Mukesh Ambani dethroned as Asia’s richest
Zhong Shanshan, the “Bottled Water King”, founder of Nongfu Spring, has dethroned Mukesh Ambani to be crowned as Asia’s richest man.
The Indian business tycoon, Mukesh Ambani is the Chairman and Managing Director of Reliance Industries. Mukesh Ambani’s wealth rocketed to over $80 billion on the backs of several deals involving the likes of Google and Facebook. The spree of deals saw Reliance Industries shares hitting an all-time high of ₹2,369. This surge in share price saw Mukesh Ambani rise up the ranks and become the fourth richest man in the world, behind the likes of Jeff Bezos. Bill Gates and Mark Zuckerberg. His current net worth is valued at $76.9 billion.
Zhong Shanshan, “Lone Wolf” and “King of Bottled Water” are some of the names by which he is affectionately called in his homeland, China. He is the founder of Nongfu Spring. He has managed to grow his wealth by a whopping $70.9 billion this year to be valued at $77.8 billion. This is one of the fastest wealth accumulation in living memory. He owes this tremendous success to the success of the public listing of Beijing vaccine maker Wantai Biological Pharmacy Enterprise Co. and Nongfu Spring. Shares of Wantai Biological Pharmacy Enterprise Co. have surged by more than 2000% and Nongfu Spring’s by 155%.
Zhong Shanshan likes to keep a low profile as he stays out of politics and his business interest is different from other Chinese tycoons who focus on properties. Zhang, in his upward journey, has toppled several well-known billionaires, including Jack Ma and Mukesh Ambani. He is now the 11th richest person in the world and the 1st in Asia.
Zhong has had an interesting journey. He is a primary school dropout. He hasworked as a construction worker, newspaper reporter, drug-maker, and beverage sales agent before starting his own business. It is interesting to note that Zhong has made millionaires out of several people along the way.