- October 27, 2021
Colin Huang who goes by the business name Huang Zheng is one of the self-made billionaires from China. Recent reports suggest a drop of billions from Huang’s net worth, read more to find out about Huang’s $27 billion loss in the span of two years, Huang Zheng’s net worth as now, age, business, wife, divorce & affair.
Colin Huang, one of the business tycoons of China, who was listed as one of the self-made billionaires suffers a huge drop in his company shares, which has affected the company in billions. Huang has lost more wealth than any other person in the world states Bloomberg Asia.
Colin Huang owns one of China’s largest e-commerce sites namely Pinduoduo Inc. As China introduces the crackdown policy on private enterprises, the business market has been affected in trillions. The decision was taken under the supervision of Chinese president Xing, creating threats among the business persons from a country that holds one of the strongest economies.
The government has introduced new bans on app or internet selling, fines, and overhaul on the market. China puts forth its intention to let the corporate champions run a capitalist market but only under the terms and conditions of China’s ruling Communist Party. Ultimately, the crackdown on business policy is the government’s way to showcase its hold and power.
The reforms in policy have hit primarily the tech companies. Alibaba one of the e-commerce site was penalized a fine of $2.8 billion for accusations of trying to run a monopoly market. Many companies in China have witnessed losses of billion post the new implications, Colin Huang’s Pinduoduo Inc. comes as the company to bear the maximum loss.
Colin Huang was born on January 1, 1980. His parents were factory workers and he belonged to a middle-class family. Huang was born and raised in Hangzhou, China. He graduated with a bachelor’s and master’s degree in computer science from Zhejiang University and the University of Wisconsin respectively.
Huang completed his Master’s degree in 2004 and joined Google the same year as an intern. After three years of service, Huang left Google and launched his own e-commerce site namely Ouku in 2007. The site was later sold for $2.2 million after just three years of launch.
Huang launched his next e-commerce site namely Pinduoduo Inc. in 2015 which was put for public offering in 2018. The stake was valued in billions, marking Huang as the thirteenth richest person in China. Colin holds a net worth of $35 billion as of now.
Collin Huang has not yet disclosed his relationship status. He prefers his personal life away from the media limelight.