Zhang Shanshan has become the richest man in China, replacing Jack Ma, chairman of e-commerce giant Alibaba Group. He topped the Bloomberg Billionaire Index of China's richest people by selling bottled water. His net worth is 5.6 billion. This information was given in a report of BBC online.
Zhang Shanshan founded his water sales company, Nongfu Spring, in Zhejiang Province in 1997. His fortunes have changed recently as his company's share price has risen and the share of the vaccine company he is a partner has risen.
Zhang is better known as Lone Wolf. He is currently the second richest person in Asia. He is preceded by Mukesh Ambani, head of Reliance Industries of India. Besides, Jang's position in the list of 500 richest people in the world is 18th.
In general, most of China's richest people come from the technology sector. However, Chinese companies have been hit hard by China's trade tensions with the United States and the US sword over Huawei. Market prices of companies like TickTock and WeChat have dropped significantly. Chinese food companies are emerging in that place. Zhangi is a great example.
In April, Zhang's Beijing Wantai Biological Pharmacy Enterprise was listed on the Chinese stock exchange. In August alone, the assets of its controlling portion of the firm increased by 2 trillion. On the other hand, Nongfu Spring's share price rose 54 percent on the first day after it was listed on the Hong Kong Stock Exchange earlier this month. Nongfu Spring water is available in all types of stores in the country. The company also sells tea, flavored vitamin drinks and juices.