• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock

1

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

2

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

3

Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
TechPinduoduo

A Former Google Employee Just Became One of China’s Richest People

By
Alice Tozer
Alice Tozer
Down Arrow Button Icon
By
Alice Tozer
Alice Tozer
Down Arrow Button Icon
July 27, 2018, 7:01 AM ET
Add Fortune on Google for similar content.

Colin (Zheng) Huang, 38, started working for Google as an engineer in 2004.

He stayed with the search giant for three years, and has described his time there as “incredibly valuable.”

“Google gave me far more than I contributed,” Huang has written on his personal blog.

Fast forward to present day, and the one-time Silicon Valley newbie is now one of China’s richest people, amassing a fortune worth $13.8 billion with the U.S. trading debut of his e-commerce company, Pinduoduo, on Thursday.

That sum makes him China’s 12th wealthiest individual, according to Bloomberg. Forbes, meanwhile, ranks him the nation’s 13th richest person. Worldwide, he’s one of the 100 richest people, according to the Bloomberg Billionaires Index.

Shanghai-based PDD, as the company is known, listed on Nasdaq with the stock closing at $26.70 and rising as much as 44% on its first day of trading on New York’s second biggest stock exchange. The IPO, which raised $1.6 billion, is the fourth-largest in the U.S. so far this year.

Huang owns a 46.8% stake in his company, which is now valued at $29.6 billion. A Chinese e-commerce newcomer that has given the likes of Alibaba and JD.com a run for their money, Huang founded PDD in 2015.

The PDD model is one of group-buying, with a focus on lower-income customers and discounts for groups of people who buy in bulk. Toilet paper and bed sheets sell for under $5. Huang likes to use the analogy of Costco (value for money) shaking hands with Disneyland (fun), to describe his brainchild. American publications have often dubbed PDD “the Groupon of China.”

Over the past 12 months, the rate of U.S. listings by Chinese firms has tripled, according to Bloomberg. PDD itself is one of a trio of nascent Chinese tech firms, together with Cango and Aurora Mobile that began their IPO book builds last week. With concern increasingly mounting over a trade war between the U.S. and China, however, investors are watching on tenterhooks.

Huang holds a master’s degree in computer science from the University of Wisconsin. He plans to donate some of his PDD shares to charities he will create himself. On his blog he writes, “Pinduoduo will always dedicate itself to doing the right things, creating value for our society and making this world a better and happier place.”

About the Author
By Alice Tozer
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Current price of Ethereum for June 24, 2026
Personal FinanceEthereum
Current price of Ethereum for June 24, 2026
By Joseph HostetlerJune 24, 2026
2 hours ago
Taktile cofounders Maik Taro Wehmeyer (left) and Maximilian Eber (right) stand side by side, smiling at the camera.
Startups & VentureVenture Capital
Exclusive: Taktile raises $110 million from Goldman Sachs, Tiger Global to automate high-stakes financial decisions 
By Camila Grigera NaónJune 24, 2026
2 hours ago
Sarah Youngwood, EVP and CFO at Nasdaq.
AICFO Daily
Nasdaq’s CFO says leaders must learn AI—not just their teams
By Sheryl EstradaJune 24, 2026
2 hours ago
steve
Commentary250 Years of Innovation
Steve Case: America was built by entrepreneurs. Here’s how we keep that edge for the next 250 years
By Steve CaseJune 24, 2026
2 hours ago
(left to right) Andrew Berman, Tal Peretz, and Vitor Balocco
AIVenture Capital
Exclusive: Vinod Khosla wanted ‘every available dollar’ of Runlayer’s funding round. It just raised $30 million to govern the agent workforce
By Lily Mae LazarusJune 24, 2026
3 hours ago
t
CommentaryWhite House
Trump mistakes the bully pulpit for bullying leadership — history’s villains were never heroes
By Jeffrey Sonnenfeld and Steven TianJune 24, 2026
3 hours ago

Most Popular

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
1 day ago
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
8 hours ago
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
Banking
Markets tumble worldwide as Fed resets expectations: $400 billion wiped off SpaceX stock
By Jim EdwardsJune 23, 2026
1 day ago
Current price of oil as of June 23, 2026
Personal Finance
Current price of oil as of June 23, 2026
By Joseph HostetlerJune 23, 2026
1 day ago
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
Real Estate
Texas and Charlotte used to build huge McMansions—now they're copying the California design tricks they once mocked
By Sydney LakeJune 22, 2026
2 days ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.