The position of Jack Ma as the richest person in China was replaced. Zhong Shanshan takes the crown as the richest man in China.
The businessman who is also known as the Gallon King is named Zhong Shanshan. Based on Bloomberg Billionaires Index data, Shanshan’s wealth reached US $ 58.7 billion on Wednesday (23/9/2020). This amount is US$ 2 billion more than the value of Jack Ma’s wealth.
The second richest person in Asia
Now, Zhong is the second richest person in Asia, behind Mukesh Ambani. He is also the 17th richest person overall, ahead of Charles Koch and Phil Knight.
Shanshan’s nickname is the “Lone Wolf” because he avoids the club’s politics and business groups. This year, Zhong’s fortune has soared by nearly US $ 52 billion, surpassing anyone in the world except Amazon.com Inc’s Jeff Bezos and Tesla Inc.’s Elon Musk
On the other hand, bottled water company Nongfu Spring Co’s initial public offering (IPO) – which turned out to be the most popular in Hong Kong among retail investors. Thus, it pushed Zhong’s ranking to the top three richest Chinese positions earlier this month.
This comes after shares of Beijing vaccine maker, Wantai Biological Pharmacy Enterprise Co, surged in April, pushing his net worth to US $ 20 billion in early August.
Zhong as non-tech companies person becomes the wealthy man
Zhong now leads the wealth ranking in China, which is usually dominated by people who make their fortunes from tech companies.
Although Zhong has already surpassed Ma’s position as China’s richest man, the tech tycoon may regain his position in the near future.
A Bloomberg source whispered that Ant Group’s IPO in the US next month is predicted to increase the value of its wealth. It share ownership reaching US $ 28 billion if the company succeeds in achieving its IPO valuation target of US $ 250 billion.