A former Google employee Colin Huang has been declared as the second richest person in China. His e-commerce business, Pinduoduo faced an increase in sales.
According to the international news website Forbes, Colin Huang has defeated Tencent’s Pony Ma in the ranking of top richest persons. Alibaba’s Jack Ma remains first. Forbes had valued Colin Huang at $45.4bn (£36.4bn).
Colin Huang has worked as an intern at Microsoft and worked as an engineer at Google for three years.
He blogged in 2016, “These three years were incredibly valuable to me,”
“Google gave me far more than I contributed.”
According to Forbes, a slip in Pinduoduo’s value has since given Mr. Ma back the second spot.
Mr. Huang founded an e-commerce company Pinduoduo in 2015. The company gained an impressive recognition in less time in China. Its sale increased nearly to 65 million from 50 million per day during coronavirus pandemic.
The company’s novel features include team buying, where customers gather together to buy more units at a lower price.
Customers are also offered to play games on the website and they are sometimes given gifts as well.
Mr. Huang has written in his 2016 blog that some early Google employees had become wealthy in less time.
“They suddenly got too much money, lost incentives to work, and started to look for fun and new careers,” he wrote.
“Many years passed and they wasted their most precious time when they were most likely to have other outstanding achievements.”