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.