Move Over Jack Ma, There’s A New Billionaire In Town
Jack Ma’s title of the wealthiest man in China has finally been taken by a businessman who garnered his wealth from bottled water and vaccines.
Zhong Shanshan is the man in question.
Bottled Water Tycoon Usurps Tech Tycoon As China’s Richest
The founder of Nongfu Spring’s net worth hit US$58.7 billion after a massive listing in Hong Kong by the water bottle company earlier in the month. If you aren’t aware, this makes Zhong a whole US$2 billion richer than the former number one, Alibaba founder, Jack Ma.
But what exactly is Nongfu Spring? Claiming to be the number one producer of bottled water, the brand is certainly ubiquitous across the huge Chinese nation where most of its inhabitants shun tap water for obvious health reasons.
The aforementioned company also raised nearly US$1.1 billion in its initial public offering.
Along with that, Zhong is also the chairman of Beijing Wantai Biological Pharmacy Co. Ltd. — a vaccine manufacturer that was listed in mainland China back in April. Most notably, the company is currently developing a Covid-19 vaccine nasal spray in collaboration with a prominent university.
Zhong, a 66-year-old former reporter and construction worker, founded Nongfu Spring in 1996 as China’s bottled water market began to bloom.