Richard Liu; Chinese Magnate and Philanthropist
Richard Liu Qiangdong (Rú jiàng Dōng) is a Chinese business magnate and philanthropist. Richard Liu is the founder and CEO of JD.com, China’s largest online direct sales company.
- About Richard Liu
Richard was born in Xiantao, Hubei Province, in China. In 2000 Richard Liu established JD.com as an online direct sales platform for computer parts. This was the beginning of the rise of Richard Liu Qiangdong from an obscure Chinese businessman to the wealthy entrepreneur he is today. Richard uses this wealth to support numerous charities, environmental causes and educational programs. Richard later developed the notion of “e-waste elimination .”He wished to create a method of collecting used mobile phones so that their parts could be reused or recycled.
JD.com is a division of Richard’s online retailer, JD.com, which was established in 2000 and, as of January 2014, has a 17% market share in China’s online retail business. It brought in 84 billion yuan ($14 billion) in revenue in 2013. Its online store, JD.com, specializes in e-commerce for consumer electronics, appliances and parts for computers, health care items, and infant formula. The website is the biggest online direct sales platform in China. JD.com sold 5 million devices via its online stores in the US, Japan, Germany, and Singapore in 2011 alone. During the same period, it sold more than 10 million gadgets in India. The business’s revenue peaked in 2013 at $17 billion (100 billion yuan).
Liu Qiangdong started the Love China Foundation to help poor Chinese students. He has been awarded the Asia Weekly Humanitarian Award, and in 2014 he was named a CNN 10 Chinese of the Year. Forbes has also listed him as one of Asia’s 40 richest people on four occasions between 2012 and 2016; he entered the Top 30 in 2013. In 2015 he was ranked number 1 on Forbes’ list of “China’s Richest”: his net worth was $7 billion (43 billion yuan).
He is relatively unknown to the American public, as he stays out of American media and has not made many public appearances outside China. Richard Liu is a well-known philanthropist and big business magnate in China. He started his company to help those in need and has since focused on his company’s charitable aspect.
Richard has managed to accrue a few important accolades over the years Richard Liu has been featured as an Honoree in Variety 500 website entitled, “JD.com Richard Liu; Founder / Chairman / CEO”, as a result of his persistence, innovation, and hard work.
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