China’s Bottled Water King Zhong Shanshan Dethrones Mukesh Ambani as Asia’s Richest Person
After a career in journalism, mushroom farming and health care, China’s Bottled Water King Zhong Shanshan is now the richest person of Asia. The private billionaire who is hardly quoted in the press has dethroned Mukesh Ambani of India. Zhong, 66, is known as “Lone Wolf” as he stays away from politics and his business interests are not linked with other wealthy families of the country.
Zhong’s net worth witnessed a surge from $70.9 billion this year to $77.8 billion, hence making him the 11th richest person on this Earth. According to Bloomberg Billionaires Index, it is one of the quickest wealth accumulations in the history. Zhong’s achievement was little known outside China until this year.
Zhong’s tremendous success is because of the two unrelated fields. The billionaire took vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. public in April and after that, bottled water maker Nongfu Spring Co., became one of Hong Kong’s hottest listings. Since debut, Nongfu shares have surged 155% and Wantai’s have increased more than 2000%. Wantai is among those developing a vaccine for COVID-19.
Meanwhile, at one point of time, Ambani was the fourth-richest person in the world. Currently, shares of his Reliance have stalled as he has been under constant pressure to deliver his promise regarding the digital transformation.
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