Bloomberg Billionaires Index

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# 212 Richard Liu $7.78B

Random fact: Cut annual salary in 2015 to 1 yuan, less than $1.

Overview

Liu is the founder and chairman of JD.com, China's second-largest e-commerce business. The Beijing-based company began trading on the Nasdaq in May 2014. JD.com has more than 310 million active customers as of first quarter in 2019 and it reported revenue of 462 billion yuan ($70 billion) in 2018.

As of :
Last change -$4.42M ( -0.1%)
YTD change +$2.76B ( +55.0%)
Industry Technology
Biggest asset JD US Equity
Citizenship China
Age 46
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Richard Liu's net worth of $7.78B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Liu's fortune is derived from his 15 percent stake in JD.com, China's second-largest e-commerce company. JD.com had more than 310 million active customers as of first quarter of 2019, according to a company presentation.

He controls the shares through Max Smart, a British Virgin Islands-based holding company, according to the company's 2018 annual report. He also controls Fortune Rising Holdings, another investment entity based in the British Virgin Islands, which has a 1.4 percent stake in the company. Shares held by Fortune Rising are excluded from Liu's valuation because they're held as part of a share incentive plan that conveys no personal economic benefits to Liu.

The value of his cash investments reflects proceeds from the sale of shares in JD.com's IPO and an analysis of dividends, insider transactions, taxes and market performance.

Josh Gartner, a JD.com spokesman in Beijing, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1/1/1973
Family: Married, 1 child
Education: Renmin University of China, China Europe International Business School

Richard Liu was born in Suqian, a city in eastern China's Jiangsu province. While studying sociology at Beijing's Renmin University, he began writing computer code in his spare time. He also established a restaurant near campus that left him in debt after the staff embezzled money from the business.

Liu’s next venture involved selling magneto-optical products in Zhongguancun, Beijing's technology hub, in 1998. After the SARS epidemic depressed China’s retail industry, Liu closed the stores and switched his focus to online sales with 360buy Jingdong. He built the platform into China's second largest e-commerce company by volume and changed its name to JD.com in 2014. When Liu raised $1.8 billion with a public listing on the Nasdaq in May the same year, the online retailer became the largest IPO for a Chinese Internet company traded in New York, according to data compiled by Bloomberg.

JD.com’s website says it has more than 200 million active users visiting its platform to shop for products that range from home appliances to books and clothes. It's also one the few companies in China with a permit to lease wireless capacity from the nation’s existing carriers. Investors include Russian billionaires Alisher Usmanov and Yuri Milner, as well as Tencent Holdings, Asia’s largest internet company, which bought a 15 percent stake in March 2014.

JD.com agreed to buy a stake in Vipshop with Tencent Holdings for $863 million in December 2017, according to a Bloomberg News story.

Milestones
  • 1974 Richard Liu is born in Suqian, China.
  • 1996 Graduates from Renmin University with a degree in sociology.
  • 1998 Establishes 360buy as an electronics shop.
  • 2004 Starts online retailing business and founds JD.com.
  • 2007 Enters logistics and delivery market.
  • 2013 Sells $125 million stake to Prince Alwaleed’s Kingdom Holding.
  • 2014 Tencent Holdings agrees to buy 15 percent stake in JD.com.
  • 2014 Company sells shares in an initial public offering in the U.S.