In 2020 there are many changes that occur including in terms of business and economy. This change also affects the income of the richest people in the world including in China. If before we knew Jack ma the founder of Alibaba group as the richest person from China, now Jack Ma’s position has been replaced by a child born in 1980.
Citing Forbes, Colin Huang, replaced Alibaba Group founder Jack Ma, from the list of the second richest people in China. Colin has a fortune of US $ 45.4 billion. Colin Huang is the founder of Pinduoduo e-commerce. His wealth increased after the company he led recorded a 6 percent rise in shares to an all-time high of US $ 87.58 in Nasdaq trading in June.
Pinduoduo has been in business since 2015, and in a short time became one of the largest online retail businesses in China. Its market capitalization reached US $ 104 billion. Besides Huang, a number of investors also enjoyed the share increase experienced by Pinduoduo, such as Tencent, Sequoia China, and Gaorong Capital (officially known as Banyan Capital); Board members include Sequoia China founding partner Neil Shen. Pinduoduo’s stock performance also helped Gaorong’s co-founders, Zhang Zhen and Gao Xiang, to make the Midas List this year.
Huang was a former Google employee. Before spending three years as an engineer at Google, Huang was previously an intern at Microsoft. “These three years have been very valuable to me. Google gives me far more than my contribution, “he said.
Become the Richest in the Country
With a fortune of US $ 45.4 billion, Huang is currently only losing to Tencent Holdings CEO, Ma Huateng. Ma’s wealth is estimated at around US $ 51.5 billion. While Jack Ma’s wealth is estimated to be close to Colin Huang, which is around US $ 43.9 billion.
An increase in Pinduoduo’s shares of more than 300 percent last year led Huang, a former Google engineer, to narrow the gap between his wealth and former Google boss Larry Page who were estimated to have assets of US $ 64.3 billion and Sergey Brin of US $ 62.6 billion.
Based on Forbes billionaire real time data, Amazon founder Jeff Bezos is still at the top of the richest people in the world, with a fortune of US $ 160.4 billion. In second place is Microsofot’s founder, Bill Gates, who has a wealth of US $ 108.7 billion. In third place is Bernard Arnault, CEO of luxury fashion goods producer, Louis Vuitton Moet Hennessy with a fortune of US $ 105.7 billion.
Meanwhile, Facebook boss Mark Zuckerberg trailed the three conglomerates in fourth place with a fortune of US $ 81.3 billion.
Will the position of the world’s richest people change over the next few months? Can be. This pandemic changed everything including the list of people with the most income in the world.