Colin Huang

Colin Huang Zheng is a Chinese entrepreneur, investor, philanthropist and the founder of PDD Holdings, the parent company of Pinduoduo. Established in 2015, Pinduoduo is one of China’s largest e-commerce platforms, particularly noted for its innovative group-buying model and focus on agriculture. As of November 2024, Huang has an estimated net worth of $35.3 billion, ranking him among the wealthiest individuals in the world.

Huang led Pinduoduo to rapid success, including a successful initial public offering on NASDAQ in 2018, raising $1.6 billion. At the time, his 47% stake was valued at $14 billion. He stepped down as CEO in 2020 and as chairman in 2021, entrusting his voting rights to the board to explore long-term opportunities. Pinduoduo has since expanded internationally, launching the low-cost e-commerce platform Temu in 2022 to compete in the US market. The platform has gained significant traction and is considered a competitor to Shein.

Before founding Pinduoduo, Huang built a notable career in technology. He earned a master’s degree in computer science from the University of Wisconsin-Madison in 2004, after completing his undergraduate studies at Zhejiang University. He worked at Google as an engineer and later helped expand its services in China. In 2007, he left Google to establish Oku, an e-commerce site he sold in 2010 for $2.2 million.

Huang is also a leading philanthropist. He has donated billions of dollars, including significant shares of Pinduoduo, to support scientific research, education, and sustainable development. His contributions include funding the Starry Night Charitable Trust and pledging $1.85 billion for social responsibility and research initiatives.

Born in Hangzhou, Zhejiang, in 1980, Huang grew up in a middle-class family with parents who worked in factories. He studied computer science at Zhejiang University, where he was selected as a fellow of the Melton Foundation, before pursuing advanced studies at the University of Wisconsin-Madison.

Colin Huang Zheng was born on 1 January 1980 in Hangzhou, Zhejiang, China, into a middle-class family. His parents were factory workers, and he attended Hangzhou Foreign Language School. In 1998, he enrolled at Zhejiang University’s Chu Kochen Honors College to study computer science. 

During his undergraduate studies, Huang was selected as a Melton Foundation fellow, an opportunity that provided him with international exposure and broadened his perspectives. After graduating, he pursued a master’s degree in computer science at the University of Wisconsin-Madison, completing it in 2004.

Huang began his professional career with internships at Microsoft and Google. In 2004, he joined Google in the United States as an engineer, working on significant projects and gaining experience in the tech industry. In 2006, he returned to China with Kai-Fu Lee to assist in expanding Google’s operations in the country. In 2007, Huang left Google to start his entrepreneurial journey, founding Oku, an e-commerce platform. He successfully sold Oku in 2010 for $2.2 million, marking his first major business achievement.

In 2015, Huang founded Pinduoduo, a Shanghai-based e-commerce platform that introduced a unique group-buying model allowing consumers to purchase products at discounted rates by forming buying groups. Initially focusing on agricultural products, the platform aimed to connect farmers directly with consumers, reducing inefficiencies in the supply chain. Pinduoduo quickly gained popularity and by 2017 had achieved revenue of 1.4 billion yuan. 

In 2018, Pinduoduo went public on NASDAQ, raising $1.6 billion through its IPO. Huang’s 47% stake in the company at the time was valued at $14 billion, making him one of China’s richest individuals.

Under Huang’s leadership, Pinduoduo continued its rapid growth, generating $4.33 billion in revenue in 2019. In July 2020, Huang stepped down as CEO but retained the role of chairman. In March 2021, he resigned as chairman and transferred his voting rights to the board, signalling a shift in focus toward exploring long-term opportunities. Despite stepping back from direct management, he remains a significant shareholder and influential figure in the company.

Huang has also made substantial philanthropic contributions. He donated billions of dollars in Pinduoduo shares to charitable foundations, including the Starry Night Charitable Trust, which supports research in biomedical sciences, agriculture, and food security.

In 2021, he pledged $1.85 billion for social responsibility and scientific research, earning recognition as a leading philanthropist in China.

In 2022, Pinduoduo expanded internationally with the launch of Temu, a budget-focused e-commerce platform targeting the United States. Temu quickly gained traction, leveraging strategies similar to those that drove Pinduoduo’s success in China.

As of 2024, Huang’s net worth is estimated at $35.3 billion, making him one of the wealthiest individuals in the world. He continues to influence Pinduoduo’s strategic direction as a major shareholder while focusing on long-term opportunities and global development initiatives.

Colin Huang Zheng envisions a world where technology bridges gaps and improves lives. Through his ventures like Pinduoduo, he has focused on creating affordable access to goods, promoting agriculture, and connecting consumers directly with producers. His emphasis on innovation aims to make e-commerce accessible to all, particularly underserved communities. Beyond business, Huang is committed to philanthropy, supporting scientific research, education, and sustainable development. His vision extends to fostering long-term solutions for global challenges, ensuring technology benefits society at large. By prioritising affordability, innovation, and responsibility, Huang strives to drive meaningful change in business and beyond.

In 2019, he ranked seventh on the Hurun Report's list of China's richest individuals. The following year, he secured the second position on the Hurun Global Young Self-Made Rich List. Forbes ranked him sixth among China’s wealthiest individuals in 2021, with an estimated wealth of ¥213.2 billion. In the same year, Huang topped the Hurun China Philanthropy List after pledging $1.85 billion to support social responsibility and scientific research.

Huang’s innovative leadership at Pinduoduo, one of China’s largest e-commerce platforms, earned him accolades for transforming the e-commerce landscape through affordability and group-buying models. His philanthropic contributions, including significant shares donated to charitable trusts such as the Starry Night Charitable Trust, reflect his commitment to advancing scientific research and addressing global challenges.

As of August 2024, Huang’s net worth reached $48.6 billion, making him the richest person in China and cementing his position as a prominent figure in global business and philanthropy. His work continues to inspire through its focus on innovation, responsibility, and long-term impact.

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