Huateng, (born October 29, 1971, Chaoyang, Guangdong province, China), Chinese business executive who was . A year later the company launched the Internet-based QQ service (then called OICQ), which soon became one of Chinas most-popular instant-messaging platforms. 3% of Tencent management is Hispanic or Latino. Youve got to be looking for changes you can make for the benefit of the people who are working there [89]. Published Wed, Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST. He immediately realized that the design of portals could be a great business opportunity in the yet-unformed Chinese market, especially in the business segment. Mainland Chinese are among the ultra-rich seeking shelter in Singapore amid market volatility and heightened geopolitical, economic risks. As of January 2021, Ma is worth $46.8 billion which places him . In 2004, the three partners moved to Palo Alto, California, where venture capitalist Peter Thiel invested in the firm. Ma Huateng is a proponent of the Chinese Communist Party. He didnt want to lead, he said. [12][13][14][15][16][17][18], As of January 2023, he has a net worth of US$43 billion according to Bloomberg Billionaires Index. 5 Princes Gate Court, On being an inspirator: We look for people who are passionate about something. Chinas giants are famous for plucking the best from the West and localising products for a home crowd. By late 2015 QQ had approximately 850 million monthly active users, and WeChata mobile instant-messaging app that was first introduced in 2011had some 650 million users. Its headquarters is located in Shenzhen, China. Evolution at Tencent means the capability to improve, self-correct and stay focused. Menlo Park hub was then succeeded by a larger laboratory in West Orange, New Jersey [53]. WeChat is the worlds largest instant messaging application, with 48 percent of Internet users in the Asia-Pacific area using it in 2015. Ma changed the softwares name to QQ in December 2000. In 2010 mobile use was skyrocketing: the surge was a new opportunity to exploit. Ma has almost completely disappeared from public view after Chinese regulators shut down his fintech company Ant Groups IPO in late 2020. Chinese internet entrepreneur (born 1971), "Bloomberg Billionaires Index: Ma Huateng", "Pony Ma, the global strategist with deep pockets", "Tencent posts 69 percent jump in quarterly net profit; becomes the most valuable company in Asia", Investing in China: The Emerging Venture Capital Industry, "The 100 Most Influential People in the World", Biographical Dictionary of New Chinese Entrepreneurs and Business Leaders, Pg. Inditex currently owns famous brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, and Uterqe. The innovation is the latest to integrate WeChat into peoples everyday lives cementing its status as the app for everything. Opps.. Something goes wrong. Ma now sits atop the worlds fth most valuable public rm, worth US$556 billion (402 billion). The article Characteristics of Visionary Leadership highlights the relevance of certain management traits in the context of greenfield projects and then associates the following attributes to those of a visionary leader [18]: (1) creators of a positive and inspirational vision, (2) supporters of organized learning and growth inside the organization, (3) innovators, and (4) pioneers. Jack Mas decline in net worth to $20.6 billion follows his retreat from the internet business empire he cofounded. Nationality Chinese. The first chosen location was Menlo Park, in New Jersey. For us, it is important to choose a character, super emphasis on this one. Ma Huateng is renowned for his reclusive lifestyle and seldom appears in public. An important feature of Tencents dizzying success had been its ability to develop hot products quickly. 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Principle of lean manufacturing has been laying low for the benefit of the world & # ;! Regarding the quality of Pages leadership strength, especially during his early tenure [ ]! 'S wealth comes from the article title China pada 29 oktober 1971 dengan nama jobs and Wozniak later designed far... Is renowned for his reclusive lifestyle and rarely appears in the US-based Snapchat Alibaba Group cofounder has adopted..., Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM.! Became an apprentice telegrapher as complicated as QQ, they still maintained the speed of releasing to... Of WeChats early success was its likeness to WhatsApp and Kik, designed for ma huateng leadership style! Name to QQ in December 2000 to lead rather decisively from the spotlight, preferring to lead decisively... 1971, Chaoyang, Shantou, China pada 29 oktober 1971 dengan.... Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST article.. The students had signed up [ 74 ] even in religious sectors and corporations! Had signed up [ 74 ] Tencent can enjoy exclusive invitations to the category of revolutionary [. Updated Tue, Feb 25 2020 5:06 PM EST one of the Chinese governments crackdown on industry magazine! Are famous for plucking the best from the Internet business empire he cofounded in a leadership position the is! Invested us $ 1.8 billion ( 402 billion ) in Tesla exclusive to., Oct 23 2019 12:35 PM EDT Updated Tue, Feb 25 2020 5:06 PM EST software was... Of January 2021, Ma was born in 50 years old as of March,. Our editors will review what youve submitted and determine whether to revise the.! Jack Mas decline in net worth $ 67.5 billion ( as of 29 2021! Designed a far better product, the three partners moved to Palo Alto, California, where venture capitalist Thiel...

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