Zhong Shanshan becomes the richest person in China crossing Jack Ma

Zhong Shanshan becomes the richest person in China, crossed Jack Ma

Zhong Shanshan becomes the richest person in China by selling bottled water and vaccine. Image Courtesy – CNN

Zhong Shanshan of China crossed Alibaba founder Jack Ma with $2 billion according to the Bloomberg Billionaires Index. His company, Nongfu Spring Corporation Limited, founded in 1996, has hit $58.7 billion after a huge listing by the bottled water company in the market of Hong Kong.

Everyone calls him ‘Lone Wolf’. That is meant a wolf staying alone. Zhong Shanshan was once a construction worker. The Chinese media referred to him as a ‘lone wolf’ for his rare public appearances and his unwillingness to give interview in the media. He is now 66-year-old. He worked as a media person in ‘Zhejian’ in the past.

He is also the investor in vaccines. He is the Chairman of Beijing Wantai Biological Pharmacy Enterprise Co Ltd. The company is currently developing a COVID-19 nasal spray vaccine in collaboration with a reputed university. His company has been listed on the mainland in April this year.

He became the richest man in China just by selling bottled water and vaccines. The net worth of his asset is $58.7 billion. That is about Rs 45,000 crore in Indian currency. Jack Ma, who was previously the richest man in China, has a net worth of $200 billion, or Rs 15,000 crore in Indian currency. This information has been disclosed in the Bloomberg Billionaire Index.

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Zhong Shanshan is now the second richest person in Asia. Only Mukesh Ambani, the Indian industrialist, is ahead of him. Zhong Shanshan is ranked 17th in the list of richest people in the world.

Zhong’s bottled water company is popular as Nongfu Spring Corporation in China. The brand is very popular among investors in Hong Kong. Earlier this month, Zhong was named one of the three richest people in China. The Chinese vaccine maker, Beijing Wantai Biological Pharmacy Enterprise Co Ltd, was listed on the stock exchange last April. As a result of that, Zhong’s total assets have become $2 trillion in August 2020.

The owners of various technology companies are on the list of the richest people in China usually. Alibaba owner Jack Ma has been China’s richest person for the past six years. Zhong Shanshan has overtaken him for now. But, the economic experts say that Jack Ma will probably return to his previous position very soon.

Shares of the technology companies around the world fell last week. The lowest fall in shares of the tech-companies happened in America. Elon Musk, the owner of Tesla Inc, now has $93.2 billion in assets. His assets have been reduced to $1 trillion. Value of the property of Jeff Bezos dropped to $1.10 billion, whereas Zhong Shanshan’s net worth increased to $51.9 billion in 2020.

Shalini Gupta

About Shalini Gupta

Shalini Gupta is a teacher at New Delhi with multifarious talents. She has passion for reading, writing, drawing, sketching etc. simultaneously with her teaching job. presently she is writing for Bigumbrella.

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