Jack Ma Says You Need A Good Boss Before 30, But Once You Turn 50 You Need To Take A Different Approach To Life: Here's What The Alibaba-Founder Meant

Jack Ma, the billionaire founder of Alibaba Group Holdings BABA, once offered a heartfelt roadmap for life, urging young people to embrace mistakes and older professionals to pass the torch.

What Happened: In a candid talk, Ma outlined how people should approach their careers based on age, underscoring the importance of mentorship, experience and personal fulfillment.

Before 30 years old, it's not which company you go to, it's which boss you follow, Ma said, adding, “Before 30 years old, it’s not which company you go [to], it’s which boss you follow. It’s very important, a good boss teaches you differently.”

He advised people in their 20s to be good students and embrace failure as growth. "Any mistake is an income, is a wonderful revenue for you," he said.

"Make enough mistakes. Don't worry, you fall, you stand up," he stated and then telling young people to "enjoy the show."

Between the ages of 30 and 40, Ma recommended thinking clearly about whether you’re working for yourself. From 40 to 50, he urged people to focus on what they're already good at rather than trying something entirely new.

After 50, Ma suggested shifting gears. “Work for the young people because young people can do better than you. So rely on them, invest on them, making sure they’re good.”

And once you hit 60? "Spend time for yourself," he said.

During the conversation, Ma also admitted regrets, including sacrificing time with family and losing privacy to public life. "If I have another life, I would never do things like this," he said.

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Why It's Important: According to Bloomberg's Billionaire Index, Ma currently has a net worth of $39.3 billion.

Born in 1964 in Hangzhou, China, Ma began his journey as a self-taught English speaker who offered free tours to foreign visitors. After failing the college entrance exam twice, he graduated from Hangzhou Teachers College and worked as an English teacher, earning $15 a month.

His exposure to the internet came during a trip to the U.S. in 1995, leading him to create China Pages, a web service for small businesses. He later founded Alibaba.com in 1999 with $60,000 and 17 co-founders.

A major deal in 2005 with Yahoo saw the U.S. company take a 40% stake in Alibaba for $1 billion, but tensions grew after Ma spun off Alipay in 2011 without Yahoo’s approval.

The dispute was settled, and in 2012, Ma agreed to buy back part of Yahoo's stake for $7.1 billion. Alibaba's IPO in 2014 became the world's largest.

Despite his success, Ma expressed a desire to return to teaching. He stepped down as CEO in 2013 and as chairman in 2019.

Benzinga’s Edge Stock Rankings show BABA trending downward in the short and medium term, but gaining momentum over the long term. More detailed performance data can be found here.