Ma Yun said that he is most grateful to three people in his life:
One is Jerry Yang. In the cold winter of the Internet in 2005, he generously donated $1 billion to help him get through the difficulties;
This is all a favor exchanged for real money and silver, and the power of capital is indispensable.
Another was Jin Yong, his spiritual mentor.
Ma Yun said: If there is no Mr. Jin Yong, there may be no my company.
The last one was Cai Chongxin, who helped him integrate the brotherhood of righteousness into a regular partnership company to lay the foundation for development and growth.
(Cai Chongxin)
In 1999, Ma Yun's fourth entrepreneurial year, he was poor and white, and 17 people came to nestle in his home to tinker with web pages;
At this time, Yang Zhiyuan was 31 years old, and he was also young and promising, and the company's market value was as high as 39 billion US dollars;
As for Mr. Jin Yong, he was appointed as the first dean of the School of Humanities of Zhejiang University that year, and he became famous.
These two people are busy with their own affairs, there is no time to take care of Ma Yun, only Cai Chongxin "send people's heads in a thousand miles".
Giving up the position of president with an annual salary of one million abroad, he ran to clamor for a job for Ma Yun.
Whether Cai Chongxin was impulsive and wanted to find a small place to play, or whether he was a prophet and guessed that Ma Yun would succeed in the future, no one knew.
Anyway, he just came.
1964 was just an ordinary year for most people, but for Ma Yun and Cai Chongxin, it was a year of life and death.
Because of this year, they were reincarnated as human beings, one born in Zhejiang and the other in Taiwan.
Except for the same age, the two have almost nothing to do with each other from family background, education and personality.
The famous investor Jim Rogers bluntly said: The duo can be so successful in the future, probably because their personalities are so different.
Tsai Chongxin's father, Tsai Chung-tseng, was the first student in Taiwan to graduate from Yale Law School that year.
Grandfather Cai Liusheng was even more incredible, and once did legal advice for powerful people.
The father and son co-founded Taiwan's first law firm and belong to the elders of the local legal profession.
Cai Chongxin was born in such a prominent family, and from an early age, he learned some legal and financial things.
At the age of 13, Tsai Chongxin studied alone in the United States, attending an elite boarding middle school.
From the language barrier when he first arrived in a foreign country to the talkative conversation when he graduated, Cai Chongxin not only spoke fluent American, but also became an athlete on the court.
Unlike the modest sportswear of ordinary people, he is always accustomed to wearing a pink triangle logo on his chest to express his support for some special groups of people.
When some of his teammates laughed at him, Tsai simply responded: "This is something that should be done." ”
Excellent learning, good health, three views are still correct, Cai Chongxin has been "someone else's child" since he was a child, a gifted player.
(Cai Chongxin and father Cai Zhongzeng)
After that, he followed in his father's footsteps and was admitted to Yale University School of Economics and Law.
While earning bachelor's and doctoral degrees, the love of sports continues unabated.
According to his college alumni, "I know exactly what he put into the sports field every day, and he was always doing what he thought was right." ”
Cai Chongxin himself said: "The reason why I am doing well in my career is because I am involved in sports, and I am an athlete myself." ”
Therefore, when he achieved the freedom of wealth, it is not surprising that he "spent money like dirt" in the field of sports.
The perseverance of athletes, coupled with the persistence of leaders, these two qualities have become his ability advantages, allowing him to soar repeatedly on the road to success, step by step to a high position, to Ma Yun's side.
In 1990, after graduating from Yale, Cai Chongxin entered a professional law firm and engaged in tax work for three years.
He then moved on to vice president and legal counsel for an M&A firm in New York.
It was not until 1995 that he again joined the Nordic company as vice president and senior investment manager.
Cai Chongxin's successive gorgeous turns, in just 9 years, from the bottom of the industry to the small lawyer.
The gradual transition to high-level decision-makers is staggering, and the strength is indeed not to be underestimated.
Before meeting Ma Yun, Cai Chongxin had already taken an annual salary of 700,000 US dollars, and Wu Minghua was happily married, and his career and love were double harvested, and he embarked on the peak of his life.
The money in his hand was enough to buy more than a dozen companies that Ma Yun was in at that time.
At this time, Teacher Ma, still living in a community house in Hangzhou with eighteen arhats, shouted to "start a great company" while not even paying the employees' salaries of 500 yuan.
The turning point of the two men's fates took place in the first half of 1999.
Ma Yun raised money everywhere and "fooled" when he saw people; Cai Chongxin was appointed by the company to understand investment projects everywhere.
