Founder and Executive chairman, Alibaba Group
2nd Richest man in China
Net Worth: $28.5 Billion
Founder and Chairman of e-commerce behemoth Alibaba, Jack Ma grew up poor in communist China. He failed his college entrance exam twice. He got into Hangzhou Teacher’s Institute after passing the test on the third try. After graduating in 1988, Ma was rejected from dozens of jobs, including one at KFC, before he got hired as an English teacher. Ma was introduced to the internet in 1995, during his first visit to the US. While online shopping, no Chinese products turned up in the results. This is when he decided to launch a website for Chinese products. After two of his ventures failed, he gathered his friends and convinced them to invest in an online marketplace that will allow exporters to post product listings that customers could directly buy. The website soon started to attract members and investors from all over the world. The company raised $5 million from Gold Sachs and $20 million from SoftBank by October 1999. The company launched retail website Taobao in 2003 to compete with EBay in China. Ma was unfazed about going up against the US giant, famously saying, "Ebay is a shark in the ocean. We are a crocodile in the Yangtze River. If we fight in the ocean, we will lose. But if we fight in the river, we will win." Ebay shuttered its China site in 2006, a major victory for Ma. Yahoo invested $1 billion in Alibaba in exchange for about a 40% stake in the company in 2005. In 2013, Ma stepped down from his post as the CEO of the company and stayed as the executive chairman. In 2014, in what turned out to be the largest initial public offering to date, Ma and his team successfully raised in excess of USD 20 billion for Alibaba by listing it in the NYSE stock exchange in the United States. That made Alibaba, a 15 years old e-commerce company that has its origins outside of the US, one of world's largest companies as measured by its market capitalization that was approximately USD 200 billion. Ma married Zhang Ying, whom he met at school, after they graduated in the late 80’s. They have two children; a daughter and a son. The IPO may have made Ma an extremely wealthy man, but he hasn't made any flashy purchases (yet), and he still has some pretty modest hobbies. He likes reading and writing kung fu fiction, playing poker, meditating, and practicing tai chi. He has even teamed up with Jet Li to spread awareness of tai chi, and he brings a trainer along with him when he travels. Jack Ma’s story is the true rags-to-riches story, making him recognised as one of the most powerful and inspirational man alive.
These islands were named after Captain James Cook, although they were discovered almost 200 years before he visited them in the late 18th century. They were administered by New Zealand from 1901-65, when they became a self-governing dependency. The basis of the islands’ flag is the Blue Ensign, emphasising indirectly their links with the Commonwealth through New Zealand. In the fly is a ring of 15 five pointed stars, representing the 15 islands in the group. The choice of stars as a design feature is something which the Cook Islands have in common with other Pacific island countries. The flag has been in use since 1979.
The History of Money
9000 BC: Early man would barter goods they had in surplus for one they lacked.
1100 BC: In China, people started using small replicas of goods cast from bronze.
600 BC: The first official currency was minted by King Alyattes of Lydia in modern day Turkey.
1000: Paper money first made its way into market place during the Tang Dynasty in China.
1290: The travels of Marco Polo to China introduced the idea of paper money to Europe.
1661: First bank notes were printed in Sweden.
1860: Industry giants, Western Union, spearheaded e-money with electronic fund transfer via telegram.
1946: John Boggins invented the first credit card, the ‘Charg-It’ card.
1999: European banks began offering mobile banking with primitive smart phones.
2008: Contactless payment cards were issued in the UK for the first time.
2014: With a constant demand for ways to ensure business can trade easily, new innovations are constantly being introduced and refined.
1. In which year was the first-ever official Test played?
2. Who took the first hat-trick in the history of Test cricket?
3. At which ground was the timeless Test played in 1939?
4. When was the first-ever ODI game played?
5. Who won the Ashes Series in 2005?
6. Which king declared cricket illegal in 1477?
7. What are standard cricket bats made of?
8. Who was the first batsman in the history of ODIs to be given out by third umpire?
9. In which year, the overs of the ICC World Cup matches were reduced to 50 from 60?
10. When was the first Day-Night match in ICC World Cup played?
Last week’s answers:
1. Nos Animadverto Totus
2. Snow Globes
4. Missy Franklin
6. 901 Free At Last
8. Mary Queen of Scots
9. Hollis College
10. Radley Sanitarium
11. The Bad Seed
12. Russian history
15. Caria Grunwald