Richard Qiangdong Liu, is the founder and chairman of China e-commerce firm JD.com, Inc. He is also a member of the Alibaba Group Board of Directors. He stepped down as CEO in April 2022, but will remain as chairman. Liu Qiangdong was born in the Suqian City, in Jiangsu Province, China. In 1996 he graduated from the Shenyang Institute of Technology with a degree in computer science.
After working as a programmer at China’s Ministry of Electronic Industry, Liu founded JD.com in 1998 with 12,000 yuan ($1,800). The company started out as an online magneto-optical store, but later expanded to selling electronics and other consumer goods. JD.com went public on the Nasdaq in May 2014, with an initial public offering (IPO) price of $19 per share. JD.com’s business model is based on a “virtual warehouse” concept. The company does not maintain inventory but instead relies on suppliers to ship goods directly to customers. This allows JD.com to offer lower prices and same-day delivery in some cases.
In March 2015, Liu launched the “JD Love and Care” program, which provides financial assistance to rural Chinese students who want to attend college but cannot afford it. As of 2019, the program had helped more than 1,700 students. In September 2015, Liu donated $300 million to Tsinghua University to establish the Qiangdong Global Scholarship program. The scholarship provides full funding for up to 1,000 students from around the world to study at Tsinghua University.
- Awards and recognition
In 2016, Liu was ranked No. 18 on Forbes’ list of the world’s billionaires, with a net worth of $7.2 billion. In 2017, he was ranked No. 25 on the Forbes list, with a net worth of $8.7 billion. In 2018, he was ranked No. 33 on the Forbes list, with a net worth of $12.7 billion. As of 2019, his net worth was estimated at $13.2 billion. He was awarded the “Entrepreneur of the Year” award by Ernst & Young in 2014. In 2015, he was named one of “The World’s 50 Greatest Leaders” by Fortune magazine.
The digitization of China’s economy has created numerous opportunities for entrepreneurs like Richard Qiangdong Liu. JD.com is just one example of a successful company that has taken advantage of the country’s growing e-commerce market. As China’s economy continues to grow and evolve, it will be interesting to see how entrepreneurs like Liu continue to innovate and disrupt traditional businesses
Original source to learn more: https://www.jd.id/liu-qiangdong-jd-ceo-about