Colin Huang Zheng born on January 1, 1980, is a Chinese businessman, investor, and philanthropist. He is the founder and former CEO of Pinduoduo, which has become the largest agricultural platform in China. Huang also owns at least three other limited liability companies based in the Cayman Islands, including Pinduoduo. As of November 2024, Forbes estimates his net worth to be US$35.3 billion.
Early Life and Education
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| Born | Huang Zheng 1 January 1980 |
| Education | Zhejiang University University of Wisconsin |
| Occupations | Businessman, investor, philanthropist, software engineer |
| Title | Chairman and Former CEO of Pinduoduo |
| Known for | Founding Pinduoduo |
Colin Huang Zheng was born in 1980 on the outskirts of Hangzhou, Zhejiang, to middle-class factory worker parents. He attended Hangzhou Foreign Language School before enrolling at Chu Kuchen Honors College of Zhejiang University at the age of 18, where he studied computer science. During his freshman year, he was honored as a fellow at the Melton Foundation. Huang later graduated with a master's degree in computer science from the University of Wisconsin in 2004.
Business Career
Early Career
Colin Huang Zheng began his career with internships at Google and Microsoft. In 2004, he joined Google as an engineer. In 2006, he returned to China with Kai-fu Lee to help expand Google's services in the country.
After leaving Google in 2007, Huang founded the e-commerce platform Oku, which he later sold for $2.2 million in 2010. His entrepreneurial journey continued to gain recognition as he rose through various rankings. In October 2019, he ranked seventh on the Huron Report. By March 2020, Huang was ranked second in the Huron Global Young Zhuang Sect Self-Made Rich List. In November 2021, he was listed on Forbes' Rich List of Mainland China, securing the sixth position with a net worth of ¥213.2 billion.
Pinduoduo IPO
Colin Huang founded Pinduoduo, a Shanghai-based e-commerce company, in 2015. By 2017, the company generated revenue of 1.4 billion yuan ($280 million), and in 2019, its revenue surged to $4.33 billion (30.14 billion RMB). Pinduoduo went public with an initial public offering (IPO) in the United States in July 2018, raising $1.6 billion in capital. Following the IPO, Huang’s 47% stake in the company was valued at $14 billion, making him the thirteenth richest person in China.
Huang stepped down as CEO of Pinduoduo on 1 July 2020 but remained the chairman of the company. On 17 March 2021, he relinquished his position as chairman and transferred the voting rights of his shares to the Board. The company announced that Huang would pursue "new, long-term opportunities."
Philanthropy
By June 2020, Colin Huang reduced his stake in Pinduoduo to 29.4%, donating 2.37% to a charitable foundation and 7.74% to the Pinduoduo Partnership. Additionally, he donated 2.37% to an irrevocable charity focused on promoting social responsibility development and scientific research. Huang was recognized as the leading philanthropist on the Hurun China Philanthropy List in 2021, pledging US$1.85 billion towards social responsibility initiatives and scientific research.
In addition to his personal contributions, Huang and the Pinduoduo founding team donated 100 million (2.37% of Pinduoduo shares) to the Starry Night Charitable Trust. This donation aims to support fundamental research in biomedical science, agriculture, and food, according to Bloomberg.
Wealth
As of November 2024, Colin Huang Zheng has an estimated net worth of US$35.3 billion, according to Forbes. His wealth primarily stems from his successful founding and leadership of Pinduoduo, which has become the largest agricultural e-commerce platform in China. Huang's financial success has been further enhanced by strategic investments and his philanthropic efforts, which have also bolstered his public profile as one of the leading figures in Chinese business and technology.
Personal Life
Colin Huang Zheng is known for being a relatively private individual. He maintains a low-profile lifestyle despite his significant wealth. Huang is married, but details about his family and personal life are kept out of the public eye. His reserved nature and focus on his work have led to limited public exposure, as he tends to avoid media attention and does not often make public appearances.
Huang has made philanthropic efforts a major part of his life, with a focus on supporting scientific research, social responsibility, and agricultural innovation through donations and investments. These endeavors reflect his commitment to causes beyond personal wealth accumulation, especially in the fields of biotechnology and sustainable agriculture.
References
- Correspondent, I., International Finance Business Desk 3 Min Read and Desk, I.F.B. (2023) Business leader of the week: Meet Colin Huang, billionaire founder of Pinduoduo, International Finance. Available at: https://internationalfinance.com/business-leaders/business-leader-week-meet-colin-huang-billionaire-founder-pinduoduo/ (Accessed: 10 January 2025).
- Roeloffs, M.W. (2024) China’s once-richest person loses $14 billion as temu parent company falls almost 30%, Forbes. Available at: https://www.forbes.com/sites/maryroeloffs/2024/08/26/chinas-richest-colin-huang-loses-14-billion-temu-parent-company-pdd-holdings-shares-revenue-fall/ (Accessed: 10 January 2025).
- TOI World Desk / TIMESOFINDIA.COM / Aug 9, 2024 (no date) Who is Colin Huang, China’s richest person - times of India, The Times of India. Available at: https://timesofindia.indiatimes.com/world/china/who-is-colin-huang-chinas-richest-person/articleshow/112391634.cms (Accessed: 10 January 2025).
