China billionaire gifts cash to villagers who helped fund his education years ago. Full story

The billionaire’s annual gift-giving began in 2016, when he visited the village with his wife, Zhang Zetian.

Richard Liu Qiangdong, the billionaire founder and chairman of JD.com, has once again demonstrated his commitment to his hometown of Guangming Village in Suqian, Jiangsu Province, by announcing a new round of generous gifts ahead of the Lunar New Year.

This year, Liu pledged to give 10,000 yuan (US$1,400) in cash to every individual aged 60 and above in the village. Additionally, he promised to distribute gifts, including food, clothing, and home appliances, valued at thousands of yuan for each household.

Liu’s annual tradition stems from his gratitude to the villagers who supported him when he left for Beijing to attend China Renmin University in 1992. In the early 1990s, his fellow villagers pooled 500 yuan (US$70) and 76 eggs to help him fund his university education.

“My fellow men’s help is the starting point for me to step towards the world,” Liu once recalled, acknowledging the impact their generosity had on his journey from a rural upbringing to becoming the founder of one of China’s leading e-commerce platforms.

The billionaire’s annual gift-giving began in 2016, when he visited the village with his wife, Zhang Zetian. Over the years, the scale of his contributions has grown significantly. According to a farmer surnamed Xu, the village commission notified residents to prepare for Liu’s visit on January 8, 2024, asking them to provide household registry documents and identity cards to facilitate the distribution.

Xu noted that his parents, both over 60, were entitled to receive 20,000 yuan (US$2,700) from Liu this year. Reflecting on Liu’s previous visit, Xu remarked, “Liu came to our village last year and gave us down jackets and food. I saw him up close—he is handsome and vigorous. All of us are thankful for him.”

A 71-year-old villager expressed similar gratitude, stating, “Even if Liu doesn’t give us gifts in the future, we are still grateful. He has no obligation to do this, and his wealth is hard-earned. His contributions to the village are immense, and we won’t forget him for decades to come.”

Liu spent his early yearsin Guangming Village, completing his primary and secondary education there. Before attending university, he had rarely left the rural area. His family’s financial struggles made him reliant on the collective support of his community to pursue higher education.

Now aged 50, Liu’s wealth was estimated at 49.5 billion yuan (US$6.8 billion) as of April 2023, according to the Hurun Global Rich List, placing him 427th among the world’s richest individuals.

While Liu’s acts of generosity have been praised on social media, with many hailing him as a “good entrepreneur with a conscience,” some sceptics questioned whether his gestures were motivated by publicity.

“He provided real help for the elderly, which is far more convincing than any words,” one online observer commented.