Most of the richest individuals across the globe normally come in the form of fashion moguls, investment tycoons, or tech innovators. Nevertheless, he does not fit any of those occupations. He managed to accumulate his fortunes by selling bottled water through his company Nongfu Spring. His water business has extremely become profitable giving him a net worth of seventy-eight billion dollars.
Early Life and Education
Zhong Shanshan was born on the 1st of December 1954 in Zhejiang, China. It is said that Zhong dropped out of school when China was experiencing a cultural revolution in the 1960s. It is during those times when his parents were executed along with thousands of other civilians. Zhong managed to survive those chaotic periods in the history of China and continued his studies in the 1970s. He graduated from the Open University of China but unfortunately failed college entrance examinations before he joined Beijing-based University.
Career
Even though Zhong is one of the wealthiest businessmen in China and generally in Asia, his success did not come overnight. He worked in low-paying jobs such as beverage salesman and construction worker. In the 1980s, he upgraded and started working as a news reporter where he stayed for five years. Zhong mentioned that his job as a news reporter allowed him to see an immense opportunity in the water business. He took some time to learn about the business and later on he established a water distribution company in the southern parts of China.
After his first business became a success, Zhong later founded a Nongfu Spring in 1996. The company further expanded its operations and began selling bottled juices and tea. After increasing its portfolio, it was not long before Zhong’s Spring became the biggest producer of bottled water in China. It is also the country’s leading maker of juice and producer of bottled tea.
In 2016, Zhong merged his company with other pharmaceutical entities in Beijing in an effort to reach the global market. Some of these pharmaceutical companies were involved in the development of the Covid-19 vaccine and Zhong was fortunate enough to be the biggest shareholder of one of the companies. In 2020, Nongfu Spring secured a place on the Hong Kong Stock Exchange and created one of the most fruitful Initial Public Offerings (IPOs) of that year. Zhong’s company was able to raise one billion dollars, and currently, its share price is around forty dollars.
Zhong has reached a point where he tops the list of Asia’s richest men. With a multi-millionaire list of people in real estate, manufacturing, and pharmaceutical, Zhong has proven to be different from the pack. Nonetheless, even though he has merged with pharmaceuticals most of his revenues come from his water business. Currently, with a net worth of seventy-eight billion dollars, he has surpassed India’s richest man, Mukesh Ambani.
Personal life
Zhong has three siblings who are major investors in his Spring. His sister-in-law has shares in his company which is worth more than three hundred and fifty million dollars. Without any doubt, Zhong Shansan’s success story is not only inspiring but it is also exciting. Since his water company is continuing to expand, it has clearly proved that water could bring wealth to those who can efficiently and effectively manage it.
Controversies
Nongfu Spring’s operations have occasionally been stopped by state officials who claim that the company does not adhere to the country’s water standards. The company has seen numerous random uninvited visits from health authorities and after it was found that the allegations were false, the company has filed defamation suits against the accusers.
You may also find these articles helpful
How did Zhong Shanshan become rich?
How did Alice Walton become rich?
Bernard Arnault businesses
