Bloomberg Billionaires Index

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# 40 Colin Huang $28.2B

Random fact: Suffered from an ear infection and retired at age 33.

Overview

Huang is the founder and chairman of Pinduoduo, a Chinese e-commerce operator backed by Tencent. The Shanghai-based company, known as PDD, has more than 628 million active buyers and reported revenue of 30.1 billion yuan ($4.2 billion) in 2019. Pinduoduo became publicly traded in the U.S. in 2018.

As of :
Last change +$28.2M ( +0.1%)
YTD change +$8.60B ( +43.8%)
Industry Technology
Biggest asset PDD US Equity
Citizenship China
Age 40
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Colin Huang's net worth of $28.2B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Huang's fortune is derived from his 29.4% stake in Pinduoduo, a Chinese e-commerce operator. The Shanghai-based startup, known as PDD, had more than 628 million active buyers as of March 2020, according to a company presentation.

He holds the shares through two British Virgin Islands-based holding companies, Walnut Street Investment and Walnut Street Management, according to the company's June 30, 2020 13G filing.

The valuation was updated on July 2, 2020 to reflect a decrease in Huang's shareholding. In a July 1, 2020 letter published on the company website, Huang explained that he was stepping-down as chief executive officer. He also noted the donation of a 2.4% stake in Pinduoduo to an irrevocable charitable trust as well as the transfer of a 7.7% stake to the Pinduoduo Partnership to support scientific research. A further 2.7% stake was transferred to an early investor. The removal of each of these three stakes from the net worth calculation led to a decrease in the valuation of more than $10 billion.

The value of his cash assets is based on an analysis of dividends, insider transactions, taxes and market performance.

Joshua Goldman-Brown, a spokesperson for PDD, declined to comment on Huang's net worth.

Biography

Birthdate: 1/1/1980
Family: Unknown, No children
Education: Zhejiang University, University of Wisconsin-Madison

Colin Huang was raised in Hangzhou, China. He was identified as a bright child and attended the prestigious Hangzhou Foreign Language School at the age of 12. He went on to study at Zhejiang University and then got a master's degree in computer science from the University of Wisconsin.

After finishing his study, he started his career at Google's headquarters in 2004 as a software engineer and project manager. He relocated to China in 2006 and was part of the team that set up Google China.

Huang founded his first company in 2007, an e-commerce site called Ouku.com that sold consumer electronics and mobile phones. He sold it in 2010 and then started Leqi, which helped companies market their services on websites like Alibaba’s Taobao or JD.com. He was also involved in a gaming company that offered role playing games over WeChat.

He became sick and decided to retire in 2013 when he was just 33. While recovering, he developed the idea for PDD in part by studying Alibaba and Tencent Holdings. Huang raised $8 million from a group of investors led by Banyan in May 2015 and launched the app to help bring together China's two largest internet companies.

PDD raised about $100 million in 2016, giving the company the additional resources to attract more merchants and customers. The company had an initial public offering in the U.S. in July 2018.

Milestones
  • 2004 Huang finishes his master's degree at the University of Wisconsin.
  • 2004 Starts working at Google headquarters as a software engineer.
  • 2007 Starts his first company, an e-commerce site called Ouku.com.
  • 2011 Starts Xinyoudi Studio to develop and operate online games.
  • 2013 Retires due to an ear infection.
  • 2015 Founds Pinduoduo.
  • 2016 PDD raises about $100 million to fund growth.
  • 2018 Pinduoduo become publicly traded in the U.S.