Chinese tycoon Zhong Shanshan overtakes Mukesh Ambani to become Asia’s richest person
- Zhong’s net worth has surged US$70.9 billion this year to US$77.8 billion thanks to two unrelated fields
- It’s one of the fastest accumulations of wealth in history, and until this year he was little known outside China
Zhong Shanshan is a private billionaire who’s rarely quoted in the press.
Zhong’s net worth has surged US$70.9 billion this year to US$77.8 billion, making him the 11th-richest person on the planet. 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 China.
Zhong, 66, 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”.
He owes his success to two unrelated fields. He took vaccine maker Beijing Wantai Biological Pharmacy Enterprise public in April, then months later Nongfu Spring, a maker of bottled water, became one of Hong Kong’s hottest listings. Nongfu shares have jumped 155 per cent since their debut, and Wantai’s are up more than 2,000 per cent.
