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Joe turned his $600 annual salary into a $600 billion empire.
Here's the crazy story
Here's the crazy story
Joe Tsai was born in January 1964 in Taipei, Taiwan.
His Dad was a lawyer and the 1st Taiwanese person to receive a degree from Yale Law.
His Dad was a lawyer and the 1st Taiwanese person to receive a degree from Yale Law.
His family leaves Taiwan and he enrolls at a US boarding school called Lawrenceville.
He goes to Yale undergrad and then earns a Yale Law degree.
He goes to Yale undergrad and then earns a Yale Law degree.
His early career:
• works at law firm Sullivan & Cromwell
• joins private equity firm Rosecliff Inc
In 1995, Joe moves to Hong Kong to join a Swedish investment firm called Investor AB.
• works at law firm Sullivan & Cromwell
• joins private equity firm Rosecliff Inc
In 1995, Joe moves to Hong Kong to join a Swedish investment firm called Investor AB.
For 4 years, Joe led Asian investments and is making $800,000 per year.
He's 28 years old and seems to have everything planned out.
He's 28 years old and seems to have everything planned out.
In May 1999, Joe's friend reaches out to him.
"Joe, you have to meet this guy in Hangzhou (China).
He's kind of crazy, but..."
"Joe, you have to meet this guy in Hangzhou (China).
He's kind of crazy, but..."
So Joe jumps on a plane to China to meet with this guy.
His name is Jack Ma.
Joe quickly realizes that Ma only had a side project.
No incorporation.
No funding.
Just a website called Alibaba.
His name is Jack Ma.
Joe quickly realizes that Ma only had a side project.
No incorporation.
No funding.
Just a website called Alibaba.
He had built one of China's first ever English websites.
It was a glorified online bulletin board for import and exports.
It was a glorified online bulletin board for import and exports.
But Joe is still immediately impressed by Ma's personality.
Oozing charisma.
A big vision.
Jack Ma pitches him,
"Ok, we have these millions of Chinese factories.
How do I help them to get exposure to the Western world?"
Oozing charisma.
A big vision.
Jack Ma pitches him,
"Ok, we have these millions of Chinese factories.
How do I help them to get exposure to the Western world?"
Joe thought it was a good idea.
But nothing that innovative...
It was basically putting a bunch of Chinese factories online.
But nothing that innovative...
It was basically putting a bunch of Chinese factories online.
At this point, Jack Ma was teaching English.
16 of his these students had already joined him to work on Alibaba.
They were cramped in 1 apartment with 0 revenue.
16 of his these students had already joined him to work on Alibaba.
They were cramped in 1 apartment with 0 revenue.
After the meeting, Tsai thought to himself:
"Wow, this is a guy who can really get people together.
He's a great leader. He can really build something.”
A leader that can mobilize is a force to be reckoned with.
"Wow, this is a guy who can really get people together.
He's a great leader. He can really build something.”
A leader that can mobilize is a force to be reckoned with.
Joe quits his $800,000 per year job to join this business with 0 revenue and 28,000 users.
His first salary at Alibaba?
$600 per YEAR.
His first salary at Alibaba?
$600 per YEAR.
He was the first person outside of China to join the team.
And Joe's background as a lawyer came in handy.
His first jobs:
Incorporate Alibaba and raise money.
And Joe's background as a lawyer came in handy.
His first jobs:
Incorporate Alibaba and raise money.
Over the next 20 years, Alibaba became one of the largest companies in the world:
• $600 billion valuation
• $100+ billion revenue
• 750 million total users
Joe acted as CFO, COO, and now Executive Vice Chairman.
• $600 billion valuation
• $100+ billion revenue
• 750 million total users
Joe acted as CFO, COO, and now Executive Vice Chairman.
Fun Fact: @joetsai1999 and I are both Yale lacrosse alums
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