Home / Business / The founder of Nongfu Spring Mineral Water becomes China’s richest man

The founder of Nongfu Spring Mineral Water becomes China’s richest man



Zhong Shanshan, Chairman of Nongfu Spring Company, attends Nongfu Spring New Product Introduction Conference in Baishan, Jilin Province, China on February 1, 2015.

Jiang Xin | VCG | Getty Images

BEIJING – Steady increases in public offerings of two Chinese stocks this year have put their controlling stakeholder at the top of China̵

7;s rich list.

As of Thursday, Nongfu Spring founder Zhong Shanshan had a net worth of $ 57.2 billion, topping Tencent’s Pony Ma and Alibaba founder Jack Ma, whose respective stakes are $ 56.3 billion, according to Forbes Dollars and $ 50.4 billion.

The paper wins also mean China’s richest man is ranked 17th in the world on Forbes’ real-time billionaires list, just below Google co-founders Larry Page and Sergey Brin.

Zhong owns 84.4% of the bottled water giant, up around 77% from its public offering in Hong Kong on September 8, when the company made around $ 1.1 billion in one of the largest public offerings on the stock exchange this year collected.

Zhong also holds a controlling interest in Wantai Biological, a pharmaceutical company that claims to be among several Chinese companies developing a vaccine against Covid-19. Wantai has risen more than 2,000% since it went public on the Shanghai Stock Exchange in April.


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