Aug 09, 2024 03:38 PM
BUSINESS
Temu’s Billionaire Founder Becomes China’s Richest Person Again
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Colin Huang, now 44, has become China’s richest person, according to the Bloomberg Billionaires Index. Photo: Bloomberg
(Bloomberg) — 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.
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