Zhong Shanshan dethrones Ambani as Asia’s richest person

Owner of a bottled water company and vaccine- making firm has ousted Mukesh Ambani from the position of Asia’s richest person.

Zhong Shanshan has recorded his name in the list of Asia’s richest person by making a net worth $77.8 billion this year. He replaced Ambani and other Chinese tech titans including founder of Alibaba, Jack Ma.

Owing to his success and surge in the net worth from $70.9 billion to $77.8 billion, Zhong has become the world’s 11th richest person, according to the Bloomberg Billionaires Index.Zhong took Beijing Wantai Biological, a vaccine- making firm, public in April and listed its shares on the Chinese stock market. Similarly, he did the same with Nongfu Spring, a bottled water company and publicly listed its shares in Hong Kong.

By doing this, the shares of Nongfu Spring jumped and Wantai’s shares soared and crossed 2000% mark. Zhong is known as the “lone wolf” as his career has revolved around journalism, mushroom farming and healthcare. Ambani too saw a surge in his wealth $18.3 billion to $76.9 billion by striking deals that transformed his conglomerate Reliance Industries into a technology and e- commerce titan.