The richest person is China is a bottled water tycoon, knocking Alibaba founder Jack Ma from his mantle.

Zhong Shanshan founded Nongfu Spring in 1996 in the Zhejiang province on China's Eastern coast.

The Bloomberg Billionaires Index now puts Mr Shanshan in top spot with wealth of $58.7bn (£46.2bn).

The recent stock market listing of his bottled water firm and a controlling stake in a vaccine maker have helped boost his fortunes.

Nicknamed the "Lone Wolf", Mr Zhong is now Asia's second-richest person behind India's Mukesh Ambani, the billionaire behind Reliance Industries.

Mr Zhong now ranks 17th overall on its list of the world's top 500 richest people.

Most of China's new billionaires come from the tech industry. But rising tensions between China and the US over Huawei, TikTok and WeChat have pushed down valuations of Chinese tech stocks.

China's food and grocery sector is now vying with its tech industry in producing the country's richest business people.

In April, Mr Zhong's Beijing Wantai Biological Pharmacy Enterprise listed on the Chinese stock market. His controlling stake in the firm saw his overall wealth jump as much as $20bn by August.

The pharma company says it has partnered with two universities to develop a candidate vaccine to fight Covid-19.

Red caps
Nongfu Spring shares jumped 54% on the first day of trading earlier this month when they were listed on the Hong Kong stock exchange.

Nongfu Spring's red-capped bottles are sold nationwide from small stores to high-end hotels. The company also sells teas, flavoured vitamin drinks and juices.

The successful stock market listing propelled Mr Zhong into China's top three richest people alongside Alibaba's Mr Ma and Tencent boss Pony Ma.

But this week's downturn for tech stocks saw the Chinese tycoon move up the wealth rankings.

Mr Zhong may not stay ahead of Mr Ma, who has held the top spot for the past six years, for long.

Alibaba-backed Ant Group is due to list on Chinese and Hong Kong stock exchanges next month, which will boost the tech boss's wealth even further.

The online payments firm could net Mr Ma an estimated $28bn if the company achieves the $250bn valuation it has been targeting.



https://www.bbc.co.uk/news/business-54276902

Arrrrrrrh


See the most neglated work is the most payable job. who can imagine common pure water that we despise. Hard work pays!!!!

See the kind of husband I'm looking for

Zzor:
See the kind of husband I'm looking for

Ole ole.....you better go and work for money...

Zzor:
See the kind of husband I'm looking for

Good luck.... but somehow i think he's been smart enough to avoid your type!

[img]https://media./images/ca6e8ce0985c9fd899fb8f3d388f5c70/tenor.gif[/img]

Skmoda360:

Ole ole.....you better go and work for money...

where I come from,women don't work for their money,their husband works hard and bring the money home

NwaNimo1:


Good luck.... but somehow i think he's been smart enough to avoid your type!

[img]https://media./images/ca6e8ce0985c9fd899fb8f3d388f5c70/tenor.gif[/img]

how do you know that,hes my target for now

U mean pure water dat i jst finish drinking..d man also ranked 17th richest man on earth...chai when do i start my own production nw..

Zzor:
where I come from,women don't work for their money,their husband works hard and bring the money home

this is 21st century, nobody will tell you to work before hunger finished u

It still baffles me, how come we buy water

Zzor:
where I come from,women don't work for their money,their husband works hard and bring the money home

Jesu!!! If person marry this one the money go finish over time....I bind and cast out every spirit of zzor in my life in Jesus name.. Amen

Don't worry, you go see one simp wey go carry your matter for head. Shalom

U mean purity sewage dat i jst finish alcohol..d wowoman also ranked xvii richest wowoman on planet...cai when do i start my their output nw..

My papa na pure water seller. But he never be a millionaire sef . How did he do it?

Wow! Pure water Tycoon! That’s awesome. No business is small, it’s just a matter of starting. Well, FCMB got you covered. With FCMB Business Account your business will grow exponentially. You can access business loan facility. Start now https://on.fcmb.com/online-account-business3