Before becoming the richest person in Asia, Zhong Shanshan has tried his hand in journalism, mushroom cultivation to healthcare products.
These days Zhong Shanshan is all over the news. King of China’s popular Bottled water empire, Zhong has recently overtaken Indian industrialist Mukesh Ambani to become the richest Asian. According to the Bloomberg Billionaires Index, Shanshan’s wealth has increased by $ 7 billion in the year 2020.
7 billion dollars increase in wealth this year
According to Bloomberg’s list, Zhong Shanshan’s assets have increased by $ 7 billion in the year 2020. This has taken his total assets to $ 77.8 billion. This increase has made him the richest man in Asia. Mukesh Ambani with assets of $ 76 billion is 11th in the list of world’s richest individuals. The speed with which his wealth has grown is the fastest in history. Not only this, a year ago nobody knew Zhong outside China, but 2020 seems to have turned his fortune for the better. Today he has secured a seat in the club of the rich.
From journalism to mushroom cultivation
The story of how he made his fortunes is also very interesting. Before becoming the richest person in Asia, he tried his hand in journalism, mushroom cultivation to health. In April this year, Zhong listed the vaccine-making company Beijing Wantai Biological on the Chinese stock market. Three months later, he listed his bottled water company, Nongfu Spring, on the Hong Kong stock exchange.
The wolf of the rich world
The 66-year-old Zhang lives far away from politics and neither does his business like other billionaire families. In the rich world, he is called the Lone Wolf. While he has tried hands at a range of businesses, his enormous success is credited to two companies. The first company Beijing Wantai Biological Pharmacy manufactures Vaccine and the second company Nongfu Spring makes bottled water.
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Stock market listing turned Game Changer
Zhang’s fortunes have changed since after debut on the stock market. Since listing on the stock market, the price of Nongfu Spring has risen by 155 per cent so far, while shares of Beijing Wantai Biological have seen a massive gain of 2000 per cent. Bloomberg has also placed him on the list of the fastest-growing assets in the world.
Coronavirus also the reason for his rising wealth
While Coronavirus crisis came as a big blow to global economies and wiped out the wealth of many investors, it is said to be the biggest reason behind Zhong Shanshan’s soaring wealth. His company, Wantai Biological is one of the companies making the Coronavirus vaccine. Shares of Zhong’s company Nongfu Springs reached its peak this week when analysts at Citibank said the company had strengthened its market dominance and cash flow remained high. One of the reasons for Zhong Shanshan’s rise in the rich list is the government’s increasing oversight of China’s big tech companies, due to which these companies are facing difficulties in the international market as well.
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