Chinese businessman Zhong Shanshan had already done well for himself on the 2020 Forbes Billionaires List published in April. He ranked at No. 1,063 with a fortune of $2 billion, mainly from his holding in Nongfu Spring, which controls about a quarter of China’s bottled water market.
What a year it’s been. Yet Zhong, 65, added to that in a big way through a Shanghai IPO in June by Beijing Wantai Biological Pharmacy Enterprise, in which he is the largest shareholder. Zhong’s stake there is now worth $10 billion.
Then today, Nongfu Spring soared upon listing in Hong Kong. At an early-morning trading price of HK$39.20, Zhong’s total fortune was worth nearly $59 billion, exceeding $57 billion for Internet heavyweight Ma Huateng and $51 billion for Alibaba’s Jack Ma, making Zhong China’s richest man.
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