Temu founder Colin Huang has made incredible amount of money in less than 10 years

It’s hard to imagine just how much money you have to make to even get close to a country’s top 20 richest people, but Colin Huang was able to do it in a very short time.

Now, when it comes to the richest people in the world, people often think of Elon Musk or Jeff Bezos, Mark Zuckerberg - and rightly so, as these guys in the tech industry bring in the big bucks.

But some people kind of fly under the radar, and one such person is none of other than Colin Huang.

According to Forbes’ billionaire list, he ranks as 27th in the world and his journey to this position is quite impressive.

With an estimated worth of around $48-50 billion, he recently overtook China’s previous richest person, bottled water tycoon, Zhong Shanshan. Shanshan held the top spot since April 2021.

Colin Huang recently overtook China's richest person.(VCG/VCG via Getty Images)

So how did he do it?

Well, the former Google engineer eventually started his own company, Pinduoduo, an e-commerce platform known for selling dirt-cheap products with massive promotions.

This resulted in great success pretty quickly after launching in 2015, as his net worth peaked in 2021 at a whopping $71.5 billion.

That is too much money to even imagine if I'm honest.

However, while his wealth increased during Covid, like soooo many businessmen and... well rich people in general, the meteoric rise wouldn’t continue.

According to reports, his fortune came crashing down 87% in the span of a year. This has been attributed to the slowing global pandemic alongside China’s abrupt crackdown on the country’s private sector.

According to Forbes’ billionaire list Huang ranks as 27th(Visual China Group via Getty Images)

While it is very, very, very unlikely someone who has been on the richest persons ever list would go broke, it likely did put a smile on Huang’s face when things started to turn around.

According to a Fortune report, Huang’s PDD Holdings Inc. staged a comeback, admittedly not to the same heights as before but still pretty damn impressive.

This has been attributed to his business expanding outside of China under the Temu brand name. As well as this, changing shopping habits in China has been good for the company.

But it hasn’t been all roses in the story as Huang has drawn protests from suppliers for driving prices down so much, which admittedly I find a little hard to get annoyed about, but hey.