Chinese tech tycoon Richard Liu of JD.com donates US$2 billion amid Beijing’s pursuit of ‘common prosperity’

  • Richard Liu Qiangdong announced during the Lunar New Year holiday that he was donating 62.4 million class B shares to a third-party foundation
  • Liu is one of several tech executives to make large charitable donations amid an ongoing campaign to rein in Big Tech and Beijing’s ‘common prosperity’ drive

JD.com CEO Richard Liu Qiangdong pictured on January 9, 2018 after signing an agreement during a meeting between French leaders and business leaders in Beijing. Photo: AFP
Richard Liu Qiangdong, founder and chief executive of Chinese e-commerce juggernaut JD.com, is giving more than US$2.2 billion in stock to charity, making him the latest Chinese tech billionaire to donate an unprecedented sum amid Beijing’s efforts to rein in the power of Big Tech and boost “common prosperity”.

On Wednesday, the third day of China’s week-long Lunar New Year holiday, JD.com said in an filing to the US Securities and Exchange Commission that it has been notified by its chairman Liu that “he will donate 62,376,643 Class B ordinary shares of the company to a third-party foundation for charitable purposes”.

Print option is available for subscribers only.
SUBSCRIBE NOW
Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved.