The owner of China’s largest bottled water maker has overtaken Alibaba’s Jack Ma to become the nation’s richest person, after a surge in his company’s share price boosted his fortune to almost $60bn.
The net worth on paper of Zhong Shanshan, president of Hangzhou-based Nongfu Spring, climbed to $58.7bn, according to Bloomberg estimates. That makes him richer than Mr Ma, whose fortune dipped to $56.7bn after shares in ecommerce group Alibaba fell 0.9 per cent in New York on Wednesday.
Mr Zhong, whose early career encompassed mushroom farming and the sale of erectile dysfunction pills, is now 17th in the global rich list, trailing Google co-founder Larry Page by about $10bn.
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