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Zhong Shanshan is an unknown billionaire who rarely appears in the media. But he currently tops the list of the richest people in Asia, surpassing Indian billionaire Mukesh Ambani and Chinese tech giants, led by Jack Ma.
Shanshan held many varied jobs throughout his life, from journalism to mushroom cultivation to healthcare, and his fortune soared this year, at a rate that is the fastest accumulating wealth in history, according to Al Sharq.
According to the Bloomberg Billionaires Index, Chung’s fortune increased by $ 70.9 billion during 2020 to reach $ 77.8 billion, bringing him to eleventh place on the list of the world’s richest. , after being one of the unknown faces outside the borders of China.
The Chinese call the 66-year-old Zong “the lone wolf” due to his estrangement from politics and his lack of association with famous wealthy families such as real estate moguls.
Zong’s success and wealth can be attributed to two companies operating in different activities: Beijing Wantai Biological Pharmacy Enterprise Co, which specializes in vaccine manufacturing and was made available to the public last April, and Nongfu Spring Co for bottled water. In China, whose shares rose 155% a few months after the introduction of Wantai Corporation, to become one of the most popular and popular Hong Kong stocks. Wantai shares are also up more than 2,000% since listing.
The year 2020 was also an exceptional year for famous Indian billionaire Mukesh Ambani, as he closed several deals as part of his plan to transform Reliance Industries Ltd. into a technology and e-commerce giant, as his fortune increased by $ 18, 3 billion to reach 76.9 billion. Dollars
Ambani’s wealth stopped increasing after he reached number four on the list of the richest people in the world. Reliance shares stopped rising due to the pressures it faces and investors are eager to implement its promises of digital transformation of the group.
Nongfu’s bottled water reached its highest level during the week’s trading, following statements by a Citigroup analyst, who confirmed that the company continues to improve its market share in addition to the ample cash flow it enjoys. While another Zong company, “Wantai”, is working to develop a vaccine for the Covid 19 virus.
Zong’s rise on the billionaires list coincides with the decline of Chinese tech companies due to increasing government restrictions on them and significantly affected the wealth of Jack Ma, who was at the top of the list of Asian billionaires before Ambani. Jack’s fortune has fallen to $ 51.2 billion, down from its October highest level of $ 61.7 billion.
