With an estimated wealth of $13.6 billion, Colin Huang (also know as Huang Zheng), an ex-Google engineer, founder and CEO of online discounter Pinduoduo, has taken top spot on the China’s Richest Billionaire Millennials List 2018 by Hurun, followed by Beijing ByteDance Technology’s founder and chief executive Yiming Zhang and DJI’s founder Frank Wang Tao.
Zhang Bangxin (net worth: $5.2 billion), co-founder and CEO of TAL Education Group, a Beijing-based provider of tutoring services for Chinese students in core academic subjects, is ranked third on the list. So who are they and how did they obtain such massive amounts of wealth at such a young age?
China’s Richest Billionaire Millennials
- Colin Huang
Source: Chinese social e-commerce platform Pinduoduo.
Net Worth: $13.6 billion
Chinese social e-commerce platform Pinduoduo (NASDAQ:PDD), is a kind of Facebook-Groupon mashup that Colin Huang believes could revolutionize e-commerce.
- Yiming Zhang
Source: Beijing ByteDance Technology.
Net Worth: $9.4 billion
- Frank Wang Tao
Source: DJI (Dà-Jiāng Innovations)
Net Worth: $6.5 billion
- Zhang Bangxin
Source: TAL Education Group (NYSE: TAL)
Net Worth: $5.2 billion
TAL Education Group is engaged in providing after-school tutoring programs for primary and secondary school students in China.
- Cheng Wei
Source: Didi Chuxing (“DiDi”, formerly known as Didi Kuaidi)
Net Worth: $2.6 billion
- Wang Qicheng (Jack Wong) and wife Wu Yan (Lilian Wu)
Source: Hakim Unique Group of China.
Net Worth: $2.45 billion
Hakim Unique Group operates in the Information Technology, asset management, entertainment, health, and financial holding sectors. Jack Wong holds Bachelor Degree and Master Degree from Zhejiang University; and EMBA at PBC School of Finance, Tsinghua University. Lilian Wu holds Master Degree from Zhejiang University and Peking University. In November 2002, Lilian Wu established Hakim Unique along with her husband Jack Wong.
- Jihan Wu
Source: Bitmain Technologies
Net Worth: $2.4 billion
Jihan Wu, co-founder of Bitmain Technologies Ltd, the world’s dominant producer of cryptocurrency mining chips.
- Su Hua
Source: Kuaishou (or Kwai), a leading short video platform in China
Net Worth: $2.16 billion
- Xie Jia
Source: SZ DJI Technology Co
Net Worth: $2.1 billion
China’s SZ DJI Technology Co Ltd, the world’s largest maker of non-military drones.
- Peng Guoyuan
Net Worth: $1.73 billion
Peng Guoyuan, chairmen of education group NWY