Richard Liu and Germán Larrea come from different worlds. One built an online shopping giant in China. The other runs a copper and railway empire in Mexico. Both are billionaires. Yet their careers, their companies and their fortunes look very different.
This guide puts the two men side by side. You will learn who they are, how their businesses work and how much each one is worth. Wealth figures come from Forbes and other public sources in 2026. They move with stock and metal prices, so treat them as estimates.
Who is Richard Liu?
Richard Liu is the founder and chairman of JD.com. His Chinese name is Liu Qiangdong. Many people call him the “Chinese Jeff Bezos.” The nickname fits because he built a huge online store and a delivery network to match.
Liu was born on March 10, 1973, in Suqian, a city in Jiangsu province. He studied sociology at Renmin University of China. Later he completed an EMBA at the China Europe International Business School. His start was modest. His rise came from steady bets on retail and logistics.
His business story began in 1998. He launched a small electronics business in Beijing called JD Multimedia. In 2004 he opened his first online store and founded JD.com later that year. In 2005 he turned down an offer to sell the company for 18 million yuan. That choice looks bold today.
Growth followed a clear plan. In 2007 JD moved from selling mostly electronics to selling almost every kind of product. It also built its own warehouses and hired its own couriers. Shoppers got fast delivery and a name for genuine goods. In May 2014 JD listed on the Nasdaq and raised $1.8 billion. At the time, it was the largest US listing by a Chinese internet company.
Richard Liu at a Glance
| Year | Milestone |
| 1973 | Born in Suqian, Jiangsu |
| 1998 | Starts JD Multimedia, an electronics business in Beijing |
| 2004 | Opens his first online store and founds JD.com |
| 2007 | Expands to a full-category model |
| 2014 | Nasdaq listing raises $1.8 billion |
| 2022 | Steps down as CEO and stays on as chairman |
| 2023 | Sandy Xu becomes CEO |
| 2025 | JD.com passes RMB1.3 trillion in yearly revenue |
Liu stepped back from the CEO job in April 2022. Lei Xu took over first. Sandy Xu became CEO in May 2023. Liu stayed on as chairman and focuses on long-term strategy.
Under this setup, JD has pushed into new areas such as food delivery. That push has meant heavy spending and a price war with rivals. Liu has defended the move in public.
He is also known for giving. In February 2022 he pledged to donate JD.com shares, then worth about $2.3 billion, to charity.
Who is Germán Larrea?
Germán Larrea Mota-Velasco is the chairman and CEO of Grupo México. It is the largest mining company in Mexico and one of the biggest copper producers in the world. Larrea was born in Mexico City in 1953 or 1954. He studied at Universidad Anáhuac.
Grupo México dates back to 1942. Larrea has led it for about three decades. He is known as a deal maker. Under his watch the group built up Southern Copper, which runs large mines in Peru and Mexico. It also bought the US miner Asarco in 1999. Those moves turned a Mexican miner into a global player.
He did not stop at mining. Grupo México also owns the largest and most profitable railway network in Mexico. It has an infrastructure arm too, which covers construction, drilling services and energy. This mix brings steady cash from freight when metal prices dip.
Larrea keeps a low profile. He gives few interviews and stays out of the spotlight. His best known hobby is horse racing. He owns and breeds Thoroughbreds under the name St. George Stable. One of his horses won the Apple Blossom Handicap in 2021.
He still makes big headlines. In October 2025 he made a proposal to buy Banamex, one of the best known banks in Mexico. The group has also faced criticism over mine safety and environmental incidents, including the 2014 river spill in Sonora.
Germán Larrea at a Glance
| Detail | Germán Larrea |
| Born | 1953 or 1954, Mexico City |
| Main role | Chairman and CEO, Grupo México |
| Education | Universidad Anáhuac |
| Core industries | Copper mining, rail, infrastructure |
| Style | Private, long-term, hands-on |
| Hobby | Thoroughbred racing |
How do their companies compare?
JD.com and Grupo México sell almost nothing in common. JD sells goods to hundreds of millions of shoppers. Grupo México digs metal out of the ground and moves freight by rail. Still, the comparison shows two very different ways to build a fortune.
JD.com vs Grupo México: Key Numbers
| Feature | JD.com | Grupo México |
| Home base | Beijing, China | Mexico City, Mexico |
| Roots | Shop in 1998, online in 2004 | Founded in 1942 |
| Main business | E-commerce, logistics, retail tech | Copper mining, rail, infrastructure |
| 2025 revenue | RMB1.309 trillion (about $187.2 billion) | About $18.18 billion |
| 2025 revenue growth | 13.0% | 12.4% |
| Profit picture | Retail margin of 4.6%, big losses in new businesses | EBITDA near $9.95 billion, earnings near $4.92 billion |
| Customers | Over 700 million annual active users | Miners, factories, freight clients |
| Founder’s role | Liu is chairman, not CEO | Larrea is chairman and CEO |
| Biggest risk | Price wars and costly new ventures | Metal price swings and community conflict |
The first thing to notice is size. JD brings in roughly ten times more revenue than Grupo México. It is a giant retailer with a giant logistics arm. JD Retail earned RMB1.126 trillion in 2025 and RMB51.4 billion in operating profit. JD Logistics added RMB217.1 billion in revenue, up 18.8%.
