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Founder of PDD Holding Company, Colleen Huang Its wealth increased by $13.8 billion in one year, thanks to the fact that due to the global economic slowdown, more and more people are turning to Temun and Pinduoduo, which can be considered e-commerce platforms at discounted prices.
Huang, who founded PDD in 2015 and stepped down as CEO in 2020, was named the fastest-rising billionaire on this year’s Hurun Rich Listening list. He jumped seven places to become the third richest person in China, with a net worth of $37.2 billion.
Jack MaCompetitor Alibaba fell one place from its 2022 ranking to tenth place.
Richard LiuThe founder of e-commerce giant JD.com and his wife, Zhang Zetian, have seen their wealth decline by $6.2 billion to $8.26 billion since last year, according to Hurun List.
Zhong Shanshan, founder of bottled water brand Nongfu Spring, took first place for the third year in a row with a fortune of $62 billion. Pony Ma, founder of Tencent, came in second place, with a fortune of $38.6 billion.
According to the report 179 people were removed from this year’s billionaires list, which lists China’s richest people with a net worth of at least 5 billion yuan. 15% of the “declining” billionaires were active in the real estate sector, which is currently suffering from a very large debt crisis in the country.
Wang Jianlin, owner of Dalian Wanda Group and former richest man in China, saw his wealth decline by $7.3 billion to rank 89th with a fortune of $6.47 billion.
Cover image source: Getty Images
