Ambani is no longer Asia’s richest man
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Asia’s richest
Until now, the Asian continent’s richest man was Reliance head honcho Mukesh Ambani, with a net worth of $76 billion. He’s just been overtaken by China’s Zhong Shanshan.
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Zhong Shanshan
With his wealth rising to $77 billion, Shanshan has moved to 11th on the Bloomberg Billionaires Index, having amassed over six billion this year alone.
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Vaccine math
Shanshan saw a rapid rise in his fortunes after he took vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. public in April.
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4/5
Water
Later, in September, Shanshan took the bottled water company Nongfu Spring Co. public. Since then the company’s shares have jumped 155% while his first shot, Wantai, is up more than 2000%.
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Ma tumbles
The Chinese tycoon’s rise has coincided with China’s richest man - Jack Ma - facing increased scrutiny from government officials and seeing a consequent dip in his fortunes, losing almost 10 billion from his net worth.