China’s bottled water king dethrones Mukesh Ambani as Asia’s richest individual

Zhong Shanshan is a personal billionaire who’s not often quoted within the press.
Now, after an unbelievable profession spanning journalism, mushroom farming and well being care, he’s grow to be Asia’s richest individual, eclipsing India’s Mukesh Ambani and a gaggle of Chinese tech titans together with Jack Ma.
Zhong’s web value has surged $70.9 billion this 12 months to $77.8 billion, making him the Eleventh-richest individual on the planet, in line with the Bloomberg Billionaires Index. It’s one of many quickest accumulations of wealth in historical past, and all of the extra outstanding contemplating that till this 12 months he was little identified outdoors of China.
Zhong, 66, isn’t concerned in politics and his enterprise pursuits aren’t entwined with different wealthy households such because the property tycoons, which is why he’s identified domestically because the “Lone Wolf.”
He owes his success to 2 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, turned certainly one of Hong Kong’s hottest listings. Nongfu shares have jumped 155% since their debut, and Wantai’s are up greater than 2,000%.

The ascent of the ‘Lone Wolf’
Ambani has additionally had a rare 12 months — hanging offers to remodel his conglomerate Reliance Industries Ltd. right into a expertise and e-commerce titan — and seeing his fortune surge $18.3 billion to $76.9 billion.
While Ambani was at one level the world’s fourth-richest individual, shares of his Reliance have stalled as he comes beneath strain to ship on the digital transformation he’s promised.

Meanwhile, Nongfu inventory hit a peak this week after Citigroup Inc. analysts stated the corporate has solidified its market dominance and enjoys ample money circulation. Zhong’s different agency, Wantai, is amongst these growing a Covid-19 vaccine.
Zhong has additionally climbed the ranks as China’s tech firms have tumbled amongst elevated authorities scrutiny. Jack Ma, Asia’s richest individual earlier than Ambani took over this 12 months, is now value $51.2 billion, down from a excessive of $61.7 billion in October.