Richard Liu Qiangdong was born in the year 1974 in Suqian, China. In 1996, Richard Liu graduated from Renmin University in Beijing, where he studied sociology.
Liu Qiangdong established his business 360buy in 1998, an electronics shop that sold magneto-optical products at Zhongguancun in Beijing. When the SARS epidemic hit, the retail industry in China was affected, forcing Liu to close.
With the emergence of the internet, Liu decided to start an online retailing business in 2004. Later in 2007, Richard ventured into the logistics and delivery market.
Liu contributed to China’s e-commerce in 2014 by building the platform, which changed its name to JD.com. The company raised $1.8 billion in the same year and started trading on the Nasdaq with a public listing. According to Bloomberg, in 2014, JD.com sold its shares, becoming the largest IPO traded in New York.
The same year, Tencent Holdings- Asia’s leading internet company, bought a 15% stake. JD.com merged with Tencent Holding and purchased a stake in Vipshop for $863 million in 2017.
At the end of 2021, JD.com boasts more than 569 million active users. He owns a 14.5% stake in JD.com, where his fortune is derived from which consists of the following:
- Market and taxes performance
- Analysis of dividends
- Insider transactions
- Shares sales in JD.com’s IPO
According to Bloomberg, he also controls investment entities, namely Max Smart and Fortune Rising, listed in the British Virgin Islands- a holding company that both have a stake in JD.com. He also has a net worth of $13.6 billion. Refer to this page for related information.
More about Richard Liu on https://finance.yahoo.com/news/richard-liu-propels-jd-q2-210144432.html