Chinese billionaire says he was happier when he was poor

As glamorous and carefree as being a billionaire sounds, China's richest man, Jack Ma, says that in actuality it's not that thrilling.

The founder of the wildly successful commerce site Alibaba told attendees of The Economic Club of New York luncheon that he was happier when he was poor.

Ma said that one of the best times of his life was right after college when he was earning $12 a month as an English teacher.

Many years -- and billions of dollars -- later, he now characterizes his existence as one dominated by pressures and expectations.

Said Ma, "If you have less than $1 million, you know how to spend the money. [At] $1 billion, that's not your money ... The money I have today is a responsibility. It's the trust of people on me."