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Sep 17 - chinese billionaire....has fortune chopped off by $27 billion



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 1 month ago '09        #1
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messy marv stan  topics gone triple plat - Number 1 spot x72
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Sep 17 - chinese billionaire....has fortune chopped off by $27 billion
 

 
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Colin Huang, the founder of Chinese e-commerce platform Pinduoduo Inc, has lost more wealth this year than anyone else in the world

Huang's fortune has dropped by more than $27 billion, according to the Bloomberg Billionaires Index, after the company's stock plunged as China cracked down on its internet giants

That's the biggest decline among the 500 members of the index, much larger even than the roughly $16 billion lost by China Evergrande Group Chairman Hui Ka Yan, whose real estate empire is struggling under a pile of debt


It's the starkest example of how the tide has turned for China's billionaire class as President Xi Jinping calls for "common prosperity" and reins in the country's private-sector companies. Shares of Pinduoduo, or PDD, have fallen more this year than either Alibaba Group Holding Ltd or Tencent Holdings Ltd


PDD is "more vulnerable to the crackdown compared to those peers with mature and profitable models" like Alibaba and Tencent, said Kenny Ng, a securities strategist at Everbright Sun Hung Kai Co in Hong Kong. "That's the main reason for the stock performance lagging behind other tech companies."

A representative for PDD didn't respond to requests for comment


Pinduoduo's American depositary receipts have dropped 44% this year, compared with a 33% decline for Alibaba's ADRs. Tencent's shares have slid 20% this year in Hong Kong.

Huang, who owns 28% of PDD, founded the company in 2015 and quickly built it into an e-commerce giant by pioneering community buying. PDD's annual active users climbed to 788 million in December, exceeding the 779 million users at Alibaba's online marketplaces


The company's market value reached a peak of $178 billion before falling to about $125 billion. It reported its first quarterly net profit as a public company last month.

Huang, who's now worth about $35 billion, quit his role as chief executive officer last year and stepped down as chairman in March
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41 comments
 

Top 10 most propped recently  1 month ago '17        #2
Coffee  topics gone triple plat - Number 1 spot x2
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USA, baby.






But China letting Chinese know ‘Ain’t finna be no Chinese Zucks, no Chinese Bezos, baby. We ain’t having none of these Capitalist-Emperors in the Middle Kingdom


Last edited by Coffee; 09-17-2021 at 11:14 PM..
+25   

 1 month ago '16        #3
Ghostface Killa  topics gone triple plat - Number 1 spot x1
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Communist gonna communism




Bruh, I'd be sick if I lost that much money because my govt is jealous of my fortune
+22   

 1 month ago '16        #4
Knucklez 
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i thought this was gonna be jack ma
+7   

 1 month ago '04        #5
nwking  topics gone triple plat - Number 1 spot x3
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Did his life change at all No, he's alright it's not like. He went fr 50billion to 1 million dollars.
+3   

 1 month ago '21        #6
nocomment  topics gone triple plat - Number 1 spot x1
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 nwking said
Did his life change at all No, he's alright it's not like. He went fr 50billion to 1 million dollars.
thats really not the point
+18   

 1 month ago '15        #7
Kdub31 
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And you still see videos of Chinese people living in poverty with all the “tax” money they take.
+11   

 1 month ago '17        #8
92baby 
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 Coffee said
USA, baby.






But China letting Chinese know ‘Ain’t finna be no Chinese Zucks, no Chinese Bezos, baby. We ain’t having none of these Capitalist-Emperors in the Middle Kingdom
The Chinese may be right in that regard
+9   

 1 month ago '17        #9
92baby 
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 Kdub31 said
And you still see videos of Chinese people living in poverty with all the “tax” money they take.
Nah these cats on here praise the Chinese let em
+6   

 1 month ago '04        #10
nwking  topics gone triple plat - Number 1 spot x3
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 nocomment said
thats really not the point
I mean does anybody really care

 1 month ago '08        #11
get_ate 
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 Kdub31 said
And you still see videos of Chinese people living in poverty with all the “tax” money they take.
And you still see videos of American people living in poverty with all the “tax” money the U.S. government doesn't take from the uber-rich.
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Top 10 most propped recently  1 month ago '19        #12
aaf192020  topics gone triple plat - Number 1 spot x3
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[QUOTE=messy marv stan;57866865]

"A representative for PDD didn't respond to requests for comment."



