Bottled water mogul Zhong Shanshan is already China’s richest man, far ahead of Alibaba’s Jack Ma

According to the ranking Hurun Rich List, the bottled water mogul, Zhong Shanshan, officially became richest man in china. Businessman behind mineral water Nongfu Spring and the independent pharmacist Wantai Biological Pharmacy Enterprise, surpassed Jack Ma the Alibaba fortunately a few months ago, and now he leaves it far behind.

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This Wednesday, the annual list of billionaires made by the Hurun Research Institute, a Shanghai-based research and investment firm. According to the institute, Shanshan has a net worth of $ 60.5 billion, 7% ($ 3.9 billion) more than last year.

The 67-year-old businessman ranked third in 2020, behind Jack Ma, founder of Alibaba, and Pony Ma, founder of Tentcent, who ranked first and second, respectively.

In just one year, the bottled water billionaire in China took a huge leap. Specialists have pointed out that the growth in Shanshan’s fortune can be attributed to three factors:

  1. The massive demand for Covid-19 test kits that benefited your pharmaceutical company.
  2. Last year, the shares of Nongfu Spring and Wantai Biological Pharmacy began to be sold on the stock markets.
  3. The Chinese government’s plan to redistribute wealth and regulate the fortunes of the country’s billionaires.

Where did Jack Ma and the other Chinese billionaires go?

The founder of alibaba, Jack Ma, who retained the title of ‘richest man in china‘Until last year, now it fell to fifth place. His fortune was reduced by 36% to ‘only’ $ 39.6 billion.

In second place was Zhang Yiming, creator of TikTok and founder of ByteDance, the parent company of the social network. The 38-year-old businessman has an estimated net worth of $ 52.8 billion, after tripling his fortune in the last year.

Zeng Yuqun, better known as ‘the king of batteries’ for your company CATL, came to third place. The socio de Elon Musk also surpassed Ma last June, as he tripled his wealth in one year to accumulate $ 49.7 billion.

Pony Ma, founder of the video game giant Tentcent and owner of WeChat, dropped two spots to fourth place. Government-imposed restrictions on limit the amount of time minors play video games, caused a 19% decrease in their fortune to $ 49 billion.

The one who suffered had the most resounding fall in the ranking was the businessman Xu Jiayin, founder of the real estate giant Evergrande GroupAlthough it topped the list in 2017 and was fifth last year, it now plummeted to position 70, with a nearly 70% reduction in your wealth a $ 11.3 billion.

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Bottled water mogul Zhong Shanshan is already China’s richest man, far ahead of Alibaba’s Jack Ma