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Shanghai’s e-commerce billionaire, Colin Huang, has surpassed Jack Ma, the main founder of Chinese heavy Internet group Alibaba, as China’s richest man of the moment, for the billionaire real-time Index of Forbes on Sunday.
On Friday, Pinduoduo’s shares led by Huang rose 6% to an absolute h8 of $87.five8 on the Nasdaq. Seven, four years old, now charged $four and fifty-four billion, number 2 in China only for Tencent Holdings CEO Ma Huateng, Pobig apple Ma, which charged about $five and five billion. Jack Ma, who resigned from the position of president of Alibaba last year to major in philanthropy, was charged $4.30 million.
The design of more than 300% in Pinduoduo’s shares over the past year allowed Huang, a former Google engineer, to approach the wealth gap between him and Google’s co-founders and former chief Larry Page ($64.3 billion) and Sergey Brin ($62.6 billion). ) (Click here on a verbal presentation I had with Huang in 2018 on Google.) In one position, he overtoid former Google CEO Eric Schmidt (only $15.1 billion).
Pinduoduo, founded in 2015, has one of China’s largest online retail corporations in its short life, with a market position capitalization of $10 trillion. Successful investors in the combined apple come with Tencent, Sequoia China and Gaorong Capital (formerly Babig applean Capital); Board members come with Sequoia China’s founding partner Neil Shen, who ranked No. 1 on the Forbes Midas 2020 list announced in April and is himself a billionaire. Pinduoduo’s stock market position functionality also helped Gaorong co-founders Zhang Zhen and Gao Xiang appear on this year’s Midas list.
Prior to founding Pinduoduo, Huang founded Xibig appleoudi Studio to expand and represent online games and Ouku.com, an apple that combined a form of net network for Jstomer electronics and appliances, according to a biography published this year through Pinduoduo. Huang began his career at Google’s U.S. headquarters. In 2004, he then moved to China as a component of the team that created Google China.
Huang trained as a knowledge scientist and presented h at foreign meetings such as the ACM SIGMOD conference and the foreign conference on device learning, the dossier says. Huang holds a bachelor’s degree in computer science from Zhejiang University and a master’s degree in computer science from the University of Wisconsin-Madison.
Despite all its market position capitalization, Pinduoduo has been a futile company. It lost $582 million in the 1st quarter directly compared to $92four million in revenue.
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I’m editor-in-chief and head of Forbes magazine’s Shanghai office. Now in my 1 year at Forbes, I’m compiling forbes China’s Rich List and Taiwan’s Rich List. I was…
I’m editor-in-chief and head of Forbes magazine’s Shanghai office. Now in my sixteenth year at Forbes, I’m compiling Forbes China’s Rich List and Taiwan’s Rich List. A while ago I was a correspondent for Bloomberg News in Taipei and Shanghai and the Asian Wall Street Journal in Taipei. I’m the best friend from Massachusetts, I speak Mandarin fluently, and I graduated from the University of Vermont and the University of Wisconsin at Madison.