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JD.com founder Liu’s wealth surges to $6.1 bn on IPO

 

Richard Liu, chief executive officer of JD.com Inc, China’s second-largest e-commerce site, ended the day of the company’s debut with a net worth of $6.1 billion, according to the Bloomberg Billionaires Index.

JD.com’s initial public offering was the biggest ever for a Chinese internet company in the US, according to data compiled by Bloomberg. The Beijing-based company sells products such as home appliances, books and clothes to more than 47 million customers. It uses a business model similar to billionaire Jeff Bezos’s Amazon.com, managing inventory and selling directly to consumers.

The founder, also known as Liu Qiangdong, holds about 556 million shares after selling 13.9 million shares in the IPO.

“Liu comes from a normal background but is a very aggressive person,” Li Yujie, a Hong Kong-based analyst at RHB Research Institute Sdn, said in a phone interview. “JD.com stands to benefit from its cooperation with Tencent, especially now that Tencent has injected all its e-commerce business and will help it develop.”

No Amazon

Liu, 41, founded the business in 2004 after distributing magneto-optical products in Beijing, according to the company’s prospectus. He has a bachelor’s degree in sociology from the People’s University of China in Beijing, as well as an executive MBA degree from the China Europe International Business School.

“I neither wish to become Amazon nor Dangdang,” Liu said in a speech at the People’s University last month, referring to another Chinese e-commerce website.

“Copying business models of any other companies is doomed to fail. JD is always JD.”

The idea of steering shoppers online came after the SARS pandemic hit parts of China in 2003, when Liu was forced to close down his magneto-optical stores.

Chinese IPOs

U.S. investors snapped up almost $1 billion in Chinese IPOs last year, a fivefold increase from 2012, data compiled by Bloomberg show. JD.com said on its website it’s China’s largest online direct sales company in terms of transaction volume last year, with a 46.5 percent share of the market in the country.

JD.com’s filing came after competitor Alibaba Group Holding Ltd. filed this month for a U.S. IPO in a sale that could raise about $20 billion.

Ma Huateng – Internet enterpreneur

Ma Huateng – Internet Enterpreneur

Ma Huateng is a Chinese entrepreneur who founded Tencent Inc., one of the largest internet companies in China, and he is the fifth richest man in China with an estimated net worth of US$ 10.2 billion.

In 2007 Time magazine called him one of the world’s most influential people. As of April 2014, he is, by Time magazine, one of the most influential person in the world.

Born in 1971, Huateng is a native of Chaoyang, Guangdong province and a graduate from the Computer Science Department of Shenzhen University. After he earned his B.S. in software engineering in 1993, he joined China Motion Telecom Development, Ltd., where he worked on the Internet paging system development. Then Huateng went on to work for Shenzhen Runxun Communications Co., Ltd., where again he was engaged in research and development.

Ma and four of his friends founded Tencent in 1998.

The company’s first product, an instant message tool named Tencent QQ, became very popular in China. Tencent soon expanded to become “China’s answer to AOL”. He currently holds the position of Chairman and CEO of Tencent Holdings, one of the top three Chinese internet companies along with Alibaba and Baidu. By the end of September 2012,Tencent’s QQ instant messaging had achieved a total of 784 million active users, an increase of 10% from the previous year.

Tencent’s mobile messaging application, WeChat, has surpassed 200 million active users by the end of 2012.Other diverse services include web portals, e-commerce, and multiplayer online games. Online games such as Legend of Yulong and Legend of Xuanyuan boosted revenue by more than half, up to US$ 5.1 billion, with a US$ 1.5 billion profit margin.

 

Li Hejun – The future of super-thin solar panels

Li Hejun

Li Hejun is the highest-ranking debut from China on last year’s billionaires list and chairs Hanergy Holding Group.

He is the fourth richest man in China, with a net worth $10.9 Billion.

After earning his initial fortune by selling electronics products, Li built his own business by setting up a hydropower station and became rich in the process. He then shifted his business focus to the photovoltaic industry, where he invested 21 billion yuan (US$3.42 billion) to establish a base for the research and development of thin-film solar elements and two power generation stations in his hometown Heyuan, a prefecture-level city in the southern Chinese province Through a series of acquisitions, the company has become one of the world’s largest producers of thin-film solar panels and equipment.

