Not Mukesh Ambani, this Chinese businessman is now Asia’s richest man

Zhong Shanshan, a Chinese billionaire, little-known outside his country, has dethroned India’s Mukesh Ambani to become Asia’s wealthiest businessman, Bloomberg reported. Zhong’s fortunes surged $70.9 billion this year to $77.8 billion, making him the richest man in Asia and the 11th richest man in the world, according to the Bloomberg Billionaires Index.

He is the owner of Nongfu Spring Co, a maker of bottled water that became one of Hong Kong’s hottest listings. Its stocks have jumped 155% since its debut on September 8.

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Zhong also runs Beijing Wantai Biological Pharmacy Enterprise Co, a vaccine maker, which is developing a vaccine for the novel coronavirus. Its shares have jumped by more than 2,000%.

Although listed among the world’s top businessmen, Zhong’s story is a little different, with a career spanning journalism, sales, construction and mushroom farming. The 66-year-old is locally known as the “Lone Wolf.”

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Ambani’s fortunes zoomed $18.3 billion, this year. With a worth of $76.9 billion, he is now the 12th richest man in the world and second in Asia, right after Zhong.