Temu owner Colin Huang makes N7.02trn ($4.37bn) in 2025, becomes richer than Dangote, Otedola and others

This development means he has become richer than even Aliko Dangote, the Nigerian business magnate who owns the massive Dangote Petroleum Refinery and Africa’s richest man with an estimated net worth of $23.3 billion.

Huang’s financial growth has also placed him ahead of several other prominent Nigerian billionaires who were featured on the 2025 Forbes billionaires list.

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Among these Nigerian business leaders is Mike Adenuga, the chairman of telecommunications giant Globacom, who currently holds the position as Africa’s fifth-wealthiest individual with a net worth of $6.8 billion. Also on the list is Abdulsamad Rabiu, chairman of the diversified BUAGroup conglomerate, who ranks sixth in Africa with a fortune valued at 5.1 billion.

Completing this list of Nigerian billionaires is Femi Otedola, chairman of First Bank of Nigeria’s holding company, who appears as the fourth Nigerian on the prestigious list with a personal wealth of $1.5 billion.

Raised in Hangzhou, Huang showed academic promise early on, attending the elite Hangzhou Foreign Language School at 12. He later earned a degree from Zhejiang University and pursued a master’s in computer science at the University of Wisconsin.

Huang began his professional journey at Google’s US headquarters in 2004, where he worked as a software engineer and project manager. Two years later, he returned to China to help launch Google China.

In 2007, he founded Ouku.com, a consumer electronics e-commerce site, which he sold in 2010. He went on to start Leqi, a marketing platform for sellers on major Chinese e-commerce sites, and later explored gaming with role-playing titles on WeChat.

Despite retiring from active leadership at just 33 due to a health scare involving an ear infection, Huang, now 45, remains a central figure in China’s tech landscape. His wealth is largely tied to his 25% stake in Shanghai-based Pinduoduo, one of China’s top online marketplaces.

In 2024, Pinduoduo reported revenues of 394 billion yuan (about $54.7 billion), driven by continued momentum in both domestic and global markets. Though Huang stepped down as CEO in 2020 and as chairman in 2021, he retains his ownership through two British Virgin Islands entities—Walnut Street Investment and Walnut Street Management.

His fortune has seen some volatility, dipping by $680 million on May 7 alone as PDD shares dropped 2.3% to $108.76 on the Nasdaq. However, the stock remains up about 12% year-to-date, despite being down 18% from its peak in March 2025.

Temu, the company’s international platform launched in late 2022, became a breakout success in the US, briefly topping app download charts in 2023. Its rise was fueled by a high-octane marketing campaign—including consecutive Super Bowl ads—and a direct-to-consumer model offering ultra-low prices from Chinese suppliers.

Although US user engagement declined from 27% in September 2023 to 19% in April 2025, a recent Morgan Stanley report projects Temu will reach profitability this year, a development likely to boost investor sentiment further.

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Beyond business, Colin Huang has increasingly devoted himself to research in food and life sciences. Following his retirement, he donated 12.8% of his PDD stake—worth over $10 billion at the time—to charitable and institutional entities, including a 2.4% contribution to an irrevocable charitable trust and 7.7% to the Pinduoduo Partnership, which supports scientific exploration.

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