PDD’s low-profile founder Colin Huang has moved up three places in the Hurun wealth rankings to become China’s second-richest billionaire, followed by Tencent founder Pony Ma and ByteDance founder Zhang Yiming, according to the latest report from Hurun Research Institute. Huang’s fortune stands at $53 billion based on mid-January 2024 values, an increase of 71% from a year earlier, thanks to PDD’s domestic and international business successes. Huang’s wealth growth has allowed him to jump to 24th place on the global rich list, up from 39th a year prior. [Hurun Research Institute]

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