Richard Liu Qiangdong Remains on Top of the Most Successful Entrepreneurs in China

Richard Liu Qiangdong has built a name for himself in the e-commerce sector in China as a successful entrepreneur and businessman who leveraged business savvy, intuition and intrinsic beliefs to carve out a career in the competitive market. He has been ranked as one of the richest individuals in China with an estimated net worth of $12 billion. He built the empire which serves more than 300 million active shoppers from ground up leveraging cutting edge technology to come up with solutions.

Richard Liu Qiangdong comes from China’s town of Suqian in Jiangsu province. He was raised up by coal-shipping parents who instilled in him the values of discipline and hard work. He excelled through his education in primary and secondary to join The Peoples’ University of China where he pursued Sociology. Liu Qiangdong spent his free time doing personal studies in the area of computer science expanding his horizons in regards to becoming a worthy competitor for employment opportunities.

His efforts paid off when he joined Japan Life after graduating from university. His self-acquired skills came-in handy when executing his duties at the natural supplement provider. He was promoted to the position of the company’s Director of Computers and Service. In 1998, he decided to get into entrepreneurship and consequently, he called it quits at Japan Life. He started a business at China’s tech hub in Beijing, China which sold magneto-optical products. He realized the importance of customer service, ease of transaction and technology use in business development. He leveraged the components to take his business to the next level. The business expanded into twelve brick-and-mortar retail spaces five years later.

He embarked on a journey to transition into e-commerce when SARS outbreak made him close down his physical retail spaces. At the time, Chinese consumers were also getting comfortable with the idea of shopping online. He renamed the business into Jingdong before launching officially in 2004. Liu Qiangdong used a lot of resources to build proprietary platform to perfect the user experience and provide same-day and next-day deliveries across the country. The platform brought on board luxury items not available in the country. Some big players in the world’s retail business such as Walmart saw the potential in and invested in it. However, Richard Liu Qiangdong remains its majority shareholder and it has an estimated net worth of $57 billion.

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