Richard Liu is the internet-famous billionaire from China worth approximately $12 Billion thanks to his founding of online retail giant JD.com. Short for JingDong (named after his and late girlfriend’s shared the last character of their name), JD.com is currently listed on the American Nasdaq market and is backed by companies like Google and Walmart.
Richard Liu Qiangdong, which is his full name, started out his life like most people, having grown up outside the city and moved in search of more excitement, job stability, and a career. He attended Renmin University and got a degree in sociology, and then after getting his master’s degree at the China Europe International Business School got his first job at a natural supplement company called Japan Life. Click Here for more information.
After a promotion to the Director of Computers at Japan Life due to his knowledge of coding skills, Richard Liu branched out in 1998 and started selling magneto-optical parts on the side. His small company grew from just one location and a few parts into 12 stores burgeoning with products for sale. When the 2003 SARS epidemic hit, it changed everything nearly overnight and forced Richard Liu Qiangdong to go completely online.
This ended up working out very well for Richard Liu, and his net online sales started to surpass the sales of his physical locations. It was at this point that Richard Liu knew the internet was the future and started added a new product category every year until it has grown into the company that we know it to be today.
With the success of JD.com, Richard Liu Qiangdong has now been able to invest $400 million into Farfetch.com: an online luxury retail outlet that sells everything from shirts, pants, shoes, and hats, to bags, sweaters, sunglasses, and more. As of 2016, JD.com worth an excess of $44 billion dollars.