Chinese billionaire, Zhong Shanshan career spans from being a journalist to doing mushroom farming and health care.
China's private billionaire Zhong Shanshan has become the richest Asian, surpassing the likes of Indian billionaire business magnate Mukesh Ambani and Chinese tech titans including Jack Ma.
Zhong Shanshan career spans from being a journalist to doing mushroom farming and health care. However he is so private that he is rarely quoted in the Chinese press.
Zhong's net worth has surged 70.9 billion dollars in 2020 to 77.8 billion dollars, making him the 11th-richest person on the planet, according to the Bloomberg Billionaires Index.
It's one of the fastest accumulations of wealth in history, and all the more remarkable considering that until this year he was little known outside of China.
66 year old Zhong isn't involved in politics and his business interests aren't entwined with other rich families such as the property tycoons, which is why he's known locally as the "Lone Wolf."
Mukesh Ambani slipped from the top spot in Asia despite striking extraordinary deals with some of the leading tech giants, including Google and Facebook.
The rise in Zhong Shanshan's net worth is attributed to listing of two of companies.
Reason for success
- Zhong took vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. public in April.
- Months later Nongfu Spring Co., a maker of bottled water, became one of Hong Kong's hottest listings.
- Nongfu shares have jumped 155% since their debut, and Wantai's are up more than 2,000%.
- This has taken Zhong's net worth to $77.8 billion from $70.9 billion earlier this year.
Meanwhile, Nongfu stock hit a peak this week after Citigroup Inc. analysts said the company has solidified its market dominance and enjoys ample cash flow. Zhong's other firm, Wantai, is among those developing a Covid-19 vaccine.
Zhong has also climbed the ranks as China's tech companies have tumbled among increased government scrutiny. Jack Ma, Asia's richest person before Ambani took over this year, is now worth 51.2 billion dollars, down from a high of 61.7 billion dollars in October.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "Chinese billionaire Zhong Shanshan")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}