Richard Liu Qiangdong is undeniably one of the wealthiest self-made men in China; Richard Liu is the founder and CEO of JD.com, which is worth roughly $11 billion according to some estimates. As it stands, it’s one of the most successful online businesses on the planet. That being said, he wasn’t born successful or with a lot of money; in fact, growing up his family was quite poor. Having said that, though, Richard Liu Qiangdong managed to get himself through college and earned a degree in sociology from Renmin University in 1996.
However, after college he realized that his degree might not lead to a worthwhile job; at least, it wouldn’t lead to a high paying one. Because of that, he began learning computer programming and started working as a freelance coder. He then got am EMBA from the China Europe International Business School. This eventually put him on the track to success; he held several different positions at Japan Life before moving on to found JD.com using his extensive skills in computer programming and business. Liu’s coding skills let him create the website himself, while his EMBA and experience in Japan Life also let him take control over the business side of JD.com.
This wasn’t his first attempt at a business, however; he originally started a restaurant, but that failed pretty quickly. Richard Liu Qiangdong learned from this, though; he says that the main decision that led to the failure of the business was that he only dedicated two hours a week to it. He then set up a series of stores named Jingdong, which proved somewhat successful; by 2003 it had 12 locations across China. However, a SARS outbreak made it dangerous to have face to face contact with customers. Click Here to learn more.
This led to Richard Liu Qiangdong shuttering each of the locations and deciding to start an online business. This eventually became JD.com. The online company ended up becoming the largest retailer in China, and offers delivery within 20 hours to 97% of customers; it also provides 57% of his customers delivery within 6 hours. As it stands, Richard Liu’s story is one of rags to riches.