EXPLOREMY LIBRARY
Business & Finance
Forbes Asia

Forbes Asia December 2019

Forbes Asia chronicles entrepreneurs, executives and companies throughout Asia.

Country:
United States
Language:
English
Publisher:
Forbes Media LLC
Frequency:
Monthly
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13 Issues

in this issue

2 min.
full circle

It’s rare to cross paths with one of the world’s great entrepreneurial heroes not once but twice, both at pivotal moments in that entrepreneur’s journey. Such is the case with Jack Ma, the founder of Alibaba. Forbes Global, the precursor magazine to Forbes Asia, had Ma on the cover of its July 24, 2000 issue, with the cover line: “Fighting for Eyeballs” (and written by this editor). Thus Forbes Global become the first major business magazine in the world to put Ma on its cover. In the first paragraph of that article, Ma is quoted as saying “Our vision for Alibaba is to become one of the top ten websites, not just in China but the world. Period!” It was a fateful prediction. What’s remarkable is that Alibaba had about 150…

3 min.
follow the (smart) money

I have a Silicon Valley friend, Andy Kessler, with a storied history in technology investment. He was a top-rated semiconductor analyst for Morgan Stanley in the 1980s. In the 1990s he started Velocity Capital Management, a hedge fund that invested in public and private tech companies. Velocity was named one of the top five hedge funds of 1998 by Barron’s magazine. In 1999, Kessler began to unwind the fund. He shut it down as tech stocks crashed. How did he know? “Saudi investors,” he told me. After the Barron’s story, rich people and institutions pestered Kessler to invest in Velocity. Pension funds. Corporate treasurers. Saudi princes. “Dumb money,” Kessler explained. Not dumb people, but as investors, they were late to the tech party and knew little about tech, except that it…

3 min.
recession by stealth

Generals are always fighting the last war. It’s not that different when it comes to fighting economic downturns. Since the global financial crisis a decade ago, we have been scouring the horizon for any signs of financial fragility, such as asset bubbles, that could plunge us into the next global recession. Despite mounting evidence of a weakening economy, there are no asset bubbles comparable to that of the pre-2008 period. And we won’t find any, even as we edge closer to the next recession. Since the last global financial crisis, the global economy has been reshaped by different forces, and the coming recession will be caused by factors totally different from those of the last one. First off, the global economy today is mired in uncertainty arising from the trade war,…

6 min.
waking up kindness

“People say I am one of the richest people in China, but I don’t think it is my money,” says Jack Ma. “It is money that people have entrusted to you, and you want to spend it in a better, smarter way.” Ma is explaining his new focus, philanthropy, in an exclusive interview with Forbes Asia in October. Having spent the last two decades building Alibaba Group, the Hangzhou, China-based internet giant, Ma announced just over a year ago he would step aside and give his executive chairman title to Alibaba CEO Daniel Zhang. “I will devote more time and effort to education, philanthropy and the environment,” he wrote in an open letter to shareholders (and the world). It was a transition that Ma had planned for a decade. “When Alibaba…

1 min.
a world of worthy causes

SOURCE: ALIBABA GROUP CHINA RURAL EDUCATION IN CHINA A ten-year program to help train headmasters and educational leaders in rural China. FUNDING: $30 MILLION 2016 CHINA TEACHER TALENT IN CHINA A ten-year program to train and develop teachers in rural China. FUNDING: $45 MILLION AUSTRALIA MA & MORLEY SCHOLARSHIP, UNIVERSITY OF NEWCASTLE The scholarship is named after Newcastle resident Australian Ken Morley (who died in 2004). Ma first met Morley in 1980 in Hangzhou, and they had a decades-long friendship. The scholarship helps 20 students each year with expenses, while another 10 get a 12-day immersion program in China. FUNDING: $20 MILLION 2017 AFRICA AFRICA NETPRENEUR PRIZE INITIATIVE A total of 100 African entrepreneurs with receive $100 million over ten years. Nigerian medical supply startup LifeBank won the top prize among ten contestants in an award ceremony held in November. FUNDING: $100 MILLION MIDDLEEAST QUEEN RANIA FOUNDATION Run by Jordan’s Queen…

22 min.
catalysts for change

Azim Premji made history this year as Asia’s most generous philanthropist by donating $7.6 billion worth of Wipro shares to his education-centered foundation, raising his total lifetime giving to $21 billion. Established in 2000, his eponymous foundation now works with more than 200,000 public schools across India to train teachers and provide better curriculums, among other initiatives. “A role model for all of us. I wish more people would follow his example,” said Anu Aga (a 2010 honoree). Premji is one of the 30 outstanding altruists we’ve chosen for our 13th annual Heroes of Philanthropy list which honors billionaires, entrepreneurs and celebrities across the region who are committed to solving some of the most pressing issues facing the Asia-Pacific. This year’s members are devoted to a range of endeavors. Among them: Angel…