Richard Liu Qiangdong is a Chinese serial entrepreneur best known as the sole founder, Chief Executive Officer, and Chairman of JD.com. Since Jingdong’s 1998 foundation, Richard Liu has led the company to a current valuation of nearly $58 billion.
Liu Qiangdong has also amassed a respectable fortune for himself, ranked by Forbes as one of the world’s wealthiest billionaires with a net worth of around $11 billion.
Let’s peer into Richard Liu Qiangdong’s background
Richard Liu Qiangdong graduated from the Renmin University of China in 1996 with a bachelor’s degree in sociology. Though he majored in the social science of sociology, Liu spent most of his free time learning computer programming. Richard Liu Qiangdong supported himself financially throughout his college career by doing freelance programming jobs.
After leaving the Renmin University of China in 1996, Liu earned an executive master’s degree in business administration from the China Europe International Business School. He learned how to speak English reasonably well while at the China Europe International Business School, something that would later prove helpful to his business endeavors.
The young businessman began working for himself full-time in 1998
Just a year after earning his master’s degree, Richard Liu Qiangdong began selling goods in China’s capital city of Beijing, naming the 150-odd-square-foot storefront he leased as Jingdong. Liu chose the name, a character in the world-popular language of Mandarin, because his name ended with the character.
Five years after opening Jingdong, the small-time retailer had grown into a 12-location business throughout Beijing, China. However, the major 2003 severe acute respiratory syndrome (SARS) outbreak causes financial trouble for Liu after many people stopped visiting stores to make retail purchases. See This Page to learn more.
Here’s where he got the idea for online retailing
Richard Liu Qiangdong was startled by the economic downturn in China after the SARS outbreak reached its peak. The fledgling company was not profitable during the months in which SARS diagnoses were the highest.
In 2004, Richard Liu Qiangdong began selling goods at JD.com, an online retailer similar to Amazon that has since grown into one of China’s most popular retailers.