Jack Ma is no longer China’s richest person! Meet the man who dethroned him

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Zhong Shanshan is now Asia's second-richest person
  • Zhong Shanshan now leads a wealth ranking in China that is typically dominated by people who made their fortunes from tech companies.
  • Zhong Shanshan, is now Asia’s second-richest person, behind India’s Mukesh Ambani, and is the 17th wealthiest person overall, ahead of Charles Koch and Phil Knight.

A bottle of water and vaccines tycoon has become China’s richest person in one day is also marked by great losses among the elite in the world of technology.

Zhong Shanshan net worth reached $ 58700000000 on Wednesday, $ 2 billion more than Jack Ma, according to the Bloomberg Billionaires Index. Zhong, now the second richest man in Asia, behind India’s Mukesh Ambani, the richest people and 17 overall, ahead of Charles Koch and Phil Knight.

Dubbed the “Lone Wolf” for her to avoid the political and business groups clubby, Zhong fortune has soared nearly $ 52 billion in 2020, more than anyone in the world except Amazon.com Inc. Jeff Bezos and Elon Musk of Tesla Inc. Both suffered severe declines in Wednesday as technology stocks stumbled and fell after his Tesla “Battery Day” event fell short of expectations. Musk fortune fell by almost $ 10 billion.

The initial public offering bottled water company Nongfu Spring Co. – which turned out to be Hong Kong’s most popular among retail investors – Zhong propelled China into the top three richest earlier this month. It happened after April listing vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. pushed his net worth to $ 20 billion in early August.

Zhong now leads the rankings of wealth in China which is usually dominated by people who made their fortunes from technology companies.

While Zhong has surpassed Ma as China’s richest tycoons technology may soon regain the top spot, which he held for most of the last six years after Alibaba went public in an IPO next month AS Ant Group is ready to increase his riches, with its shares worth $ 28 billion if the company reached $ 250 billion in judging people familiar with the matter said it is targeting.

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