Colin Huang Zheng (Chinese: 黄峥; pinyin: Huáng Zhēng, born 1 January 1980) is a Chinese businessman, investor, and philanthropist.[2][3][4] He is the founder and former CEO of the e-commerce company Pinduoduo, which is now the largest agriculture platform in China.[5] Huang is also the owner of at least three other limited liability Cayman companies, including Pinduoduo.[6][7][8]
According to Forbes, Huang has an estimated net worth of US$35.3 billion as of November 2024.[9]
At the age of 18, Huang began studying computer science at Chu Kuchen Honors College of Zhejiang University.[12] During his freshman year, he was selected as a fellow at the Melton Foundation.[13] Huang graduated with a master's degree in computer science from the University of Wisconsin in 2004.[14]
Business career
Early career
Huang interned at Google and Microsoft.[15][14][9] In 2004, he became an engineer at Google.[15] In 2006, he returned to China with Kai-fu Lee to expand Google services in China.
After resigning from Google in 2007, Huang started the e-commerce site Oku. He sold it for $2.2 million in 2010.[7] In October, he ranked seventh on the 2019 Huron Report.[16] In March, he ranked second in the 2020 Huron Global Young Zhuang Sect Self-Made Rich List.[17] In November, he was named to the 2021 Forbes Rich List of Mainland China, ranking sixth with a wealth of ¥213.2 billion.[18]
Pinduoduo IPO
Huang founded and led the Shanghai-based company Pinduoduo in 2015.[19][20] Pinduoduo had a revenue of 1.4 billion yuan ($280 million) in 2017. In 2019, the company generated a revenue of $4.33 billion US dollars (30.14 billion RMB).[citation needed] The company became publicly traded following an initial public offering in the United States in July 2018, raising $1.6 billion in investment backing capital.[21] After the public offering was floated on NASDAQ, Huang's 47% stake in Pinduoduo was valued at $14 billion, making him the thirteenth richest person in China.[22][14][23]
On 1 July 2020, Huang stepped down as CEO of Pinduoduo but retained his titular position as the company's chairman.[24][25] On 17 March 2021, Huang stepped down as chairman and entrusted the voting rights of his shares to the Board.[26] The company said Huang will pursue "new, long-term opportunities."[27][28][29]
Philanthropy
By June 2020, Huang reduced his Pinduoduo stake to 29.4% by donating 2.37% to a charitable foundation and 7.74% to the Pinduoduo Partnership.[30][31] He also donated 2.37% to an irrevocable charity to promote social responsibility development and scientific research. Huang was named the leading philanthropist on the Hurun China Philanthropy List in 2021 after pledging US$1.85 billion for social responsibility projects and scientific research.[3][32]
According to Bloomberg, Huang and the Pinduoduo founding team have donated 100 million (2.37% of Pinduoduo shares) to the Starry Night Charitable Trust to "support fundamental research in biomedical science, agriculture, and food."[33][34]
