Colin Huang: The rise of China’s new richest man and the Temu phenomenon
Colin Huang, the founder of Temu and Pinduoduo, has recently been crowned as China’s richest man, with a net worth of $48.6 billion, according to the Bloomberg Billionaires Index. His rise to the top marks a significant shift in China’s billionaire rankings, as he surpasses long-time titleholder Zhong Shanshan, the bottled-water magnate behind Nongfu Spring.