According to Forbes Real Time Billionaire list, Colin Huang, Founder of Pinduoduo, has overtaken Jack Ma as the second richest person in China:
They are followed by Elon Musk.
This shift happened when Pinduoduo’s share prices surged lately:
Although at a market cap of US$105 billion, Pinduoduo is still only 1/6 the size of Alibaba, the trend is probably worrisome for the latter.
At 40 years old, Huang is 15 years younger than Ma, and still has a long way ahead for him.
Who is ahead of Colin Huang as the richest man in China? Pony Ma of Tencent, a key backer of Pinduoduo. Tencent’s share prices also surged today on news that it is entering ecommerce, again.
