Thai Sung Tin (1964) is a Taiwanese, comes from a family with a tradition of working as a lawyer.
Influenced by family tradition, at the ag.e of 13, Thai Sung Tin studied abroad at Yale University (USA) and received a master's degree in economics and a doctorate in law. After graduating, he went to New York to work at the law firm Sullivan & Cromwell for 3 years.
"Unanimously in love" with Jack Ma
Soon after, he went to Hong Kong to work as the director of the Asia business of Investor AB with a salary of 700,000 USD (more than 15.9 billion VND). In 1996, he married Ms. Ngo Minh Hoa (Clara Wu Tsai) - niece of Mr. Ngo Tam Lien (founder of Tainan Bang commercial empire in Taiwan). In 1999, Thai Sung Tin first met Jack Ma through the introduction of a friend. At this time, Jack Ma had gone through 3 times of creating a career but not much success. Because of his unwillingness, Jack Ma decided to return to China to build a career for the 4th time with the goal of establishing an e-commerce service called Alibaba.
Thai Sung Tin was fascinated by Jack Ma's special business qualities in the first meeting. However, at this time, the company has not been registered, but only a team of more than 20 people is completing Alibaba.com. Thai Sung Tin advises Jack Ma to set up a company, accepting to stand shoulder to shoulder with you with an impossibly low salary. After leaving Investor AB, Thai Sung Tin joined Alibaba and held the position of chief financial officer (CFO). Since then, both his and Jack Ma's fortunes changed.
Jack Ma's "Man" and Alibaba's "God of Wealth"
After joining Alibaba, Thai Sung Tin helped Jack Ma do two things: First, set up Alibaba's structure to become a modern company in line with international standards, including registering the company with the Ministry of Industry and Trade. Trade and reorganize all personnel. Here, Thai Sung Tin consulted the company structure of 3 big guys: Sina, Sohu and NetEase. Accordingly, he established Alibaba according to the model of an overseas parent company controlling shares in a subsidiary in China. In which, the parent company is registered in the Cayman Islands (overseas territory of the United Kingdom and Northern Ireland) and the subsidiary is registered in Hangzhou and Hong Kong.
Thai Sung Tin divided shares and distributed them to 18 other shareholders, including him and Jack Ma. He began to teach employees how a company is best run to reach a common voice, reducing internal conflicts. When Alibaba had basic foreign investment sources, Thai Chong Tin continued to help Jack Ma do a second thing. Before Thai Sung Tin joined Alibaba, Jack Ma tried to call for investment 37 times but never succeeded because people did not trust him. Alibaba is in danger of shutting down.
In August 1999, Thai Sung Tin appeared as the hope star of the whole Alibaba. Tsai has led a friend of his (an investment director at Goldman Sachs in Hong Kong who is also looking for investment opportunities in China's domestic electronics industry) to invest in Alibaba.
By October 1999, Alibaba was invested 5 million USD (more than 113 billion VND), including the investment source of Investor AB (the previous workplace of Thai Sung Tin). After that, Son Masayoshi - chairman of Japanese telecommunications group SoftBank decided to invest in Alibaba. In January 2000, Son Masayoshi invested 30 million USD (more than 682 billion VND) in exchange for a 40% stake. Thai Sung Tin protested because Alibaba is not short of mone.y at the moment and this new investment attraction will cause dissatisfaction of Golden Sachs and other shareholders. Jack Ma is still determined to receive investment capital from SoftBank. In the en.d, Thai Sung Tin came up with a compromise plan: Accepting SoftBank's investment but limiting capital and control. Accordingly, Son Masayoshi has successfully poured capital into Alibaba with 20 million USD (more than 454 billion VND) and 30% stake, but the control still belongs to the previous senior management of Alibaba. In 2004, Thai Sung Tin successfully called for Alibaba a huge investment capital of up to 82 million USD (more than 1.86 trillion VND) used to promote the strong development of Taobao.
Thanks to this investment, Taobao officially beat eBay and became a milestone marking the development of Taobao beyond the international reach later. In addition to helping Alibaba call for investment capital, Thai Sung Tin also succeeded twice (2007 in Hong Kong and 2014 in New York) to put Alibaba on the stock exchange.
After going public in the US, Alibaba became a leader in international trade. Jack Ma is on the list of China's richest billionaires. Thai Sung Tin is known by the media as "the man behind Jack Ma". In terms of work, Thai Sung Tin is in charge of all finance and investment of Alibaba, or rather, "keeping money" and "spending money" of the hundred billion dollar empire.
Live life to the fullest with a passion for basketball and own a huge fortune
In 2017, Thai Sung Tin bought a 49% stake in the Brooklyn Nets basketball team. In 2019, he bought all the remaining shares and the right to operate the Barclay Center for 3 billion USD (68.2 trillion VND).
Ngo Minh Hoa, wife of Thai Sung Tin, is a co-owner of the New York Liberty club at the US Women's National Basketball Association (WNBA), the San Diego Seals team plays in the American lacrosse tournament. Thai Sung Tin is holding the position of Vice Chairman and the second largest shareholder of Alibaba, owning a fortune of more than 12 billion USD (more than 272 trillion VND). According to the New York Post, Thai Sung Tin owns a villa in Hong Kong, a land on the California coast next to a newly purchased apartment belonging to Billionaires'Row in New York. Recently, Thai Sung Tin spent 157 million USD (more than 3.5 trillion VND) to buy 2 apartments at 220 Central Park South, the most expensive apartment building in Manhattan, New York (USA) in June. The apartment includes 2 floors, with sweeping views of downtown Manhattan.
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