Richard Liu Qiangdong: Becoming a Billionaire through the E-Commerce Industry

Richard Liu Qiangdong is a Chinese billionaire who owns JD.com, one of the country’s largest online retailers. The business established by Liu Qiangdong created a new culture in mainland China, enticing the population to rely on online services for the products that they wanted to buy. E-commerce is a major industry in China, and JD.com is only one of the hundreds of e-commerce platforms active in the country today. To remain significant in the industry, Richard Liu Qiangdong, who serves as the company’s chief executive officer, continues to innovate how the company serves the people. Through his hard work and perseverance, the founder of JD.com was able to build up his fortune, allowing him to earn billions of dollars, and putting his net worth at around $13 billion. The company has also listed their ticker symbol on the stock market, and let the public buy shares from them. The continuous positive performance of JD.com made them an ideal investment among those who are looking for shares to buy.

Establishing an e-commerce business was not that easy, according to the company’s founder. When he was still enrolled in college at the People’s University China, Richard Liu Qiangdong has always dreamed of entering politics, and he is hoping that studying at the university known for producing the greatest Chinese leaders would give him higher chances of finding a job at the government. However, fate took him somewhere else, and he was not able to fulfill his childhood dream. Instead, he ventured into the entrepreneurship career, and he opened his first business while he was still studying – a small restaurant that serves a variety of food catering students and teachers alike. However, the business was managed badly, and he had to close it down.

Fortunately, Richard Liu Qiangdong has background knowledge in programming, and he used it to establish his online retail business after the Chinese government ordered all businesses in the country to lessen physical contact, as SARS outbreak happened in 2003. Richard Liu Qiangdong benefited from the lesser physical contact, and while most businesses in China perished, his online business thrived. In 2004, he officially introduced JD.com to the public, and it performed well through the years.

Read More: www.bloomberg.com/billionaires/profiles/qiangdong-liu/

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