So there is an IT support billionaire whose name is Liu Qiangdong. He also goes by the name Richard Liu. In fact, some call him China’s Jeff Bezos, for his rich status in China’s e-commerce community. But now, in Minnesota, someone accused Liu of rape. Also, the accusation was enough that they arrested a tech billionaire guru.
However, despite the arrest, Minneapolis police say very little about this. In fact, they didn’t even file charges against him. A Chinese media source asked the police about the pending case. One officer said their goal is to provide services for the accuser while protecting Mr. Liu’s privacy. They soon let Liu go. In fact, on Monday he was on a flight back to China. By Tuesday, he was at his desk JD.com.
Liu founded and made his fortune through JD.com, his e-commerce website. They say it’s Alibaba’s biggest Chinese rival. I say they’re both rivals to America’s Amazon and Ebay, but before I get all into a patriotic rant, let’s go back to this case. JD.com immediately came to their founder’s defense. They said he was falsely accused and even police found no evidence. Liu’s lawyer is confident Minnesota won’t charge him. But why was Liu in Minneapolis to start with? Because he’s pursuing a doctorate of business at University of Minnesota.
So why am I talking about a Chinese IT service billionaire on a Boston computer service shop blog? They don’t call Liu the Jeff Bezos of e-commerce for nothing. Forbes magazine ranks his net worth at $10 billion. Also, JD.com is very popular on the Nasdaq stock exchange. But after they arrested a tech billionaire for rape, stock prices went down almost 6%. This brought their stocks to a 19-month low. But now that this seems to be over, for now, maybe stocks will go up. However, will this be the end of this or could this drag on?