New China Billionaire Drops $2.8 Billion as PDD Shares Tumble
A man counts out Chinese one hundred yuan renminbi banknotes at a foreign currency exchange (Photographer: Andrey Rudakov/Bloomberg)

New China Billionaire Drops $2.8 Billion as PDD Shares Tumble

(Bloomberg) -- One of China’s freshly minted billionaires saw his net worth plunge $2.8 billion after the e-commerce company he founded, Pinduoduo Inc., tumbled in U.S. trading on mounting losses.
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