7. Zhong Shanshan
- Age: 66
- Residence: Hangzhou, China
- Founder, Chairman, Executive Director, and General Manager: Nongfu Spring (NNFSF)
- Net Worth: $84.7 billion
- Nongfu Spring Ownership Stake: 84% ($76.5 billion)
- Other Assets: Beijing Wantai Pharmacy Enterprise equity ($13.7 billion public asset) and $1.30 billion in cash
Despite making his fortune in the beverage industry, Zhong Shanshan originally got his start in the workforce as a construction worker, before becoming a reporter during the 1980s. Later, as a beverage sales agent, he went on to establish a bottled water distributing business in Hainan. Zhong founded his first business, health products company Yangshengtang, in 1993.
Three years later, Zhong founded Nongfu Spring, a bottled water manufacturer, though it would later expand to other beverage products, such as coffee, and food products, like rice and yogurt. By 2012, Nongfu Spring had become the largest bottled water company in all of China. In 2019, it became one of the top three producers of bottled tea and juice in the Chinese market.
Zhong also acquired a majority stake in China’s largest infectious diseases diagnostics company Wantai in 2001, with its Beijing plant being the biggest manufacturing base of diagnostic medical devices in the entire country. In Jan. 2021, he stepped down from Wantai’s board due to personal reasons
NEW DELHI: Chinese billionaire Zhong Shanshan is now the sixth richest person in the world with a fortune of $91.7 billion, according to Bloomberg’s Billionaires Index.
Last week, Zhong dethroned Reliance Industries chairman Mukesh Ambani to become the Asia’s wealthiest person.
He is now just few steps away from entering the list of individuals with more than $100 billion wealth.
https://toi-infographics.indiatimes.com/graphs/mn0iJ/12/
Here is all you need to know about Zhong:
* Zhong Shanashan is the chairman of Nongfu Spring, a bottled water company in China.
China’s bottled water king is now richer than Warren Buffett
* He is also the chairman of Beijing Wantai Biological Pharmacy Enterprise, the maker of vaccines and hepatitis test-kits that reported revenue of 1.2 billion yuan in 2019.
* Born in Hangzhou city of China, Zhong dropped out of elementary school during the Cultural Revolution in the country.
* From what looks like a rags to riches story, Zhong worked as a construction worker, a reporter and a beverage sales agent before starting his own business.
* The 66-year old is fondly known as the ‘Lone Wolf’ for keeping away from social circles.
* During the year, Zhong amassed more than $71 billion in wealth, the most after Tesla CEO Elon Musk and Amazon founder Jeff Bezos.
* The main reason for this surge in wealth can be attributed to the blockbuster listing of his companies. While, his vaccine manufacturing company was listed on Hong Kong stock exchange in April, Nongfu made its debut in September 2020.
* Founded in 1996, Nongfu Spring grew steadily over the years to become China’s top beverage company. The company reported a revenue of 24 billion yuan ($3.5 billion) in 2019.
* Nongfu Spring’s IPO turned out to be one of Hong Kong’s best listings. Its shares have jumped 155 per cent since debut. Shares of his vaccine company have jumped over 2,500 per cent.TOP COMMENTMost of these Chinese celebrities are front men for PLA. They should be regiorously scrutinized.Navin Chandra MishraSEE ALL COMMENTSADD COMMENT
* Zhong’s younger sister Zhong Xiaoxiao, his wife’s three siblings each hold 1.4 per cent stake in Nongfu
