Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#160 Richard Liu $9.18B

Random fact: Has began trials of parcel delivery by drones.

Overview

Liu is the founder and chairman of JD.com, China's second-largest e-commerce business. The Beijing-based company began trading on the Nasdaq in May 2014. JD.com had more than 226 million active customers, 6,900 delivery stations and 120,000 employees at the end of 2016. The company reported revenue of 260 billion yuan ($39.2 billion) in 2016.

As of Oct. 18, 2017:
Last change +$161M (+1.8%)
YTD change +$3.20B (+53.5%)
Industry Technology
Biggest asset JD US Equity
Citizenship China
Age 43
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Richard Liu's net worth of $9.18B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Liu's fortune is derived from his 16 percent stake in JD.com, China's second-largest e-commerce company. The Beijing-based business had more than 226 million active customers, 6,900 delivery stations and 120,000 employees at the end of 2016, according to the company's website. It reported revenue of 260 billion yuan ($39.2 billion) in 2016.

He controls the shares through Max Smart, a British Virgin Islands-based holding company, according to a May 1, 2017 filing to the U.S. Securities and Exchange Commission. He also controls Fortune Rising Holdings, another investment entity based in the British Virgin Islands, which has a 2 percent stake in the company. Shares held by Fortune Rising were excluded from Liu's valuation on Sept. 21, 2016 because they're held as part of a share incentive plan that conveys no personal economic benefits to Liu.

The value of his investments is based on an analysis of proceeds from the initial public offering, share sales, dividends, taxes and market performance.

Josh Gartner, a JD.com spokesman in Beijing, declined to comment on the billionaire's net worth.

Biography

Birthdate: 1973
Family: Married, 1 child
Education: Renmin University of China, Sociology, Bachelor's Degree

Richard Liu was born in Suqian, a city in eastern China's Jiangsu province. While studying sociology at Beijing's Renmin University, he began writing computer code in his spare time. He also established a restaurant near campus that left him in debt after the staff embezzled money from the business.

Undeterred by the setback, Liu’s next venture involved selling magneto-optical products in Zhongguancun, Beijing's technology hub, in 1998. After the SARS epidemic depressed China’s retail industry, Liu closed the stores and switched his focus to online sales with 360buy Jingdong. He built the platform into China's second largest e-commerce company by volume and changed its name to JD.com in 2014. When Liu raised $1.8 billion with a public listing on the Nasdaq in May the same year, the online retailer became the largest IPO for a Chinese Internet company traded in New York, according to data compiled by Bloomberg.

JD.com’s website says it has 188 million active users visiting its platform to shop for products that range from home appliances to books and clothes. It's also one of 11 companies in China with a permit to lease wireless capacity from the nation’s existing carriers. Investors in the company include Russian billionaires Alisher Usmanov and Yuri Milner, as well as Tencent Holdings, Asia’s largest Internet company, which bought a 15 percent stake in March 2014.

Liu lives alone in Beijing.

Milestones
  • 1974 Richard Liu is born in Suqian, China.
  • 1996 Graduates from Renmin University with a degree in sociology.
  • 1998 Establishes 360buy as an electronics shop.
  • 2004 Starts online retailing business and founds JD.com.
  • 2007 Enters logistics and delivery market.
  • 2013 Sells $125 million stake to Prince Alwaleed’s Kingdom Holding.
  • 2014 Tencent Holdings agrees to buy 15 percent stake in JD.com.
  • 2014 Company sells shares in an initial public offering in the U.S.