Date
26 September 2017
Jack Ma is a sad billionaire compared with  the Chinese middle class. Know what will make him happy? Photo: CNSA
Jack Ma is a sad billionaire compared with the Chinese middle class. Know what will make him happy? Photo: CNSA

Here’s how you can be a billionaire and make Jack Ma happy

Alibaba Group founder and chairman Jack Ma says China’s happiest people are the middle class, or those making 20,000 yuan (US$2,994) to 40,000 yuan a month.

Ma said the Chinese middle class likely have a “little house”, a car and a kind of family life that adds up to a happy life, Metro Daily reports.

“There’s nothing happier than that,” he told a staff meeting.

Ma said people can enjoy their money if it does not exceed a million yuan.

Beyond that, and once it hits 10 million yuan (US$1.5 million), they face all sorts of challenges, Ma is quoted saying by Apple Daily Taiwan.

That’s when they have to deal with major decisions about where to invest the money — stocks, bonds or real estate, etc.

Above 20 million yuan, the wealth brings more headaches.

After one billion yuan, people lose control of their fortunes — they merely look after the money for society, he said.

It stops being their personal wealth.

In reply to an employee, Ma said he does not want to become the world’s richest person and he is not pursuing that goal.

Which is why he sold down his Alibaba stake, the main source of his wealth.

Also, Ma lamented the passage of time, saying he feels every second has become even more precious.

In contrast, he always wanted to sell someone two years of his life when he was younger, feeling he had too much time on his hands, he said.

Ma is the wealthiest person in China, with a fortune estimated at 200 billion yuan.

Many netizens have joked that they would rather have the “troubles” Jack Ma is having.

Or they could take his wealth and just pay him 40,000 yuan a month if that would make him happy.

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