The electric flint is about to explode, and a fireman is needed in the middle.
The friend who received Cai Chongxin's trip to the mainland told him that there is a Ma Yun who is very out of the circle and very special, that is, people are a bit crazy, do you want to meet?
Therefore, Cai Chongxin came to Hangzhou and met Ma Yun for the first time with the name of "Wind Qingyang".
In Jin Yong's pen, the Huashan Sect master is qingyang, and he can also be regarded as a dashing man with a good manner.
And Ma Yun in front of Cai Chongxin's eyes, the bones are clear, it is inconvenient to look at, and it is impossible to see the depth of kung fu.
Ma Yun also knows that his appearance is chicken ribs, when he first appeared on the American "Forbes" magazine, when he saw himself on the cover, he also sighed "I know how ugly I am." ”
What's more, when Ma Yun passionately took him to the office for a visit, Cai Chongxin was not good at all.
Saying that it is an office, in fact, it is Ma Yun's own home, a few desks and a few computers, is their professional office equipment.
The floor was littered with sheets and paper lunch boxes.
Although it cannot be said to be a garbage dump, it is only a matter of scale, and the degree of dirty chaos still has to be fought.
What is even more frightening is that this group of people is in the same state as Ma Yun, shouting and laughing like "crazy people".
Cai Chongxin felt that this place was like a beggar's nest, and he could not see the shadow of a serious company at all.
At that time, it was indeed not a company, Ma Yun just looked forward to development with enthusiasm and did not register at all.
Looking at the group of "rabble-rousers" in front of him, Cai Chongxin's heart was half cold, but Ma Yun always had a way to re-warm his heart.
Ma Yun talked to him about his dream of "sesame opening the door", saying that he wanted to be the best B2B company in the world and a great enterprise for 80 years.
After so many conversations, Cai Chongxin made up his mind: no investment, but joined.
Ma Yun did not expect that the money had not yet arrived, but instead pulled a person.
Cai Chongxin looked at the spit-filled Ma Yun, and his eyes firmly said to him: "I won't do it over there, I'll come to your company." ”
This startled Ma Yun: The executives of your grand transnational investment enterprises, coming to my small company that has just started, I am afraid that I can't afford to raise them, and I must no longer consider it.
After Cai Chongxin returned, he did not think about it again, and directly announced to his family and the original company: Ma Yun's company has a great future and he must go.
At this time, Cai Chongxin's wife was pregnant, and when she heard her husband say that she wanted to resign, she was puzzled and repeatedly persuaded.
Even his father, who had always been enlightened, shook his head in opposition, telling him to calm down.
But Cai Chong, who had already been beaten into the chicken blood by Ma Yun, had already made up his mind, and within a few days, he brought his wife to meet with Ma Yun again to show his sincerity.
The three of them boated on the West Lake and continued the leading edge.
Ma Yun repeatedly stated: You have seen our conditions, I can only afford to pay you 500 yuan salary every month, do you still come?
Cai Chongxin said decisively: "Come."
As his wife, she knows the thoughts of the pillow people best, and she also stands up to speak for her husband.
"If he is not allowed to go, he will not be at ease for the rest of his life."
Seeing that Cai Chongxin's idea had been decided, Ma Yun did not have the reason to turn away talents, and immediately appointed:
"I won't manage the money, I've managed up to 2 million yuan, you can help me manage the money."
Two months later, Tsai Chongxin took office as the company's CFO (Chief Financial Officer), Employee No. 19.
Now, Cai Chongxin, who has a background in international legal affairs, has joined strongly, and is one step closer to the goal of building a 100 billion group.
(Cai Chongxin and his wife Wu Minghua)
This job hopping, for Ma Yun, is far more than just having an experienced employee.
Before Tsai Chongxin came, he had eaten 37 times behind closed doors, and no investors were optimistic about this small company.
Cai Chongxin is like a god of wealth, with him, it is like opening the sesame door of the forty thieves, gold and silver jewelry.
The investment circle heard that Cai Chongxin, the president with an annual salary of 700,000 US dollars, did not do it, and ran back to China to be the small head of an e-commerce company.
In addition to the surprise shock, they are more determined, this company is not simple, it is definitely a potential stock, and it is right to follow the investment.
In October 1999, led by Wall Street investment firm Goldman Sachs, a number of banks, together with a number of banks, threw $5 million into Ma Yun.
With Cai Chongxin's endorsement, the problem of money was solved at once.
