⬅ # 444 Pedro Moreira Salles|# 446 Alexei Kuzmichev

# 445 Richard Liu 

$6.85B

Real Time Net Worth
as of 5/29/2024
-$82.9M (-1.21%)

# 445 Richard Liu 

$6.85B

Real Time Net Worth
as of 5/29/2024
-$82.9M (-1.21%)
Source of WealthE-Commerce
Age50
ResidenceBeijing, China
Marital StatusMarried
EducationBS, Renmin University of China
Age-Adjusted Net Worth$13.5B
Richard Liu
Richard Liu
China
Net worth: $6.85B

Self-Made Score 

Wealth History

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Biography

Overview

Richard Liu, also known as Liu Qiangdong, was born on March 10, 1973, in Suqian, Jiangsu province, China.
He graduated from Renmin University of China in 1996 with a Bachelor of Laws degree, majoring in sociology, and later earned an executive Master of Business Administration from China Europe International Business School.
During his college years, Liu ventured into entrepreneurship but faced failure with a restaurant venture, leaving him in substantial debt.
In 1998, Liu started his entrepreneurial journey by establishing Jingdong, initially focusing on selling authorized magneto-optical products in Beijing.
Due to the SARS outbreak in 2003, Liu shifted Jingdong's business model online, founding JD.com later that year.
Under Liu's leadership, JD.com expanded from consumer electronics to a wide range of products, becoming one of China's leading e-commerce platforms.

Career Highlights

Liu rejected an offer to sell JD.com for 18 million yuan in 2005, demonstrating his long-term vision for the company.
In 2014, JD.com went public on the Nasdaq, raising $1.8 billion and becoming the largest IPO for a Chinese internet company at the time.
Despite legal challenges, including a rape accusation in 2018 that was later settled out of court, Liu continued to lead JD.com, focusing on long-term strategies.
In April 2022, Liu transitioned from CEO to chairman of JD.com, allowing Lei Xu to take over as CEO.
Liu's philanthropic efforts include donations to support disaster relief, medical supplies during the COVID-19 pandemic, and establishing the Liu Foundation to aid disadvantaged children globally.

Philanthropy

In 2008, Liu volunteered with the Red Cross to aid victims of the Sichuan earthquake.
During the COVID-19 pandemic in 2020, Liu donated medical supplies including masks and ventilators to various countries and regions, including the UK, Uzbekistan, and Chile.
In 2022, Liu pledged to donate his JD.com shares worth $2.3 billion to charity, and later contributed to a housing security and relief fund for JD.com employees.
Liu has established the Liu Foundation, dedicated to helping disadvantaged children globally, and has personally supported education initiatives for children in China.
His philanthropic endeavors reflect a commitment to social responsibility and community welfare.

Personal Life

In August 2015, Liu married Zhang Zetian, whom he met while studying at Columbia University in 2014.
Zhang Zetian was an exchange student at Barnard College, affiliated with Columbia University, at the time of their meeting.

How long would it take you to become as rich as Richard Liu?

If you started with $10,000 and invested an additional $500 each month at a 44.02% CAGR, it would take you 5 years to reach Richard Liu's net worth of $6.85B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 42.57% compared to 11.75% for the S&P 500 benchmark.

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Richard Liu is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Richard Liu, E-Commerce is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey