Bottled-water tycoon is China's richest
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BOTTLED-WATER tycoon Zhong Shanshan has become China's wealthiest person, according to an annual ranking released on Wednesday (Oct 27), as a government campaign to rein in the super-rich took a big bite out of the fortunes of perennial front-runners like Alibaba co-founder Jack Ma.
Zhong, ranked third last year, has seen his fortune swell following the stock listings last year of his Nongfu Spring mineral water and separate pharma company Wantai Biological Pharmacy Enterprise, which has tapped into massive demand for Covid-19 test kits. He is worth US$60.5 billion, according to the Hurun Rich List, up 7 per cent.
Ma, last year's richest person, dropped to fifth as his fortune shrank 36 per cent to US$39.6 billion. Pony Ma, boss of gaming giant and WeChat owner Tencent, dropped 2 spots to fourth. Second place was taken by TikTok founder Zhang Yiming. AFP
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