Jan 06, 2021

Bottled Water Chairman Zhong Shanshan Becomes World’s Sixth Richest Person

The chairman of Nongfu Spring Co. is now the sixth-wealthiest person on the planet. 

Zhong Shanshan, the chairman of Nongfu Spring Co., a bottled-water company in China, is now the world’s sixth richest person.

Shanshan’s fortune surged $13.5 billion since the start of the year to $91.7 billion, according to the Bloomberg Billionaires Index.

The Hong Kong listed firm went public last September and its stock has tripled in value over the past four months, reported Forbes. Nongfu shares jumped 18% in the first two trading days of 2021 alone.

Zhong overtook Mukesh Ambani of India to become the richest person in Asia in December, reported Forbes. 

This is the second time a Chinese national has broken into the world’s Top 10 Richest People in the World. 

According to its offering prospectus, Zhong owns 84.4% of the company. Zhong and his wife’s relatives own an additional 6.2% combined and 63 other investors, which are primarily current and former employees and consultants, own a collective 6%, reported Forbes. 

Zhong also owns a controlling stake in Beijing Wantai Biological Pharmacy Enterprise as well, reported Bloomberg. The enterprise produces test kits for infectious diseases including Covid-19. When the company went public on the Shanghai Stock Exchange in April 2020, its shares rose 2500% since the IPO. 

Zhong is close to entering the group of individuals worth more than $100 billion, reported Forbes.

Nongfu Spring Co. Ltd. supplies soft drinks. The company develops, produces, and sells: bottled mineral water, fruit juice, sports drinks, and tea drinks. Nongfu Spring also offers barreled mineral water door-to-door services.

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