Richard Liu Qiangdong On Not Giving Up On Your Ideas

E-commerce billionaire and Chinese internet star, Richard Liu Qiangdong, is a man with an impressive story to tell. For starters, he wasn’t born with a silver spoon in his mouth. He had to earn each and every dollar on his current $12.7 billion net worth, which makes him one of the richest men in the world today. But the road hasn’t been this rosy for Richard Liu Qiangdong. During the most recent World Economic Forum Annual Meeting, where he was in attendance, the billionaire gave a brief history of how his journey was riddled with setbacks as well as trying moments. He began his journey in the business world as a restaurant owner. 

Unfortunately, the business didn’t take off as expected. Knee deep in debt  and in despair, Richard Liu Qiangdong didn’t give up. He instead took a job as a salesman dealing in medical related products. Once his debt was cleared, Richard decided to give entrepreneurship yet another try.  But this time around, he went forward with another venture, which involved the sales of electronics. Thankfully, this business picked up quite well. But by 2003 the SARS pandemic hit which resulted in the crumbling of thousands of businesses. Thankfully, Richard Liu Qiangdong was fully prepared. And as a result of this, he quickly switched his business to an online platform.  By 2004, JD.com was founded and from there, everything seemed to have picked up quite well.

Ten years later, the online company was publically traded in NASDAQ and by 2016, it was raking annual revenues of close to $35 billion. Richard Liu Qiangdong always made sure that his company was dealing with legit businesses.  And that’s exactly why his company has grown to become a $60 billion empire with well over 167,000 employees all across the globe. JD.com is also known for having well over 500 logistics stores in China alone. The 2017 Variety500 Honoree also made sure the delivery time was greatly improved. For starters, a lot of businesses took a lot of time to deliver their goods to customers. But with JD.com, they only take about 6-20 hours to deliver which is quite impressive. And at this point, the rest of their competitors can only play catch up. Learn More.