News
How China’s Richest Man Worth $94.1 Became A Billion

The current seventh richest man on earth is Zhong Shanshan, the chairman of bottled water company, Nongfu Spring, with a $94.1 billion net worth, thanks to an exponential rise in his company’s share price.
The Chinese-born billionaire is now the richest man in the world’s second-largest economy. His wealth has surpassed that of Chinese tech tycoons like co-founder and chief executive officer of Tencent Holdings, Ma Huateng ($74.3 billion); Pinduoduo founder, Colin Huang ($69.3 billion); and Alibaba founder, Jack Ma ($54.9 billion).
What you must know: His current wealth is estimated to be worth 51.8 million troy ounces of gold, which could buy 1.49 billion barrels of crude oil.
The Hong Kong-listed company went public in September 2020; its share price has more than tripled in value in about five months.
Read Also: Herdsmen Crisis: It Will Become Very Serious, Nobody Will Be Spared – Southwest Gov
According to Nongfu Spring’s offering prospectus, the 66-year-old Chinese billionaire owns a massive 84.4% of the company; he and his wife’s extended family own an additional 6.2% combined, and 63 other investors, current and past employees and experts, own a collective 6%.
The leading Chinese beverage maker became publicly traded in Hong Kong at the end of Q3, 2020. The self-made billionaire also has a stake through investment vehicles, Hangzhou Youfu and Yangshengtang, according to the company’s prospectus for IPO.
In addition, Zhong Shanshan has a majority stake in publicly traded Beijing Wantai Pharmacy Enterprise, a vaccine and hepatitis test-kit maker in the world’s second-largest economy.
“I used to be a journalist. I know exactly what goes on to the front page. On the other hand, it (the sudden shift in strategy) also harmed us, as the day before the announcement, we were still making purified water,” Zhong told China Daily in 2016.
Read Also: Buhari Is Worried, Deeply Concerned Over Wanton Killings- Monguno
“I don’t like making friends with business-people. In the business world, I want it to be just business,” he said.
Nongfu Spring Co. Ltd. develops and produces bottled mineral water, sports drinks, fruit juice, and tea drinks. The China-based company also offers barreled mineral water door-to-door services.
BlazeNewz Disclaimer
The information contained in this post is for general information purposes only. Opinion articles, comments are solely the responsibility of the author and does not necessarily reflect the views of BlazeNewz while we endeavour to keep the information accurate with objectivity as we adhere to global practice of journalism. Read our full Disclaimer.
-
Politics1 year ago
Breaking: Appeal Court Sacks Ekiti APC Senator, Adeyeye Declares PDP, Olujimi Winner
-
News1 year ago
I’m Not Afraid Of Death– Obasanjo
-
Politics2 years ago
Rivers Guber ”In The End, It Will Be A Sweet Victory” Wike Tells Party Members
-
Sponsored Posts2 years ago
Come And Learn Yoruba Traditional Druming and Dancing
-
Foreign11 months ago
Breaking : Another Virus, Hantavirus Surfaces In China
-
News4 weeks ago
Breaking : Buhari Appoints Zanna Mohammed Ibrahim As Acting IG
-
News1 month ago
Prices Of Rice , Other Major food Items Crash
-
Economy4 months ago
Cement Price Drops – Check Out The Current Price
You must log in to post a comment.