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the previous year. It claims to be the largest retailer in
the world – as measured by gross merchandise volume
(GMV) on its China retail marketplaces – surpassing
Walmart in 2016.
But Ma’s mantra is to “always think about the
future”, and he has already set about working towards
Alibaba’s long-term strategic goal of serving two billion
customers. He’s known to clock over 800 hours of
flying time per year, building up the brand’s global
presence. This includes a push into South East Asia
through the control of established ecommerce
platforms and investments in a slew of American
start-ups.
“Alibaba doesn’t see itself as a competitor to
companies like Amazon,” says Andy Mok. “Instead, it
wants to empower others to become like Amazon.”THE ROAD AHEAD
Ma isn’t about to get complacent, predicting the next
30 years will be more difficult than the past. In a recent
interview with CNBC he said adapting to artificial
technology, shorter working hours and more travel
posed real challenges for businesses. “When we see
something is coming, we have to prepare now. My
belief is that you have to repair the roof while it is still
functioning,” said Ma. Still, the business leader is
optimistic about the future. “Though it will be painful,there will be an overall improvement in people’s lives.
New technology is not being developed to make you
jobless, but to allow you to do more meaningful things
and eliminate repetitive tasks.”
A more immediate hurdle lies ahead for Alibaba.
The company remains plagued by criticism that much
of the products sold by their sites are counterfeit – bad
news for a worldwide trader that relies on trust and
partnerships with big brands. During an interview at a
business summit in the US last June, Ma acknowledged
the problem, calling fake goods the “cancer” of
Alibaba. But it’s an issue the company is trying to
minimise, hiring detectives and using artificial
intelligence to prosecute problem sellers.GENEROSITY COMES FULL CIRCLE
But Ma’s mark on history may not come from the
money he earns or the businesses he spawns. Far from
the ringing buzz of commerce and publicity-driven
dance numbers, the billionaire businessman who was
born poor has vowed to give much of his wealth away.
Donations have flowed to health, environmental and
educational causes. At the end of last year, Alibaba
pledged US$1.5 billion to China’s ambitious poverty
alleviation campaign.
And those closest to him, who believed in him
when the world did not, are also reaping benefits they
never sought. Last year, he announced a US$20 million
fund to set up the ‘Ma and Morley Scholarship
Program’ at the University of Newcastle in New South
Wales in honour of his “Australian family” and as a
tribute to Ken Morley.
“We’re all so proud,” says David Morley. “It’s
phenomenal what he’s achieved. Just one person and
his vision.”“ WHEN WE SEE
SOMETHING
COMING WE HAVE
TO PREPARE NOW.”
Cover story