JD.com founder Richard Liu Qiangdong has cashed out nearly $1 billion from the e-commerce giant he founded since stepping down from the chief executive role in April, prompting speculation over what he may do with the proceeds, according to public filings, reports the South China Morning Post.
Liu, who has a personal net worth of $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 $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.
In April and May, 49-year-old Liu sold 8.84 million shares in subsidiary JD Health worth about HK$440 million ($56 million).