HomeInternationalChina's Bottled Water King Zhong Shanshan Dethrones Mukesh Ambani As Asia's Richest...

China’s Bottled Water King Zhong Shanshan Dethrones Mukesh Ambani As Asia’s Richest Person

Zhong Shanshan’s net worth has surged $70.9 billion this year to $77.8 billion

Zhong Shanshan is a private billionaire who’s seldom quoted in the press.

Now, just after an improbable profession spanning journalism, mushroom farming and well being care, he’s grow to be Asia’s richest particular person, eclipsing India’s Mukesh Ambani and a group of Chinese tech titans such as Jack Ma.

Zhong’s net worth has surged $70.9 billion this year to $77.8 billion, producing him the 11th-richest particular person on the planet, according to the Bloomberg Billionaires Index. It’s one particular of the quickest accumulations of wealth in history, and all the more exceptional taking into consideration that till this year he was small identified outdoors of China.

Zhong, 66, is not involved in politics and his business enterprise interests are not entwined with other wealthy households such as the home tycoons, which is why he’s identified locally as the “Lone Wolf.”

He owes his accomplishment to two unrelated fields. He took vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. public in April, then months later Nongfu Spring Co., a maker of bottled water, became one particular of Hong Kong’s hottest listings. Nongfu shares have jumped 155% due to the fact their debut, and Wantai’s are up more than 2,000%.

Ambani has also had an extraordinary year — striking bargains to transform his conglomerate Reliance Industries Ltd. into a technologies and e-commerce titan — and seeing his fortune surge $18.3 billion to $76.9 billion.

While Ambani was at one particular point the world’s fourth-richest particular person, shares of his Reliance have stalled as he comes below stress to provide on the digital transformation he’s promised.

Meanwhile, Nongfu stock hit a peak this week just after Citigroup Inc. analysts mentioned the corporation has solidified its industry dominance and enjoys ample money flow. Zhong’s other firm, Wantai, is amongst these establishing a Covid-19 vaccine.

Zhong has also climbed the ranks as China’s tech corporations have tumbled amongst elevated government scrutiny. Jack Ma, Asia’s richest particular person prior to Ambani took more than this year, is now worth $51.2 billion, down from a higher of $61.7 billion in October.


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