Richard Liu is an internet entrepreneur in China. He was born in 1974, is married to one Zhang Zetian and together they got two children. He is the founder and also the Chief Executive Officer of Jingdong Mall (JD.com). This is one among the leaders of e-commerce in China. His net worth as on January of 2018 was $12.7 billion.
In an article on AACSB.edu, Liu was listed as one of the “Most Influential Leaders”. As a testament to Liu’s admirable business practices, he has received numerous national and international awards for his entrepreneurship, business influence, innovation, and leadership.
Richard Liu was interested in politics. He therefore enrolled to study sociology in People’s University of China which is well connected to the political elites of China. Unfortunately, Richard found that the degree won’t offer him a job opportunity good enough and therefore learned computer programming in his spare time. In 1996, he graduated with a degree in sociology. Later, he got an EMBA.
While in college, Richard Liu invested in a restaurant venture his earnings from programming work and also some family loans. Unfortunately, the business did fail after a few months leaving him in a debt. Richard Liu got an employment in Japan Life which is a health product enterprise based in Japan.
In June of 1998, Richard Liu then started JD.com in Beijing to distribute magneto-optical products. He did focus on the sale of authorized products while counterfeit products were being sold largely. He expanded greatly and had opened a total of 12 stores by 2003. See This Page for related information.
Richard’s business was greatly affected by the SARS outbreak of the year 2003 forcing his staff and clients to stay at home. This therefore forced him to rethink of his business model and then diverted to do his business online. The outbreak made Richard to lose a total of about 8 million yuan.
In 2004, he started an online retail website and later founded JD.com later that year. JD.com was named after Richard himself and Gong Xiaojing when he founded it. In 2007, Liu changed the business model to start selling various goods unlike the sale of consumer electronics only. JD.com has grown widely to be among the leaders of e-commerce in China. In January of 2014, Richard applied for JD.com to go public.
More about Liu on https://www.wealthx.com/dossier/qiangdong-liu/