The second thing is profit style. Retail runs on thin margins. Mining, when copper prices are high, runs on fat ones. Grupo México’s EBITDA was about 55% of its revenue in 2025. JD Retail’s operating margin was 4.6%. These are different measures, so do not compare them one to one. Still, the gap in business style is clear.
JD also carries a heavy cost for growth. Its new businesses brought in RMB49.3 billion in 2025, up 157.3%. But they lost far more than they earned. Marketing spend jumped about 75% to roughly RMB84 billion. JD even posted a net loss in the fourth quarter of 2025.
Grupo México is in a stronger mood. Copper prices rose more than 20% year on year, and demand from power grids, electric vehicles and data centers keeps climbing. In the first nine months of 2026, revenue reached $17.6 billion and EBITDA reached $10.6 billion. The group has also said its spending plans could pass $27 billion this decade.
Strengths and Weak Spots
JD.com
- Huge customer base and strong brand trust
- Own logistics network that speeds up delivery
- Fast growth in services and advertising
- Heavy losses in food delivery and other new bets
Grupo México
- One of the largest copper reserve bases in the world
- High margins when metal prices are strong
- Rail and infrastructure that smooth out the ups and downs
- Exposure to metal prices and local protests
Who has the higher estimated net worth?
Germán Larrea is far richer. The gap is not close.
Forbes released its 2026 Billionaires List on March 10. It put Larrea and his family at No. 30 with $67.1 billion. A year earlier his fortune was $28.6 billion, so it more than doubled. Richard Liu sat at No. 806. Forbes puts his wealth at roughly $5.3 billion to $5.6 billion this year, and about $5.5 billion in October 2026.
Net Worth Snapshot for 2026
| Detail | Richard Liu | Germán Larrea |
| Forbes 2026 list rank | No. 806 | No. 30 |
| Forbes estimate | About $5.3 billion to $5.6 billion | $67.1 billion |
| Change from 2025 | Slight rise, still far below past highs | Up about 134% |
| Main source of wealth | JD.com | Grupo México |
| Other estimate | Forbes real-time near $5.5 billion in October | Bloomberg: $68.4 billion in January, $72.7 billion in February |
On these numbers, Larrea is worth about twelve times more than Liu. That is a huge gap, even though JD earns many times more revenue than Grupo México.
Why is the gap so big?
Several reasons explain it.
- Profit, not sales, drives value. A mining and rail group that earns high margins can be worth more than a retailer with thin ones.
- The copper boom. Higher copper prices lifted Grupo México’s value in a short time, and the Larrea family holds a large share of the group.
- JD’s struggles. Price wars and costly new ventures hurt JD’s stock. Forbes reported that Liu’s fortune fell by half in 2023, to about $4.9 billion.
- Giving. Liu pledged part of his shares to charity in 2022, which cut the wealth he keeps.
A note on accuracy. Forbes sets its yearly list using stock prices on one day, March 1. Bloomberg and Forbes real-time pages update daily. That is why one man can have several numbers at once. For the latest figure, check a live billionaire tracker.
Frequently Asked Questions
Who is richer, Richard Liu or Germán Larrea?
Germán Larrea is richer. Forbes put him near $67.1 billion in 2026 against about $5.5 billion for Richard Liu.
How much is Richard Liu worth?
Forbes estimates Richard Liu’s net worth at about $5.5 billion in late 2026. The number changes with JD.com’s share price.
How much is Germán Larrea worth?
Forbes listed Germán Larrea and family at $67.1 billion in March 2026. Bloomberg showed even higher figures early in the year.
What company does Richard Liu own?
Richard Liu founded JD.com and is its chairman. He owns a share of the company but no longer serves as CEO.
What does Germán Larrea’s company do?
Grupo México mines copper and other metals, runs Mexico’s largest railway network and has an infrastructure arm. Larrea is its chairman and CEO.
Which company makes more revenue, JD.com or Grupo México?
JD.com makes far more. It reported about $187.2 billion in 2025 against about $18.18 billion for Grupo México.
Is Germán Larrea the richest person in Mexico?
No. Carlos Slim holds the top spot. Larrea is second on the Forbes 2026 list.
Final Thoughts
Richard Liu and Germán Larrea show two paths to great wealth. Liu built a consumer brand from a small shop and grew it into a retail and logistics giant. Larrea guided a family mining group into a world leader in copper and rail. One earns billions in sales with thin margins. The other earns fewer sales with thick ones.
On net worth, the answer is clear. Larrea leads by a wide margin, and the copper boom has widened the gap. Liu still sits among the richest people in China and runs one of its most important companies. Since both fortunes tie to market prices, check a live tracker for the newest numbers before you quote them.
