Pass over Mukesh Ambani, Zhong Shanshan in China is now the richest Asian

Zhong Shanshan is a private billionaire who is rarely quoted in the press.

Now, after an unlikely career in journalism, mushroom growing and health care, he has become the richest person in Asia, eclipsing Mukesh Ambani of India and a group of Chinese tech titans, including Jack Ma.

Zhong’s net worth rose $ 70.9 billion this year to $ 77.8 billion, making him the 11th richest person on the planet, according to the Bloomberg Billionaires Index . It is one of the fastest accumulations of wealth in history and even more remarkable given that until this year it was little known outside China.

Zhong, 66, is not involved in politics and his business interests are not related to other wealthy families, such as property tycoons, which is why he is known locally as the “Lone Wolf”.

He owes his success in two unrelated areas. He took the audience of vaccine manufacturer Beijing Wantai Biological Pharmacy Enterprise Co. In April, then months later, Nongfu Spring Co., a bottled water producer, became one of Hong Kong’s strongest records. Nongfu shares have risen 155% since the start, and Wantai shares have risen more than 2,000%.

Ambani also had an extraordinary year – striking agreements to turn its reliance on Reliance Industries Ltd. into a technology and e-commerce titan – and saw its wealth grow by $ 18.3 billion to $ 76.9 billion. of dollars.

While Ambani was once the fourth richest person in the world, his actions in Reliance stalled as he came under pressure to deliver the digital transformation he promised.

Meanwhile, Nongfu shares peaked this week after Citigroup Inc. analysts. stated that the company has consolidated its dominant position in the market and enjoys a large cash flow. Zhong’s other company, Wantai, is among those developing a Covid-19 vaccine.

Zhong also rose in the ranks in which Chinese technology companies collapsed following increased government control. Jack Ma, the richest person in Asia before Ambani took over this year, is now worth $ 51.2 billion, down from $ 61.7 billion in October.

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