This story appears in the November 3, 2014 issue of Forbes Asia.
The quicksilver of the Chinese Internet may even exceed what the Web
bestows elsewhere. Especially when an outfit from China enjoys a U.S.
stock listing. Look no further than Liu Qiangdong
and his Amazon-like online shopping site JD.com. Though it lost money
in the first half, it rocketed on the share market after a May IPO. Even
with a 22% comedown from its peak, JD.com’s $35 billion valuation is
sufficient to lift Liu from 98th on last year’s China Rich List to 10th
this time, with $7.1 billion.
Click here for the full list of China’s Richest
JD.com, like many independent e-commerce sites in China, will
continue to face volatile prospects, not just because of the changing
fortunes of Chinese consumers but also because of how the Web itself
continues to consolidate. Pushing that latter shift are the three
dominant figures on the 2014 list, the founders of Alibaba, Baidu
and Tencent. Effectively megaportals, the three companies are
swallowing up Internet players and functions, looking abroad and in the
process proving reliably profitable.
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