After replacing Mukesh Ambani to be Asia's wealthiest person, Zhong Shanshan, has again taken the world by surprise after surpassing Warren Buffett’s fortune, as reported by Bloomberg Billionaires Index on Wednesday.
The chairman of Nongfu Spring Co, a bottled-water company, Shanshan is now the sixth wealthiest person on the planet with a net worth of $13.5 billion. His fortune surged $91.7 billion since the start of the year and Nongfu's shares jumped 18% in the first two trading days of 2021, taking the advance since their listing to 200%.
Nicknamed 'Lone Wolf', Zhong, 66, is the second ever person from mainland China to feature in the world's top 10 wealthy list, after property tycoon Wang Jianlin who hit no.8 in 2015.
Apart from the beverage business, Zhong also took vaccine maker Wantai public and its stock has soared more than 2500%, adding much more to his wealth. He is also close to entering the $100 billion net worth realm now, leaving Buffett with a fortune of $86.2 billion much behind.
Demonstrating a speedy recovery from Covid-19 shock, investors have turned positive towards shares in China and analysts are especially bullish towards Nongfu.
Zhong has even helped four of his relatives, including his younger sister and three of his wife's siblings, turn into billionaires, holding a 1.4% stake in Nongfu, while several of his employees and relatives racked millions.
