Temu's Founder Loses Title as China's Richest Person After Just 18 Days

The founder of the e-commerce platform Temu, Fan Lin, has lost his title as the richest person in China after only 18 days. This change comes amid fluctuations in the market value of his company, Pinduoduo. Earlier, Fan Lin was named the richest after the rise in Pinduoduo's stock price, but after a recent decline, he has fallen behind another Chinese businessman for the top spot.

Continue reading