WargaBiz

Malaysia's Fastest Growing Business
and Lifestyle Digital Media Platform
For Usahawan

  • Cover
  • Specialist
  • People
  • Money
  • Insights
  • Government
  • Events
  • Usahawan
No Result
View All Result
WargaBiz

Malaysia's Fastest Growing Business
and Lifestyle Digital Media Platform
For Usahawan

  • Cover
  • Specialist
  • People
  • Money
  • Insights
  • Government
  • Events
  • Usahawan
No Result
View All Result
WargaBiz

Malaysia's Fastest Growing Business
and Lifestyle Digital Media Platform
For Usahawan

No Result
View All Result
This Bottled Water Tycoon & Vaccine Investor Is Wealthier Than Jack Ma
  TRENDING
The ProFix App Has Endless Capabilities Beyond Property Management 29/09/2023
Is It True That Merchants Will Be Charged for DuitNow Payments? 27/09/2023
This Influencer Shared How He Got ‘Busted’ by LHDN for Not Paying Taxes 26/09/2023
KUSKOP Launches 5 Initiatives to Support Micro-Entrepreneurs 21/09/2023
KPKT Minister Launches Malaysia’s Largest Renewable Energy Power Plant 21/09/2023
Next
Prev

This Bottled Water Tycoon & Vaccine Investor Is Wealthier Than Jack Ma

Who is Zhong Shanshan? Let's take a look at his background

in Insights
18/07/2023
Reading Time: 3 mins read
A A
41
SHARES
Share on FacebookShare on Twitter

Zhong Shanshan is now China’s richest person, surpassing Jack Ma, the founder of Alibaba. According to Bloomberg’s Billionaires Index, his net worth is currently estimated at US$68.5 billion (RM310.8 billion). In 2021, he briefly held the title of Asia’s richest person, overtaking India’s Mukesh Ambani. Let’s take a look at Zhong Shanshan’s background:

Zhong Shanshan used to work in construction to help his poor family

zhong shanshan

Zhong was born in Hangzhou in 1954 and had to drop out of junior school during the Cultural Revolution of 1966-76 due to his family’s poverty. He ended up doing construction work to help his family make ends meet.

In 1977, Zhong attempted the college entrance examination but didn’t succeed. However, he persevered and enrolled at Zhejiang Radio & TV University, where he simultaneously pursued his degree and worked.

Starting from 1984, he worked as a reporter for Zhejiang Daily, conducting interviews with over 500 self-made businessmen. Through writing about entrepreneurship, he developed a dream of establishing his own business.

He served as a sales agent for Wahaha Drinks before founding Nongfu Spring

In 1988, Zhong relocated to Hainan Island, off the southern coast of China, to embark on his entrepreneurial journey. He initially began with mushroom cultivation, then shifted to prawn farming, and eventually ventured into turtle breeding. In the meantime, he also served as a sales agent for Wahaha Drinks company before founding Nongfu Spring in 1996.

Within three years of founding Nongfu Spring, Zhong made the decision to stop extracting natural minerals from the water. This was a noteworthy development in China, where distilled water had been the conventional choice for bottled water. Instead, he focused on highlighting the benefits of drinking natural water.

Zhong Shanshan tried to highlight the benefits of drinking natural water instead of distilled water

zhong shanshan

It took several years, but Zhong eventually succeeded in promoting the concept that “weak alkaline water” could improve health. In 2008, he positioned Nongfu Spring as a brand that connects consumers with nature through their water.

Nongfu Spring steadily gained market share in the bottled water industry, achieving 28.3% in 2018 and becoming the most popular brand. The company reported a revenue of US$3.5 billion (RM15.8 billion) in 2019 and made its market debut on the Hong Kong Stock Exchange in late 2020.

Besides, he also owns Beijing Wantai Biological Pharmacy Enterprise

The Chinese entrepreneur’s wealth has experienced a significant surge in recent months following his acquisition of a majority stake in Beijing Wantai Biological Pharmacy Enterprise. The company, which is currently developing a Covid-19 vaccine, was listed on the Shanghai stock exchange in April.

Tags: Cover Stories
Share16Tweet10
Previous Post

EPF Introduces Account 3 for Informal Sector Workers with Flexible Withdrawals

Next Post

Yippi Biz & RedPay Join Forces to Unleash Cutting-Edge Payment Solutions

Discussion about this post

Also Read

The ProFix App Has Endless Capabilities Beyond Property Management

The ProFix App Has Endless Capabilities Beyond Property Management

7 hours ago
Is It True That Merchants Will Be Charged for DuitNow Payments?

Is It True That Merchants Will Be Charged for DuitNow Payments?

2 days ago
This Influencer Shared How He Got ‘Busted’ by LHDN for Not Paying Taxes

This Influencer Shared How He Got ‘Busted’ by LHDN for Not Paying Taxes

3 days ago
Deputy Finance Minister: “Not the Right Time for GST Reimplementation”

Deputy Finance Minister: “Not the Right Time for GST Reimplementation”

1 week ago
Can You Increase Savings by Spending More? Yes, Here’s How

Can You Increase Savings by Spending More? Yes, Here’s How

2 weeks ago
Wee Ka Siong Proposes GST & Tax Relief Review for Budget 2024

Wee Ka Siong Proposes GST & Tax Relief Review for Budget 2024

3 weeks ago

About WargaBiz

WargaBiz is Malaysia’s first exclusive one-stop digital business platform to provide comprehensive coverage on start-ups and SMEs helmed by the Usahawan.

Read our full story.

  • About WargaBiz
  • Terms of Use
  • Privacy Policy
  • Job Opportunities
  • Contact Us

WargabizWargaLife

No Result
View All Result
  • Cover
  • Specialist
  • People
  • Money
  • Insights
  • Government
  • Events
  • Usahawan

© 2017-2022
WargaBiz Sdn Bhd - All Rights Reserved.
Want your site to look as cool as this?
Contact Mr Hafiz

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist