How a 'Lone Wolf' tycoon created 68 millionaires with his water empire

How a 'Lone Wolf' tycoon created 68 millionaires with his water empire

How a 'Lone Wolf' tycoon created 68 millionaires with his water empire on Business Standard. Based on the HK$21.50 ($2.77) pricing, Zhong's 84% post-IPO stake in Nongfu is valued at $26 billion, putting his net worth at $38 billion

Companies News He’s known as the “Lone Wolf.” Zhong Shanshan has worked in construction, journalism, drug making and bottled water.

Those last two endeavors have made him one of the world’s richest people.

But he’s rarely quoted in the press, isn’t involved in politics and his business interests aren’t entwined with other rich families, such as the property tycoons. Hence the nickname.

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That hasn’t hindered the popularity of Nongfu Spring Co., whose redcapped bottles are sold across China everywhere from mom-and-pop snack stalls to high-end hotels. The company is proving just as popular to investors.

Based on the HK$21.50 ($2.77) pricing, Zhong’s 84 per cent post-IPO stake in Nongfu is valued at $26 billion, putting his net worth at $38 billion. That would make him China’s third-richest man, behind Alibaba Group Holding Ltd.’s Jack Ma and Tencent Holdings Ltd...Read more.

News Source : BS / Business Standard