Pinduoduo CEO Huang Zheng's personal wealth rose to $25.7 billion, ranking him as the third richest man in the Chinese mainland and the fifth richest man in China (Lee Shau-kee and Li Ka-shing ranked third and fourth), according to Forbes real-time billionaires list.
It's worth noting that according to the Hurun Billion's first quarter 2020 wealth list, Huang Zheng did not make it to the top 10 billionaires in China, ranking 12th in China with RMB 128 billion in assets, with his personal assets soaring by RMB 54 billion in less than a month.
Currently Pony Ma's most recent wealth is $45.8 billion and Jack Ma's is $41.8 billion. That means Pony Ma is now the richest man in China.
As of March 31, Pinduoduo was traded at $36.03 with 4.65 billion shares of equity, equivalent to ADS 1,162.5 million and a market capitalization of $41.9 billion at the time.
In terms of shareholdings, Huang Zheng's personal wealth at the time was $18.7 billion, comparable to Hurun's first-quarter wealth figures.
Since entering the month of April, Pinduoduo shares continue to hit record highs, as of April 25 U.S. stock closing, Pinduoduo quoted $49.57, up 37.58% in the month interval, the latest market capitalization of $57.6 billion, the market value of less than a month net increase of $15.7 billion.
Huang Zheng's personal wealth at the time was $25.7 billion based on shareholdings, which matches Forbes' figures.
In other words, in less than a month, Huang Zheng's personal wealth has increased by a net $7 billion, equivalent to RMB 49.6 billion.
The annual report shows that as of the end of 2019, Pinduoduo held cash, cash equivalents and short-term investments totaling 41.06 billion yuan, of which 5.77 billion yuan was in cash and cash equivalents and 35.29 billion yuan was in short-term investments.
