Richard Liu is a well-known entrepreneur with heavy technology investments, including drones, AI, and big data. He is the current CEO of JD.com and has been running the firm as its chairman since it was launched. Liu comes from a humble background and commits to running his endeavors with integrity and trustworthiness. He started his entrepreneurial journey with a stall and has expanded to a significant retail business globally. Liu’s wealth is estimated to be $12.7 billion, with his firm’s revenue being over $82.9 billion.
In 1998, Richard Liu took his savings of about $1,760 to purchase a booth and inventory in Zhongguancun. Liu started as a simple store where he used to sell magneto-optical drives. His company was called Jingdong, which has transitioned into today’s JD.com.
The outbreak of the SARS epidemic in 2003 negatively affected China’s economy as many people chose to stay indoors to avoid the virus. As a result, many businesses were forced to shutter, including Liu’s. To ensure that he was not out of business, Liu Qiangdong started posting his electronic products online, and with time, he was able to survive the SARS effects. Later, he re-opened his stores with an employee designated to be posting his electronic goods on the internet. This made Liu realize the great opportunities in the e-commerce industry, and he decided to move his firm entirely online.
During this time, many people were reluctant to buy items from online platforms. However, Liu’s trustworthy culture enabled him to stand out in the eCommerce industry. Following one year of extra work, he launched JD.com as a premiere eCommerce firm. To save on rent, Liu chose to stay in his office and took his time to work out the company’s website code.
Richard also elected to interact with his clients by ensuring that he was the one answering their call. This also helped him ensure that customers were satisfied with the firm’s services. At times, he could do the deliveries himself as he believes that entrepreneurs should have control of their services.
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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