Richard Liu Qiangdong created a wave of online sales off the backs of one of the scariest viruses to ever hit Beijing: SARS. When all 12 of his magneto-optical parts stores in Beijing were threatened with extinction, Richard took the bull by the horns and started an online store to sell his goods so that his business could stay afloat. That business he named after the last character his and his girlfriend’s name: Jingdong. Later shortened to just JD.com, the website has grown to add all sorts of goods for sale from fashion to car parts, fun electronics, and beyond.
Seeing this enormous growth, WeChat investor TenCent saw the potential growth and approached Liu Qiangdong with a proposal to invest 15% of his company in exchange for $215 million. With this kind of valuation, Jingdong was now worth in excess of one billion dollars: enough to safely list his company on the stock exchange. And so Richard Liu Qiangdong did just that, he listed JD.com under the ticker “JD” on the Nasdaq market with a valuation of around $44 billion after its IPO, and ever since that day his net worth has floated upwards of $11 billion. Walmart, in fact, bought a 12% stake in his company.
But all of this started from Liu Quiangdong’s continued dedication to work and never giving up himself despite what other people valued him at. Perhaps it was his old boss and coworkers’ treatment of him which made him realize that he was worth more; we’ll never know. But one thing that we do know for sure is that business mogul is now one of Business of Fashion’s top 500 most influential people and has invested nearly $400 million into Farfetch.com: the online place to buy luxury goods from 7,000 different sellers. See This Article for additional information.