That nxgga ain't trying to get "re-educated"!!!! One peep and he'd be disappeared in 5 minutes.
+6   

 1 month ago '16        #13
theidiotlamper 
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hopefully coinbase weathers the storm
+1   

 1 month ago '04        #14
strat 
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A lot of "wealth" is a mirage. Unless you liquid you living off hype and loans and alot of these "billionaires " aint liquid or cant sell their stock due to laws
+13   

 1 month ago '15        #15
Kdub31 
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 get_ate said
And you still see videos of American people living in poverty with all the “tax” money the U.S. government doesn't take from the uber-rich.
My point is all governments are made up of greedy mfs and more tax money won’t automatically raise the quality of life.
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 1 month ago '06        #16
SKDontPlay 
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 Knucklez said
i thought this was gonna be jack ma
Have they found that guy yet or is it officially a wrap for buddy?
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 1 month ago '16        #17
Knucklez 
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 SKDontPlay said
Have they found that guy yet or is it officially a wrap for buddy?
i think he made a public appearance after months of going missing but nothing of what happened or why was talked about

sounds like they held dude in a dungeon and fed him sloppy joes and treated him like sh*t for days, then let him out and told him if you dont follow our orders we gon k*ll you next time.
+12   

 1 month ago '04        #18
CentsCuZ  topics gone triple plat - Number 1 spot x1
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Huang, who's now worth about $35 billion, quit his role as chief executive officer last year and stepped down as chairman in March
The line I was waiting for happened to be the last one of the article. Dude is still worth $35 billion lol
+5   

 1 month ago '04        #19
CentsCuZ  topics gone triple plat - Number 1 spot x1
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[quote=aaf192020;57867314]
 messy marv stan said

"A representative for PDD didn't respond to requests for comment."



That nxgga ain't trying to get "re-educated"!!!! One peep and he'd be disappeared in 5 minutes.
Because if these dudes go to the press then the Chinese government really starts destroying them. That's how this all started. The guy that co-founded Ali Baba, Jack Ma, started talking reckless, and China hit him with the, "Wait a minute, who are you?"

Then the Chinese leaders started getting concerned that all these tech companies were getting more powerful than the government, especially after witnessing how the tech and media mobs of the U.S. turned the entire U.S. election by modifying search results, hiding stories, and emphasizing other stories that were against the candidate that they disliked.
+11   

 1 month ago '16        #20
Ghostface Killa  topics gone triple plat - Number 1 spot x1
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 nwking said
Did his life change at all No, he's alright it's not like. He went fr 50billion to 1 million dollars.
Huang, who's now worth about $35 billion, quit his role as chief executive officer last year and stepped down as chairman in March

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 1 month ago '18        #21
set117  topics gone triple plat - Number 1 spot x2
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I'd love to have this problem
+3   

Top 10 most propped recently  1 month ago '19        #22
aaf192020  topics gone triple plat - Number 1 spot x3
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[quote=CentsCuZ;57867426]
 aaf192020 said

Because if these dudes go to the press then the Chinese government really starts destroying them. That's how this all started. The guy that co-founded Ali Baba, Jack Ma, started talking reckless, and China hit him with the, "Wait a minute, who are you?"

Then the Chinese leaders started getting concerned that all these tech companies were getting more powerful than the government, especially after witnessing how the tech and media mobs of the U.S. turned the entire U.S. election by modifying search results, hiding stories, and emphasizing other stories that were against the candidate that they disliked.
They making anyone with influence disappear: Fan Bingbing from X-Men was gone for 4 months;


Their most famous actress has been scrubbed from the face of the earth. Social media completely erased:
.

China is basically North Korea with communism instead of a dictatorship


Last edited by aaf192020; 09-18-2021 at 02:06 AM..
+6   

 1 month ago '04        #23
CentsCuZ  topics gone triple plat - Number 1 spot x1
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 aaf192020 said

They making anyone with influence disappear: Fan Bingbing from X-Men was gone for 4 months;


Their most famous actress has been scrubbed from the face of the earth. Social media completely erased:
.

China is basically North Korea with communism instead of a dictatorship
Yup, exactly. I saw the famous artist Ai Weiwei had his bank account terminated too smh
+3   

 1 month ago '10        #24
Chiyosuke 
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 nwking said
Did his life change at all No, he's alright it's not like. He went fr 50billion to 1 million dollars.
So you'd be completely fine with the US government (or wherever you're from) outright jacking your fortune, right? Cool...

 1 month ago '13        #25
boobalo1  topics gone triple plat - Number 1 spot x1
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Amazing.. The thought of any person having too much influence or control. Off with your head ..
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