Zhong Shanshan, a low-profile business tycoon, is a Chinese billionaire rarely covered in the media industry. His net worth has increased dramatically from $70.9 Billion to $77.8 Billion in 2020. The spike of around $7 Billion has placed him at the top of the richest person’s list in Asia. He has grabbed this position from India’s Richest person Mukesh Ambani.
Zhong who believes in the “action speaks louder than words” concept is not a well-known personality out of China. As per the Bloomberg Billionaire Index, the surge in his wealth is one of the fastest ever observed worldwide. Zhong is a non-political man. His business interest does not clash with the business fraternity that is why he is also known as ‘lone wolf’ locally.
Listing two of his main business firms in the China stock market is the reason behind his wealth growth. In April 2020, he took a decision to make his vaccine maker company named Beijing Wantai Biological Pharmacy Enterprise Co. public. After observing the success of its shares, 3 months later, he brought his bottled water maker Nongfu Spring Co. Into the public domain.
Nongfu’s share has seen a growth of 155% from its initial price. The exponential growth of approximately 2000% in the share of Wantai is unbelievable.
On the other hand, Mukesh Ambani also had tremendous growth in the year 2020. From his wealth of $18.3 Billion in 2019, his fortune has increased 4 times to make it $76.9 Billion in the current year.
But recently, Reliance share has shown no growth. Ambani has given a lot of promises to the business firms like Google, Facebook about the digital transformation in India. Now the company is under pressure to deliver on digital transformation promises given to the world. Recent Farmers agitation in India and the negative campaigning against Reliance Industries has also hurt the operations of the company up to some extent.
Since Wantai is developing the covid vaccine in China so business gurus expect more future growth in the wealth of 66 years old Zhong. Tech companies in China are facing the heat of new unfavorable government policies but more strict policies for tech companies in China have also helped the vaccine maker in growing his wealth. For his powerful presence in the bottled water business, Chinese people have given him the title of Bottled Water King.
Earlier, Mukesh Ambani took over Asia’s Richest Person title from Alibaba owner Jack Ma.