Richard Liu’s Life Story is one of the most Inspirational Stories in China
The Incredible Story of Richard Liu: From Teenage Delinquent to Recognized Businessman
Richard Liu Qiangdong is a Chinese entrepreneur and the founder of JD.com, the largest online retailer in China. He has been ranked as one of the wealthiest people in China, with a net worth of $14.4 billion as of July 2018. Liu is also an angel investor and venture capitalist who has invested in over 100 startups. In China.
Richard Liu’s Life Journey to Billionaire Status
Liu Qiangdong’s life story is one of the most inspirational stories in China. He started from a humble background and eventually became the wealthiest man in China.
He was born in Jiangsu province, located on the eastern coast of China. His parents were farmers, and he had to work on their family farm when he was young. He did not have many opportunities to study because his family could not afford it, and he had to help them with their farm work every day.
However, his parents always encouraged him to study hard and do well at school, even if it meant they would have less money for food or other necessities for the family. They always said that education was the only way out of poverty for themselves and their children.
Richard Liu’s foray into the E-commerce Industry with the founding of Alibaba
The founding of Alibaba, a Chinese e-commerce company, has been one of the significant events in the history of the internet. It has been an eventful journey for founder and CEO Richard Liu.
The company was founded in 1999 by an 18-year-old student named Jack Ma, who became one of China’s most successful entrepreneurs. Ma had been seeking an English name for his company that could be used internationally and settled on Alibaba. He chose “Alibaba” because it was one of his favorite childhood stories, and he wanted the company to be connected with “always happy.”
In 2000, Yahoo invested $1 billion in Alibaba for a 40% stake in the company. In 2004, Yahoo sold its share back to Alibaba for $7 million because it felt.