Jack Zhang, the visionary co-founder and CEO of the global payments platform Airwallex, has steered his startup to an impressive $8 billion valuation, yet maintains a unique perspective on the concept of burnout. Zhang candidly told CNBC Make It that he has “never understood that terminology,” citing a disciplined work ethic of 100 hours a week since the age of 16—a routine he maintained for over two decades. Even in his late 40s, he continues to dedicate 80 hours weekly, emphasizing that during challenging times, the focus shifts from burnout to survival.

From Qingdao to Melbourne: A Formative Journey

Zhang’s formidable work ethic was forged out of necessity. At 15, he moved from Qingdao, China, to Melbourne, Australia, navigating a new environment with limited English while living with a host family. Facing financial hardship with his parents, Zhang independently funded his computer science degree at the University of Melbourne and covered living expenses by taking on demanding blue-collar jobs, including washing dishes, bartending, working overnight petrol station shifts, and packing lemons during summer breaks.

Upon graduating in 2007, Zhang began as a software engineer at Aviva and later worked in banking. Despite achieving financial success, he experienced a turning point with the birth of his daughter at age 30. He reflected, “I hadn’t done anything to make her feel proud,” igniting a desire to pursue meaningful work that went beyond side hustles. This realization led him to retire from his full-time job and focus on an ambitious venture that would channel his passion, energy, and expertise.

The Birth of Airwallex

The idea for Airwallex emerged from an earlier side hustle with his university friend and future co-founder, Max Li. While importing coffee beans from Brazil and China, they faced difficulties wiring money overseas. This experience sparked the question: “Why can’t we build a payment system in parallel to SWIFT and fundamentally change how money moves around the world?”

In 2015, Airwallex was officially founded with other university friends: Jacob Dai, Lucy Liu (who invested $1 million), and Ki-lok Wong. The company quickly gained momentum, with transaction volume surging by mid-2018, attracting investor attention and raising $80 million, valuing the company at $450 million by year-end. By December, Airwallex had achieved $1 billion in annualized run rate revenue (ARR).

Momentum continued through 2022 with a Series E-2 fundraise, boosting the fintech’s valuation to $5.6 billion and marking its strategic expansion into China, making it only the second foreign company outside China to achieve such a milestone. Today, Airwallex operates globally with 2,000 employees across 26 offices.

Looking Ahead: $10 Billion by 2030

Despite these achievements, Zhang remains ambitious. He expressed excitement about the future, stating that there are “tons of opportunities ahead.” His next goal for Airwallex is to generate at least $10 billion in revenue by 2030, demonstrating his unwavering drive and confidence in the company’s capacity for sustained growth and global impact.