Zhong Shanshan
Photographer: Imaginechina / AP Photo
Photographer: Imaginechina / AP Photo
Zhong Shanshan is a private billionaire who is rarely quoted in the press.
Now, after an unlikely career in journalism, mushroom growing and health care, he has become the richest person in Asia, eclipsing Mukesh Ambani of India and a group of Chinese tech titans, including Jack Ma.
Zhong’s net worth has risen by $ 70.9 billion this year to $ 77.8 billion, making him the 11th richest person on the planet. Bloomberg Billionaires Index. It is one of the fastest accumulations of wealth in history and even more remarkable given that until this year it was little known outside China.
Zhong, 66, is not involved in politics and his business interests are not related to other wealthy families, such as property tycoons, which is why he is known locally as the “Lone Wolf”.
Read more: The tycoon “Lone Wolf” creates 68 millionaires
He owes his success in two unrelated areas. He made public the vaccine manufacturer Beijing Wantai Biological Pharmacy Enterprise Co. in April, then months later Nongfu Spring Co., a producer of bottled water, has become one of Hong Kong the coolest records. Nongfu shares have risen 155% since the start, and Wantai shares have risen more than 2,000%.
The Rise of the Lone Wolf
Zhong Shanshan becomes the richest person in Asia
Source: Bloomberg Billionaires Index
Ambani also had an extraordinary year – striking agreements to turn its reliance on Reliance Industries Ltd. into a technology and e-commerce titan – and saw its wealth grow by $ 18.3 billion to $ 76.9 billion. of dollars.
While Ambani was at one time the world The fourth richest man, his actions in Reliance stalled as he was under pressure to achieve the digital transformation he promised.
Meanwhile, Nongfu shares peaked this week, after Citigroup Inc. analysts said company it has strengthened its dominance in the market and enjoys a large cash flow. Zhong’s other firm, Wantai, is one of them development of a Covid-19 vaccine.
Zhong also rose in the ranks in which Chinese technology companies collapsed following increased government control. Jack Ma, the richest person in Asia before Ambani took over this year, is now worth $ 51.2 billion, down from $ 61.7 billion in October.
– With the assistance of Jack Witzig