JD.com founder Richard Liu Qiangdong has cashed out nearly US$1 billion from the e-commerce giant he founded since stepping down from the chief executive role in April, according to public filings, prompting speculation over what he may do with the proceeds.
Liu, who has a personal net worth of US$14 billion according to the
Forbes rich list, has sold Nasdaq-listed JD.com stock and Hong Kong-listed JD Health shares worth a combined US$988 million since April, including 15.6 million JD.com shares – worth US$932 million – via a British Virgin Islands-registered vehicle, according to a
filing with the US Securities and Exchange Commission on June 19.