Chairman Of Nongfu Spring Becomes Asia's Richest Man
On Friday, the ranks of Asia's wealthy elite shifted, as the title of the continent's richest man was given to billionaire bottled water mogul, Zhong Shanshan. The affluent founder and chairman of Nongfu Spring beverages clocked in a stunning $84.7 million in net worth, trumping that of Asia's now second richest, Mukesh Ambani, managing director and major shareholder of India's largest conglomerates.
Though the illusive businessman has a reputation for steering clear of the public eye, Shanshan made history this year as the first person from China to appear on Huran Report's Global Top Ten Rich List - ranking in at 7th richest man in the world. Shanshan had great company in the list as he came right in front of co-founder of Google, Sergey Brin.
As China's largest bottled water producer, Nongfu Spring ended September of last year with an IPO of $8.35 billion. While Shanshan has a second business venture as chairman of Beijing Wantai Biological Pharmacy Enterprise (a company responsible for the first phase of the nasal spray vaccine), the vast majority of his income is allocated from his 85% Stake in Noufu Springs.
Shanshan's journey towards success was rather rocky. As a grim result of the China's 1966 Cultural Revolution, he dropped out of elementary school at the age of 12. After nearly ten years working construction jobs, the business tycoon landed a news reporting gig in the 80's at Zhejiang Daily.
His career of dominating China's water bottle market began in 1997 when he founded Nongfu Springs. Not only does the company sell top of the line water, it also produces some China's most beloved tea products and fruit beverages - holding a quarter of the beverage market.
Shanshan lives a very secluded life, being nicknamed the "Lone Wolf" because of his scarce public appearances and reluctance to entertaining media outlets.
"I am a solitary person," Zhong says in a rare September interview with The Paper, "and I don't care what my colleagues are doing or thinking."
Though, if you had his lifestyle, you wouldn't want to leave the house either!
Shanshan resides in one of the wealthiest cites in the world, Hangzhou. According to CNN, "32 billionaires live in the capital city of Hangzhou" - more than Paris and San Francisco! Shanshan owns an apartment in the Xihu district. Bordering the vast West Lake, Xihu combines the glamorous luxury of high, class Chinese society with a tranquil, zen atmosphere. And with the Nongfu Spring headquarters only a seven minute drive away, what more could this jet setting business giant need?
Sources: Bloomberg, Insider, Hurun
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