(Updates earlier post with Nongfu Spring’s closing price)
Chinese businessman Zhong Shanshan had already done well for himself on the 2020 Forbes Billionaires List published in April. He ranked at No. 1,063 with a fortune of $2 billion, mainly from his holding in Nongfu Spring, which controls about a quarter of China’s bottled water market.
What a year it’s been. Zhong, 65, added to that in a big way through a Shenzhen IPO in June by Beijing Wantai Biological Pharmacy Enterprise, in which he is the largest shareholder. Zhong’s stake there is now worth $10 billion.
Then today, Nongfu Spring soared upon listing in Hong Kong. At an early-morning trading price of HK$39.20, Zhong’s total fortune was worth nearly $59 billion, exceeding