He also owns one of the world’s largest privately held hydro-power plants, located in western China.

In mid-2013 he has formally entered the ranks of the world’s billionaires after a big run-up in the shares of his Hong Kong-listed solar energy arm.

Robin Li – The Man Who’s Beating Google

Robin Li – The Man Who’s Beating Google

Robin Li is a Chinese Internet entrepreneur and currently the third richest man in China.

He co-founded the Chinese search engine Baidu and is ranked as the third richest man in mainland China with a net worth of US$ 11,100 billion.

Since founding Baidu in January 2000, Li has turned the company into the largest Chinese search engine, with over 80% market share by search query, and the second largest independent search engine in the world. On 5 August 2005, Baidu successfully completed its IPO on NASDAQ, and in 2007 became the first Chinese company to be included in the NASDAQ-100 Index. He appeared in CNN Money’s annual list of “50 people who matter now” in 2007.

With Baidu’s success, China stands proudly with the United States, Russia and South Korea as one of the four countries in the world to possess its own core search engine technology.

At the 2009 Baidu Technology Innovation Conference (Baidu World), Robin shared his vision of Box Computing as the way of the future. He has substantially advanced the theoretical framework of China’s Internet sciences, and has become a driving force behind the overall technology development of the entire Chinese IT industry.

While satisfying Chinese-language search needs at home, Robin has also proactively sought to internationalize Baidu. Currently, Baidu is vigorously preparing itself for entrance into the broader international market. As a pioneer and leader of China’s Internet industry, he has received honors including “CCTV Key Figure in China’s Economy,” “The Top 30 Figures in China’s 30 Years of Reform,” “China’s Most Imaginative Entrepreneur,” and many others.

On several occasions, U.S.-based magazines such as BusinessWeek and Fortune Magazine have designated Robin’s as “Best Business Leader in the World” and “China’s Most Influential Business Leader.” Robin was also named by Time Magazine as one of the “World’s Most Influential People” in 2010.

Robin received a Bachelor of Science degree in information management from Peking University in 1991, and a Master of Science degree in computer science from the State University of New York at Buffalo in 1994. He currently acts as vice chairman of the Internet Society of China (ISC), and is a visiting professor at Wuhan University.

 

Wang Jianlin – China’s Richest Businessman

Wang Jianlin – China’s Richest Businessman

Wang Jianlin is the Chairman of the Dalian Wanda Group, one of China’s largest real estate developers, and also the world’s largest operator of movie theaters after the purchase of AMC Entertainment Holdings for US$ 2.6 billion in 2013.
In 2013 Forbes ranked him the 128th richest person in the world, with US$ 8.6 billion. In August 2013, he is listed as the wealthiest person in China with a net worth of US$ 14.2 billion by Bloomberg.
His company owns 9.03 million square metres of investment property, 49 Wanda Plazas, 26 luxury hotels, 86 cinemas, 40 department stores, and 45 karaoke centres around China. The company became the world’s largest theatre owner in 2012 when it acquired AMC Theatres.
In September 2013 he announced plans to build the world’s largest studio pavilion at Oriental Movie Metropolis which include a 10,000 square meter studio and an underwater stage.
His estates empire is now expanding outside China.
He is planning of developing hotels in Europe and America. The hotel investments include US$1.1 billion to develop a five star hotel in London, and US$1 billion for a five star hotel project in New York.
Wanda signed a memorandum of understanding with Indian tycoon Anil Ambani’s Reliance Group to set up a joint venture for a strategic long-term partnership according to a statement from Reliance. Among the first ventures of the new partnership will be integrated township projects including commercial buildings and residential apartments, hotels and retail space in Navi Mumbai and Hyderabad. The two projects could ultimately be worth in the region of $1bn-$1.5bn.
In early 2014 he acquired a landmark building in Madrid for €260 million ($358.6 million).

Wang wants to break also into English ­football to add to the Southampton company’s incredible portfolio and is believed to be lining up a £175million bid for Saints that current owner and chairwoman Liebherr is ready to accept.

Wang, a fan of folk music, has been known to sing Tibetan and Mongolian folk songs at Wanda corporate annual meetings.