The owner of China’s largest bottled water maker has overtaken Alibaba’s Jack Ma to become China’s richest man, the Bloomberg Billionaire Index showed Thursday.

According to Financial Times, Nongfu Spring founder Zhong Shanshan’s net worth has hit $58.7 billion after a massive listing by the bottled water company in Hong Kong, according to Bloomberg estimates that makes him richer than Mr. Ma, whose fortune dipped to $56.7bn after shares in e-commerce group Alibaba fell 0.9 percent in New York on Wednesday.

This makes him $2 billion richer than previous number one, Alibaba founder Jack Ma, the wealth index said. Zhong’s Nongfu Spring, which claims to be number one in China’s massive bottled water market, is ubiquitous across a country where most people shun tap water for health reasons.
The company raised nearly $1.1 billion in its initial public offering.

Zhong is also the chairman of Beijing Wantai Biological Pharmacy Co. Ltd., a vaccine manufacturer listed on the mainland in April. It is developing a Covid-19 vaccine nasal spray in conjunction with a prominent university. Zhong, a 66-year-old former reporter from Zhejiang who state media say was also once a construction worker, is often referred to by Chinese media as a “lone wolf” for his rare public appearances and reluctance to be interviewed.

He founded Nongfu in 1996, just as China’s bottled water market began to take off.

Source: http://irukkanews.com/billionaire-bottled-water-seller-becomes-chinas-richest/

This is amazing

You don't mean it....And we have people selling pure water and re extremely broke....

yanabasee:
You don't mean it....And we have people selli g pure water and re extremely broke....

Those are the people that have sense.
Am sure half of his water are imported and consumed in Nigeria

goodmorning40:
Those are the people that have sense. Am sure half of his water are imported and consumed in Nigeria

Especially how we promote foreign goods to local goods....

The type of bottle water that Davido will buy for 1mill for the grams.

You too can start your own bottled water production business in Nigeria and make tones of money.

Read this article on Nairaland to find out how:

https://www.nairaland.com/6140868/bottled-water-production-business-nigeria

Regards.

Congratulations to him, providing potable water is a profitable business anywhere in the world, this is a challenge to every pure water producing company out there

Congrats to him. Entrepreneurs have great mindset. For you to be a business owner and a great entrepreneur you need to have a financial institution that makes you grow and FCMB should be your plug. With FCMB Business Account your business will grow exponentially. Click here to open an account https://on.fcmb.com/online-account-business3

Nice

Not an easy task