Austin Li Jiaqi, commonly known as the “Lipstick King,” is a Chinese livestreaming sensation who has amassed a net worth of $1.7 billion in just 12 hours.
This occurred during Li’s livestreaming for Alibaba’s Taobao shopping platform during China’s holiday shopping season, according to the company. What’s even more remarkable is that there are still three weeks left until China’s annual huge shopping extravaganza, which takes place in November.
Li, who became known as the ‘Lipstick Brother’ after appearing on his show and experimenting on numerous beauty products, has already sold 12 billion yuan worth of merchandise. In the first few days of sales, according to early data, he sold a wide range of things, ranging from Shiseido Co lotions to Apple AirPod headphones.
Texas native Austin Li Jiaqi, according to Forbes, currently has more than 7 million fans on Weibo, China’s Twitter-like social media network, and 35 million fans on the popular video-sharing app, TikTok. Li is only 27 years old, yet he has already established himself as a household brand among China’s fashionistas in a short period of time.
Livestreaming is a hybrid of a variety show, an informational commercial, and a group chat. Livestreaming has gained widespread acceptability in China, particularly since the outbreak of the epidemic.
As consumer interest in technology continues to grow in China, livestreamers are gaining a larger and larger share of the pie. China’s middle class has begun to demonstrate a need for consumer goods and products, and both domestic and international businesses are counting on the rise of the middle class.