Richard Liu Qiangdong: Behind The Legend

Hugely successful professionals often have a mystic cloud around their name. People feel as though they could never accomplish what billionaires accomplish. While some billionaires earned their money in non-conventional ways, people like Richard Liu Qiangdong earned their money the old-fashioned way: hard work and determination.


Richard Liu Qiangdong’s childhood was nothing spectacular. His parents owned a little shipping company that only shipped coal from northern China to southern China. Such humble upbringing taught Richard Liu the value of hard work and proper planning. After going to Renmin University, Richard Liu Qiangdong earned a sociology degree. Immediately upon graduating, he realized that a sociology degree doesn’t come with a high-paying job. While coming up with a new plan, Liu Qiangdng learned computer programming and became a freelance coder. He used that money to put himself through school again and earned himself an EMBA.


Liu Qiangdong also began looking for an excellent entrepreneurial startup. Through youthful eyes, Richard Liu saw his first opportunity to pursue entrepreneurship in a restaurant. Not realizing how hard restaurants are, he invested some of his coder money into a little business. The restaurant didn’t last long, as Liu Qiangdong hardly ever visited the business. Go To This Page for more information.


His second attempt at entrepreneurial pursuit came in the form as a little magneto-optical products store. He called the store Jingdong, a name he came up with after combining part of his name and part of his then-girlfriend’s name. Jingdong was wildly successful until the 2003 SARS outbreak.


The outbreak forced him to shut down all his Jingdong stores and rethink his platform. Instead of reconsidering his brick-and-mortar business model, Liu decided to convert to an e-commerce model completely. Online sales went through the roof, and he began adding more products every month.


In 2004, Jingdong became Today, is the most successful online business in China. According to Forbes, the company is worth $60 billion, and Richard Liu Qiangdong is worth $11 billion. These days, Richard Liu Qiangdong travels the world, doing interviews and listening to people from all over the world.


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