Liu Qiangdong

Liu Qiangdong
Born	(1973-03-10) March 10, 1973 Suqian, Jiangsu, China
Other names	Richard Liu
Occupation	Internet entrepreneur
Years active	1998–present
Known for	Founder and chairman of JD.com
Notable work	JD Multimedia, JD.com

Liu Qiangdong (Richard) (; born March 10, 1973) is a prominent Chinese Internet entrepreneur who established JD Multimedia in June 1998 as a business-to-consumer retailer specializing in magneto-optical products. He later evolved the company into JD.com (Jingdong), an e-commerce platform, in 2013.

Liu held the position of CEO and currently serves as chairman of JD.com, overseeing the expansion of its product offerings from consumer electronics to a wide array of categories. Under his guidance, JD.com grew to become the largest retail enterprise in China. As of 2023, Forbes estimates Liu's net worth at approximately US$4.9 billion.

Early life and education

Born on March 10, 1973, in Suqian, Jiangsu province, Liu Qiangdong entered Renmin University of China in 1992, where he studied sociology within the law faculty and graduated with a Bachelor of Laws degree in sociology in 1996. He subsequently obtained an executive Master of Business Administration from the China Europe International Business School located in Shanghai.

During his university years, Liu utilized income from programming jobs and borrowed funds from his family to start a restaurant business. However, the venture failed within a few months, resulting in debts exceeding RMB200,000.

Career

Following graduation, Liu joined Japan Life, a Japanese company specializing in health products, where he held multiple roles including computer director, business director, and logistics supervisor.

In June 1998, Liu launched Jingdong in Beijing’s Zhongguancun High-tech Industrial Park as a distributor focused on magneto-optical products that were officially authorized, addressing the issue of counterfeit goods prevalent at the time. By 2003, the company had expanded to operate 12 physical retail locations.

The outbreak of SARS in 2003 compelled Liu to shift away from brick-and-mortar stores after incurring losses over 8 million yuan. In response, he introduced JD.com’s inaugural online platform in 2004 and closed all physical stores by 2005. That year, he rejected an acquisition offer for JD.com valued at 18 million yuan.

JD.com broadened its scope in 2007 by adopting a full-category approach that extended beyond consumer electronics to include various product types. This strategy propelled the company into becoming one of China’s foremost e-commerce platforms. Due to its business model and growth trajectory, JD.com has often been likened to Amazon, with Liu compared to Jeff Bezos as a self-made business leader.

JD.com submitted its initial public offering paperwork in the United States in January 2014 and successfully raised $1.8 billion upon listing on Nasdaq in May, marking the largest IPO by a Chinese internet company on the New York market at the time. Currently, JD.com ranks as the third-largest internet company worldwide by revenue and holds the position of China’s leading e-commerce firm.

In April 2022, Lei Xu assumed the role of CEO at JD.com while Liu transitioned to chairman to concentrate on long-term strategic planning. Subsequently, Sandy Ran Xu took over as CEO in May 2023.

In April 2024, JD.com introduced an AI-generated digital avatar representing Liu named “procurement and sales manager Brother Dong (采销东哥).” This virtual figure appeared during livestream events for JD Home Appliances and JD Supermarket, attracting over 20 million viewers within its first hour and generating RMB 50 million in sales during the broadcast.

Philanthropy

In 2008, Liu offered his assistance as a volunteer with the Red Cross to support those affected by the Sichuan earthquake in Pingwu County.

By 2013, when JD.com had a workforce of just 38 employees, Liu and the company took part in sponsoring educational opportunities for disadvantaged children in Jingle County, Shanxi.

During April 2020, Liu and Zhang Zetian contributed donations via the China Charity Federation that included 5 million masks, 50 invasive ventilators, and more than 600,000 medical items sent to the UK. In the same month, Liu also provided over 160,000 medical supplies to Uzbekistan and shipped 800,000 masks to Chile.

In February 2022, Liu committed to gifting JD.com shares valued at $2.3 billion to charitable causes. Later that year, he made a personal donation of 100 million RMB to a housing security fund aimed at supporting employees’ families in cases of death or injury; this contribution was matched by JD.com and its subsidiaries.

Together with his wife Zhang Zetian, Liu established the Tian-Qiang Charitable Fund. In 2023, this Fund partnered to launch the “Starlight Transmission” initiative, a children’s book donation program that has reached over 100 rural primary schools.

Personal life

Liu Qiangdong married Zhang Zetian in August 2015. Their relationship began in early 2014 while Liu was studying at Columbia University and Zhang was an exchange student at Barnard College, affiliated with Columbia. Having both experienced poverty during their upbringing, they have preserved close connections to Liu’s hometown of Suqian. For the 2015 Spring Festival, they returned to distribute red envelopes to more than 650 elderly villagers and have continued this tradition annually by sending packages containing food, clothing, and necessities during the festival.

On August 31, 2018, Liu was detained in Minneapolis, Minnesota, facing allegations of rape. Local authorities concluded there was "no substance to the claim against Mr. Liu," resulting in the charges being dropped. Nevertheless, three law firms initiated class-action lawsuits against JD.com for allegedly failing to disclose details about Liu’s arrest. Liu’s legal representatives denied any misconduct and asserted that the accusations lacked evidentiary support.

On April 16, 2019, a civil lawsuit was filed by a University of Minnesota student accusing Liu of sexual assault. This matter was resolved through an out-of-court settlement in 2022.

In 2024, Liu launched the “Sending New Year’s Gifts to Villagers” campaign, distributing over 1,000 down jackets and gift boxes to upwards of 1,300 households in Guangming Village, Suqian.