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Li is definitely not nouveau riche. One of the reasons he is respected and loved by the people, especially the Chinese, is his inspirational self-made success despite the turbulent times he was born in, and his humility and generosity despite his massive wealth.

After rejecting and also being rejected by 38 capitalists and investors, Alibaba finally raised USD5 million from Goldman Sachs in August 1999, followed by USD20 million from Softbank Corporation in the first quarter of 2000. With these funds, Alibaba became the world’s largest online trading market ever in no time.