{"id":1857,"date":"2020-09-25T01:00:28","date_gmt":"2020-09-25T01:00:28","guid":{"rendered":"https:\/\/businessner.com\/?p=1857"},"modified":"2020-09-25T03:14:40","modified_gmt":"2020-09-25T03:14:40","slug":"bottled-water-vaccine-tycoon-zhong-shanshan-is-chinas-richest","status":"publish","type":"post","link":"https:\/\/businessner.com\/bottled-water-vaccine-tycoon-zhong-shanshan-is-chinas-richest\/","title":{"rendered":"Bottled-Water, Vaccine Tycoon Zhong Shanshan is China\u2019s Richest Man"},"content":{"rendered":"

The fortune of Nongfu Spring founder and vaccine tycoon Zhong Shanshan grew to $58.7 billion making him the current wealthiest person in China.<\/p>\n

At a time when tech giants have been suffering losses, Zhong\u2019s net income has grown $2 billion more than Alibaba\u2019s founder Jack Ma, based on the latest listing by the Bloomberg Billionaires Index<\/a>. His fortune also grew by as much as $3.8 billion this year.<\/p>\n

Often called \u201cThe Lone Wolf\u201d due to his more reclusive and often less felt presence among China\u2019s richest business groups and circles, Zhong is now Asia\u2019s second wealthiest man after Reliance Industries founder Mukesh Ambani from India<\/a>. He is also currently ranked 17th<\/sup> richest in Bloomberg’s list of 500 billionaires.<\/p>\n

In another top billionaires’ listing this time by Forbes<\/a>, the 66-year-old Zhong Shanshan is also currently ranked 17th in the world Billionaires List above Ma Huateng at 18th place while Jack Ma is at 22nd place.<\/p>\n

Chinese bottled water giant Nongfu Spring\u2019s shares also soared as much as 85 percent during its debut earlier this month after the company\u2019s $1.1 billion Hong Kong IPO also attracted a record level demand further boosting the low-profile billionaire\u2019s fortune. Nongfu\u2019s stock price started at $2.77 and surged to $5.14 during its IPO with around $387 million changing hands on the company\u2019s first trading day at the market.<\/p>\n

\"\"
Nongfu Spring products have been very popular in mainland China. Nongfu Spring Photo<\/figcaption><\/figure>\n

As the man behind China\u2019s most popular bottled water, the bulk of Zhong Shanshan\u2019s fortune comes from his bottled water empire and healthcare business as compared to the numerous tech billionaires from mainland China. With the ongoing tech war between China and the United States, his fortune soared over tech billionaires like Tencent\u2019s Ma Huateng and ByteDance\u2019s Zhang Yiming.<\/p>\n

 <\/p>\n

Zhong Shanshan-owned companies IPOs boosts his net worth<\/h2>\n

Zhong’s fortune also grew by $50 billion in 2020 after his popular bottled-water business Nongfu Spring went on an IPO this September. His other investments in the vaccine industry particularly in the Beijing Wantai Biological Pharmacy also went public last April further increasing his net worth by as much as $20 billion.<\/p>\n

China\u2019s wealthiest list has become a source of fascination to many financial experts as several Chinese businessmen coming from the tech, real estate, and healthcare have been appearing every year either doubling or tripling their net worth due to a slew of IPOs of various companies in the country.<\/p>\n

The Nongfu Spring founder\u2019s rein on the top of China\u2019s wealthiest list, however, might be short-lived as Alibaba\u2019s Jack Ma is expected to reclaim the top spot as his financial services arm Ant Group will be conducting dual IPOs<\/a> in Shanghai\u2019s Star Market and the Hong Kong Stock Exchange in October.<\/p>\n

Ma is expected to gain as much as $30 billion from the $250 billion valuations that Ant Group is expected to gain once public offering rolls out.<\/p>\n

\n

Read More: Volkswagen Showcases Latest Electric SUV Called the ID.4<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The fortune of Nongfu Spring founder and vaccine tycoon Zhong Shanshan grew to $58.7 billion making him the current wealthiest person in China. At a time when tech giants have been suffering losses, Zhong\u2019s net income has grown $2 billion more than Alibaba\u2019s founder Jack Ma, based on the latest listing by the Bloomberg Billionaires […]<\/p>\n","protected":false},"author":4,"featured_media":1858,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Nongfu Spring Founder Zhong Shanshan: China's New Wealthiest Person with $58.7B Fortune","_seopress_titles_desc":"Nongfu Spring founder and vaccine tycoon Zhong Shanshan's fortune grew to $58.7 billion made him the latest wealthiest person in China.","_seopress_robots_index":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[32],"tags":[639,638],"_links":{"self":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/1857"}],"collection":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/comments?post=1857"}],"version-history":[{"count":5,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/1857\/revisions"}],"predecessor-version":[{"id":1874,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/1857\/revisions\/1874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media\/1858"}],"wp:attachment":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media?parent=1857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/categories?post=1857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/tags?post=1857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}