It is often said that from 0 to 1 is the most difficult, this first 5 million financing, than the subsequent 20 million, 80 million are more effective, so that the company smoothly through the start-up winter.
Years later, when the reporter asked Cai Chongxin why he wanted to join Ma Yun in the first place, he replied:
"The risk and reward of joining is asymmetrical, the opportunity cost is small, and once successful, the return is large and worth a try."
Simply put, it is done, everyone is happy, and the money is full; no, it is not a big deal to go back to being the president, and the loss is not great.
Cai Chongxin was a lawyer before, with proper measure and clear organization; after that, he worked for an investment company, tried to judge the situation, and had resources and contacts.
Therefore, any decision he makes is a deliberate and rational analysis, not a thief ship with a hot head.
Cai Chongxin's first achievement after taking office was to attract investment; the second task was to train this group of "rabble-rousers".
He took off his high-end brand suit, rolled up the sleeves of his snow-white shirt, and huddled with eighteen luohans in Ma Yun's house, which is known as the office, and used a small white board to explain to employees what is "shares", "shareholders" and "contracts".
Eighteen professional-level shareholding agreements were then drawn up and everyone signed them.
If everyone got together before, it was all because of Ma Yun's three-inch tongue and generous vision.
Now, then, with the bondage of practical interests, after which there are blessings and difficulties, it is no longer based on personal charm alone.
That year, the company held its first press conference and officially released its website.
Cai Chongxin stood next to Ma Yun, under the company logo, with a bright face.
He then led the establishment of a corporate headquarters in Hong Kong to target overseas markets.
Tsai Chongxin successfully standardized a small group similar to a family business into a company that meets the listing conditions in the future, in accordance with international practice.
For now, though, it's just a prototype.
But soon, Cai Chongxin will put wings on it.
At the same time that Tsai Chongxin attracted the first funds, the Japanese investment tycoon also threw an olive branch and wanted to bet on a $40 million investment.
Ma Yun was excited, full of promises, and almost signed a contract.
The boss can be impulsive, but the employees have to help the bottom, and Cai Chongxin strongly opposes it.
He believes that investing 40 million yuan will account for 49% of the company's equity, the share is too large and too dangerous, in case of improper operation, the Ma company is likely to no longer be surnamed Ma.
Now the company is not short of money, "white take" so much money, will only dilute the shares in their hands, pick up sesame seeds and throw watermelon.
But Ma Yun is still a little reluctant to this sesame seed, agreeing to reduce the amount to 30 million.
After returning from the Negotiations in Japan, he carefully thought about Cai Chongxin's words and felt that it was indeed reasonable.
Therefore, Ma Yun rebelled and sent a remorse email to the other party:
"On our own lines, we really only need 20 million."
Fortunately, the other party had a good temper and agreed.
Soon after, the Internet bubble burst and many technology companies vanished in the wave, and Tsai Chongxin helped the company survive the storm with abundant and reasonable capital flow.
Ma Yun once commented on Cai Chongxin: "He is not telling you what to do, but what you want to do, and I can help you to be more perfect." ”
When there is no money, Cai Chongxin can get money; when he has money, he can judge whether to receive it or not.
That's why Ma Praised Him as "the best CFO I've ever seen."
Since then, Tsai Chongxin has once again exerted his calm and clear strategic analysis ability, and when the boss urgently needs money to create a shopping platform, he has obtained another $82 million.
And this money was asked by Cai Chongxin from the "mother's family".
In 2004, Tsai Chongxin went around pulling private sponsorships from many Taiwanese business families, and then joining forces with Fidelity, GGV and other companies to help Ma Yuntao get this huge amount of money.
With this money, the group's shopping platform can survive the initial crazy money-burning stage, gradually break into thousands of households, and sit firmly on the first throne of e-commerce.
On November 4, 2007, Jack Ma and Chongxin Tsai went to Taiwan to attend the forum organized by China Trust and delivered a speech, which won the applause of the whole hall.
Many people wonder: how could these two people travel thousands of miles to participate in a forum?
In fact, this is a journey of gratitude, precisely to "repay" the taiwanese enterprises in the company's friendship sponsorship 3 years ago.
Otherwise, Ma Yun may still be in the B2B business of public-to-business, away from the title of "Ma Daddy" in the mouths of thousands of girls today.
After that, Tsai Chongxin once again intervened in the acquisition of Yahoo, accepting the $1 billion packaged by Yang Andreyuan, as well as all the assets of Yahoo China.
