Colin Huang’s ascent is one for the history books: In just six months, his fortune swelled by $25 billion — one of the biggest gains among the world’s richest people.
His Pinduoduo Inc., a Groupon-like shopping app he founded in 2015, has become China’s third-largest e-commerce platform, with a market value of more than $100 billion. In the first quarter, as the coronavirus pandemic caused most of the nation’s economy to grind to a halt, PDD’s active users surged 68 percent and revenue jumped 44 percent, the company said in May.
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