Billionaire Colin Huang has a net worth of $52.5 billion. He is the founder of PDD Holdings which is an e-commerce company in China. The company was initially registered in Cayman’s Islands and later moved to Dublin.
Colin Huang stepped down as chairperson of the company in march 2021 but he still remain the largest shareholder of PDD Holdings.
PDD Holdings launched a shopping website known as Temu in September 2022. This was to compete with Shein which is led by another Chinese billionaire Sky Xu.
Temu is an online marketplace operated by PDD Holdings. Temu has operations in USA, United Kingdom, South Africa, Italy, Spain, New Zealand, Australia, Germany and France. The website has over 100 million active users in the USA alone and experiences 420 million monthly visits.
Temu runs Television ads and mobile apps. Temu has an intense workplace culture. Management has been accused of encouraging 996 working hour system. Employees work from 9 am to 9 pm for 6 days a week. Critics call it modern day slavery.
The billionaire also founded ouku.com (e-commerce) and Xinyoudi (online games). Colin Huang has a Master’s degree in computer science from University of Wisconsin in the United States of America.
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