At that time, the company was fighting with the international e-commerce giant eBay, at the time of life and death.
Win, get a foothold; lose, get kicked out of the loop.
The company has Cai Chongxin, full of chances, got strong capital, and won this cross-border battle.
Since then, the jianghu is no longer divided into three worlds, but a single family.
The platform gradually occupies 80% of the market share of retail e-commerce, and no one can shake it anymore, and Cai Chongxin has made great contributions.
Ma Yun compared the differences in the behavior of the two, saying that he was "rushing forward", and Cai Chongxin was "seeing clearly before moving forward".
A company that aspires to be bigger and stronger, it is not enough to have ambitious goals, but also needs someone to implement the goals.
Just like some people are suitable for building a platform, and some people are suitable for matchmaking, Ma Yun belongs to the former, cai Chongxin belongs to the latter, and one is indispensable.
But there are talented people in jiangshan generations, and Cai Chongxin has assisted Ma Yun for more than ten years, and it is time to give way to new people.
In May 2013, Cai Chongxin stepped down as CFO and became the executive deputy of the group's board of directors, Zhu Xi, standing in a higher place to plan the layout.
Although he is not in the main position, employees are still accustomed to thinking: "As long as it is a matter of finance and investment, it is right to find Mr. Cai." ”
In 2014, the Group announced a list of 27 partners.
According to the system, after the partner leaves the company, he "retires" from the list and does not reserve the quota.
Cai Chongxin, who was not originally an eighteen-arhat, not only ranked among them, but also became one of the permanent partners, while the other was Ma Yun.
From this point of view, Cai Chongxin is still a veritable second-in-command of the company, above ten thousand people under one person, but has more leisure time to develop business hobbies, such as basketball.
Since middle school, Cai Chongxin has been fascinated by ball games, and now after a little leisure, he has actively devoted himself to the field of sports.
In April 2018, he heard that the former owner of the NBA's Brooklyn Nets was selling a 49% stake and was buying it for $1.15 billion.
Speaking excitedly at the press conference, he said: "As a lifelong sports fan, I am very honored to be a Nets shareholder and join the NBA family. ”
In October of the same year, the official website announced that Tsai Chongxin joined the NBA China Board of Directors.
In September 2019, he raised his chips and spent another $2.35 billion to buy another 51% stake in the team and promoted to legitimate owner.
According to state media reports, this is the largest investment from China in the history of the NBA, and Tsai Chongxin also became the first Chinese boss in the history of the team.
The 55-year-old said that this is looking for the next stage of life, in addition to the main work, advocating and practicing a healthy and happy outlook on life.
It seems that Cai Chongxin is truly in love with basketball, and he is willing to spend money for true love.
But for him, it was just a piece of cake, and he wasn't short of money at all.
In April 2022, Tsai Chongxin was listed on the Forbes Global Billionaires List with $8.4 billion in assets.
Although the money to buy the team accounts for half of the net worth, this is an investment, not a consumption, and after winning the championship in the future, it will be a source of wealth, allowing him to advance a few more on the rich list.
However, there is still a big difference between managing a team and managing a company.
At the beginning, Tsai Chongxin was able to bind the interests of employees and the company through contracts, which was a completely reasonable approach.
But players in international competitions are not as good as employees who eat on salaries.
For example, the player of this team, Owen, because of the previous record of missing the game many times, so Cai Chongxin considered adding some clauses such as "how many games to get a salary" in the newly proposed contract extension.
This made the flesh-and-blood Irving very unhappy, angrily shouting at Boss Cai:
"Although you have money and a team, I don't play now because of money, I don't want to be bound by these things, I want to play happily!"
In the new stage of life, how Tsai Chongxin should deal with this subordinate who confronts him and handle the interests of players and teams is a big challenge.
Perhaps, from the perspective of his investors, this is not a thing: "As long as the problems that can be solved with money are small problems." ”
Cai Chongxin once said of himself: "In the world I am good at, I feel very confident and comfortable.
I didn't think about it, I knew what my role was. ”
From a lawyer at the beginning, to an investor, to a senior management, and finally to a team owner, every step of Cai Chongxin's life is chosen according to his heart.
Because of love, it is full of motivation and achievement.
We always say that we can't help ourselves, we must be forced to give up a lot to survive.
But in fact, the root cause of lying flat is not that the outside world has many volumes, but that it is actively abandoned in advance because there is no goal.
As the saying goes: we only really control life sometimes, and most of the time we pretend we can't control it, even though we can.
Author: Zhu Xiaochang & Wen Yu