PDD Co-Founder Colin Huang Adds $4.3 Billion in Wealth
- Chinese e-commerce firm founder’s fortune now at $32.8 billion
- Stock gained as much as 19% after revenue tops estimates
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Colin Huang’s wealth surged $4.3 billion Tuesday as shares of PDD Holdings Inc., the Chinese e-commerce company he founded, rose in New York trading.
The Shanghai-based company reported better-than-projected revenue of 52.3 billion yuan ($7.2 billion) in the quarter ended June 30, beating analysts’ average estimates. Its US-traded shares climbed 15% Tuesday to close at their highest level since March.