Colin Huang, the founder behind Pinduoduo and Temu, overtakes bottled water tycoon Zhong Shanshan as China's richest person
Posted on AllSides August 8th, 2024
From The Center
After several moderately successful ventures in gaming and e-commerce, Colin Huang got sick and retired. At one point, the young entrepreneur stayed home for a year thinking about his next move. The former Google engineer eventually started Pinduoduo, an e-commerce platform known for selling dirt-cheap products with massive promotions, in 2015. He quickly ascended the ranks of the world’s richest people, with his net worth peaking at $71.5 billion in early 2021. Like many so-called Covid billionaires, his fortune collapsed just as fast as it was made, tumbling 87% in...
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