icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
31 Dec, 2020 10:59

Bottled off: India’s Ambani dethroned as Chinese water tycoon becomes Asia’s richest man

Bottled off: India’s Ambani dethroned as Chinese water tycoon becomes Asia’s richest man

As the year draws to a close, Chinese bottled water billionaire and vaccine investor Zhong Shanshan has become the new richest man in Asia, overtaking the region’s long-tern leader, Indian business magnate Mukesh Ambani.

With a fortune approaching $7 billion back in January, Zhong's wealth has surged by nearly $71 billion since then, with only Amazon boss Jeff Bezos and Tesla CEO Elon Musk making more money this year among the richest people on the planet, according to Bloomberg's Billionaire Index. Thus the Chinese billionaire’s estimated wealth rose to a whopping $77.8 billion, putting him in 11th place on the list, right ahead of Reliance Industries chairman Ambani.

Also on rt.com Richest 1% cause more than double CO2 emissions of poorest half of humanity – Oxfam

While Ambani has slipped down to the second spot among Asia’s wealthiest, he is not too far behind. He added over $18 billion to his fortune during the past 12 months, meaning it is now estimated at $76.9 billion.

The 66-year-old Chinese businessman gained prominence earlier this year, when the water company he founded nearly quarter of a century ago, Nongfu Spring, started trading in Hong Kong. The firm raised more than $1.1 billion via its successful IPO, pushing Zhong’s fortune higher and allowing to join the top ranks of China's wealthiest and eventually take the first place.

Also on rt.com Elon Musk leaves Bill Gates behind to become SECOND-RICHEST person on planet

The beverage company is not the only project fueling Zhong’s success. The billionaire also controls Chinese pharmaceutical company Wantai Biological, which went public in Shanghai in April. Stock in the firm, which is developing a nasal spray coronavirus vaccine, surged by over 2,000 percent earlier this year.

Zhong worked in construction, journalism, and founded pharmaceutical company Yangshengtang before turning to bottled water. He has earned the nickname ‘Lone Wolf’, as he rarely makes public appearances or agrees to speak to reporters, and he is neither involved in politics nor linked to business groups, according to Bloomberg.

For more stories on economy & finance visit RT's business section