Beijing, September 24:┬аChina has a new richest person and Ja Ma has been dethroned from top rank. Zhong ShanshanтАЩs net worth reached $58.7 billion on Wednesday, $2 billion more than Jack MaтАЩs, according to the Bloomberg Billionaires Index.┬а┬аZhong is now AsiaтАЩs second-richest person, behind IndiaтАЩs Mukesh Ambani.

Zhong nicknamed┬а тАЬLone WolfтАЭ saw his fortune jump┬а$51.9 billion in 2020, more than anyone else in the world except Amazon.com Inc.тАЩs Jeff Bezos and Tesla Inc.тАЩs Elon Musk.┬а Zhong, the owner of ChinaтАЩs largest bottled water maker┬аis the 17th wealthiest in the world, ahead of Charles Koch and Phil Knight. Jack Ma 56th Birthday Special: 5 Most Expensive Things Owned by Chinese Business Magnate.

Who is┬аZhong Shanshan?┬а

According to a Financial Times report, the Chinese businessmanтАЩs fortune trebled following NongfuтАЩs listing on Hong KongтАЩs stock exchange earlier this month. The shares of the company, in which Zhong has a stake of four-fifths, have soared by more than 80 per cent. Zhong's early career encompassed mushroom farming and the sale of erectile dysfunction pills.

Zhong also controls Wantai Biological Pharmacy Enterprise Co, a maker of hepatitis vaccines and Covid-19 test kits, and whose share price has soared by more than 14 times since it got listed in April.

 

(The above story first appeared on LatestLY on Sep 24, 2020 12:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).