Alibaba Group Holdings Ltd (NYSE:BABA)’s Jack Ma is On CNBC right now. “I want our shareholders to make money” says Jack Ma. When asked about whether Alibaba Group Holdings Ltd (NYSE:BABA) has any American companies in its shopping list, Jack Ma said there are a lot of companies that he’d like to learn from but he didn’t name any names. Later on we found out that Jack Ma was talking about Wal-Mart Stores, Inc. (NYSE:WMT). Jim Cramer asked Jack Ma about the Chinese consumers. Jack Ma said that Chinese consumers are doing much better than what is perceived from America and they are helping that.
The most critical question of the interview came from David Faber: “$300 billion in gross merchandise value, how big can Alibaba Group Holdings Ltd (NYSE:BABA) become?”
Here is what Jack Ma said:
“Well we have a dream which probably I am not about to say, but I think we value that China chnaged because of us in the past 15 years. We hope in the next 15 years the World will change becuase of us. We wanna be bigger than Wal-Mart Stores, Inc. (NYSE:WMT), we wanna be bigger. It’s not the size, we wanna learn from Wal-Mart. They changed the business last century, they changes P2C. We hope 15 years later they say this is the company like Microsoft, like IBM, like Wal-Mart Stores, Inc. (NYSE:WMT), they changed the World.”
Carl Quintanilla told jack Ma that his wealth will be larger than Estonia’s GDP and asked what he will do with all this money. Jack Ma told the following story:
“Fourteen years ago, I asked my wife ‘do you want your husband be a rich man or a respected business guy? she said of course a respected business person because she never thought I will be a rich person”
We will update this post when CNBC uploads Alibaba Group Holdings Ltd (NYSE:BABA)’s Jack Ma interview video to its site.
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