Who is the Richest Asian? This water bottle maker just beat India's Mukesh Ambani!
The list of rich men has changed. The richest Asian is no longer Reliance Industries chief Mukesh Ambani. So, who has replaced him? Do you know about this billionaire who is now the richest Asian.
Well, the richest man in Asia now is Zhong Shanshan, a Chinese citizen. Shanshan, who has donned several hats including journalist, a mushroom farmer and one from the healthcare sector, has also left behind many Chinese tech titans and that included the man in the news recently - Jack Ma.
See Zee Business Live TV Streaming Below:
Shanshan has become the richest man in Asia, eclipsing Mukesh Ambani, with his net worth surging from USD 70.9 billion this year to USD 77.8 billion, making him the 11th-richest person in the world according to the Bloomberg Billionaires Index.
According to the reports this growth is remarkable and even historic! It ranks as one of the fastest accumulations of wealth in history. This also assumes significance as Shanshan was little known outside of China.
Two major factors behind the surge in his wealth are the mega listings of his vaccine manufacturing company Beijing Wantai Biological Pharmacy Enterprise Co in April followed by that of his bottled water company Nongfu on the stock markets, IANS report said.
Nongfu Spring, the maker of bottled water, turned out to be one of Hong Kong`s best listings and its shares have jumped 155 per cent since their debut, and the shares of the vaccine company have increased over 2,000 per cent, the report further said.
About Zhong Shanshan's Life
Zhong has seen ups and downs in his life and things have not always been this good, the IANS report said. The 66-year-old has tried his fortune in several spheres and has even worked as a journalist, a construction worker, a beverage sales agent before getting on with his own business.
However, according to industry and market experts, the stock market blockbuster of Nongfu`s listing strengthened his position. His vaccine making firm is also involved in developing Covid-19 vaccines.
Globally, he is the 11th richest individual, just a rank above Ambani, who is the 12th richest in the world now with a net worth of USD 76.9 billion. Ambani`s net worth has grown by USD 18.3 billion.
Zhong, 66, isn't involved in politics and his business interests aren't entwined with other rich families such as the property tycoons, which is why he's known locally as the "Lone Wolf."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.