Early Life
Richard Liu was born on March 10, 1973, in Suqian, Jiangsu province, China. Growing up in a poor family, he had limited access to meat and relied on corn and potatoes for sustenance. At the age of 18, he left home to study at Renmin University in Beijing, supported by donations from his village.
Rise to Success
After graduating from Renmin University in 1996 with a degree in sociology, Liu worked at Japan Life. In June 1998, he started Jingdong, a business selling magneto-optical products in Beijing. The business transitioned to online retail in 2004, initially focusing on 3C products (computers, communication, and consumer electronics) and evolving into JD.com in 2013. JD.com went public on the NASDAQ in 2014. Under Liu's leadership, JD.com has become the largest retailer in China. In 2022, Liu stepped down as CEO to focus on long-term strategies, with Lei Xu taking over the role.
Key Business Strategies
JD.com's success is attributed to its focus on direct sales and its self-owned logistics network. This gave JD.com control over its supply chain, enabling fast and reliable delivery, a major competitive advantage. The company has continually expanded its product lines and geographic coverage.
Philanthropy
Liu has a history of philanthropic activities. In 2022, he donated shares worth over $2.2 billion to charity. He also gives back to his hometown, providing financial support to villagers. In January 2025, he pledged to give $1,400 in cash to each villager over 60 years old.