Richard Liu Qiangdong is the founder and chairman of JD.com, China’s largest retailer. He has a net worth of 7.1 billion dollars, making him one of the wealthiest people in China. He was born in Jiangsu Province, but Richard went to high school in Beijing before attending entrepreneurship classes at Shanghai Jiaotong University and MIT Sloan School of Management in Boston.
In 1997 he founded an online bookstore called “Liu Qiangdong Books”, which became known as Jingdong or JD for short after its rebranding in 2010.
- Liu Qiangdong is known for his generous philanthropy and entrepreneurship programs like JD’s “Young Millionaires’ Training Program”. The program provides training on business management and leadership skills to young people from rural areas who are interested in entrepreneurship.
- In 2015, Forbes ranked Richard Liu as the 16th wealthiest person on earth and number one for all Chinese citizens. He is referred to around China as “the nation’s husband”.
- JD.com is China’s largest retailer, competing with Alibaba and their subsidiary Taobao Mall. The company was formed in 2014 when Jingdong restructured itself to create an online retail model for consumer products similar to that found on Amazon. Since then, it has become known as “China’s No. e-commerce company.”
- Jingdong has more than 266 million active users every month and around 80,000 employees in China. The company is valued at 51 billion dollars, making it the largest retailer on earth by valuation.
- As of 2017, Qiangdong was also ranked #27 among the most influential people in Asia’s finance industry, according to the Power Index of the Nikkei Asia Review.
- Richard Liu plans to expand JD beyond China into other areas in Asia where e-commerce is starting to take off, like Japan, South Korea and even India. He recently invested 397 million dollars into Grab, which operates a ride-sharing service similar to Uber called “Grab Taxi”. See related link for additional information.
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