Pinduoduo founder is now 3rd richest man in China

Billion dollar man: Colin Huang, CEO of PDD Holdings (who owns both Temu and Pinduoduo) is now the 3rd richest person in China. His wealth grew by $13 billion in 2023 to total $37 billion.

How big are these companies?

• 📱 Pinduoduo is known for its group buying games that boosted growth in users. In early 2022, it had 751 million users.

• 📈 Temu is one of the biggest names in fast fashion with 100 million app users (40% coming from the US)