China's Tech Moguls See $80 Billion of Wealth Evaporate in 2021 [Business News Network (BNN) (Canada)]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: Business News Network
The country's 10 richest tech tycoons lost $80 billion in combined net worth in 2021, according to the Bloomberg Billionaires Index, amid widescale crackdowns by Chinese regulators. The drop represents almost a quarter of their total wealth and is the largest one-year decline since 2012, when the index started tracking the world's richest people. Pinduoduo Inc. founder Colin Huang lost the most this year -- $42.9 billion, or two-thirds of his fortune -- as shares of the e-commerce platform plunged nearly 70%. Alibaba Group Holding Ltd.'s Jack Ma, who has been keeping a low-profile since authorities clamped down on his sprawling business empire, has seen his wealth cut by about $13 billion. Few people better embody this year's wealth roller coaster than Didi Global Inc. founder Cheng Wei. In the weeks before Didi's U.S. listing in June, investors snapped up stakes in secondary-market trades, pushing the ride-hailing giant's valuation to $95 billion and sending the value of found
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PDD
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- 3/20/24 - Beat
PDD
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- 4/25/24 - Form 20-F
- 3/27/24 - Form 144
- 3/26/24 - Form 144
- PDD's page on the SEC website