Grateful billionaire gifts ₹1 lakh cash to villagers every year after they paid for his education

Every year, billionaire Richard Liu Qiangdong rewards villagers in his hometown with cash and gifts, honouring their past support during his education.

Chinese billionaire Richard Liu Qiangdong has promised to distribute cash and gifts to villagers in his hometown in eastern China every year. The promise has become an annual practice for Liu ahead of Lunar New Year as he offers all villagers above 60 years of age, 10,000 yuan (US$1,400) in cash and sends gifts, including food, clothes and home appliances, worth thousands of yuan, to each family.

Billionaire Richard Liu Qiangdong's gift-giving tour began in 2016 when he took his wife to the village.(X/@ChinaInPerson)

The billionaire does this to thank the people of the village who donated 500 yuan (US$70) and 76 eggs for him when he went to Beijing to study at a university in the early 1990s.

Now 50, Liu is the founder and chairman of JD.com, the country’s leading e-commerce website and his net worth is 49.5 billion yuan (US$6.8 billion).

Journey of gratitude

Liu's gift-giving tour began in 2016 when he took his wife to the village. Every year, the villagers prepare for his annual visit and are grateful that they are taken care of by him.

A 71-year-old villager told South China Morning Post that said even if Liu would not give them presents in the future, he was still grateful. “He has no obligation to do that. His money is also earned through hard work. There are so many families in the village. He has made great contributions to the village. We will not forget him in the next decade," he said

Helped by the village

The billionaire has revealed that he studied in the village school and got admission in the prestigious China Renmin University in 1992.

This was his first time leaving the village and his family was so poor that he had to rely on his fellow villagers to fund his university education. “My fellow men’s help is the starting point for me to step towards the world,” he said.

The annual gift giving has earned praise on social media with many labelling him "a good entrepreneur with a conscience."