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The bottled water tycoon Jack Ma ranks as the richest man in China

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The bottled water tycoon Jack Ma ranks as the richest man in China
Bottled water produced by Zhong company. -Photo Wikipedia
BEIJING: The rich man who is also the founder of Alibaba.com Jack Ma is no longer the richest man in China.
His position was overtaken by bottled water business owner Zhong Shanshan who is now called the richest tycoon in the country.
His Nongfu Spring Co bottled water company is quite popular among retail investors in Hong Kong, prompting Zhong to be listed among the three richest in China earlier this month.
However, Zhong's wealth did not just come from the bottled water business.
He was listed after his vaccine company Beijing Wantai Biological Pharmacy Enterprise Co. managed to generate a fortune of more than US $ 20 billion in early August.
Zhong is now in line with other world tycoons who are often dominated by successful people in the technology industry.
According to a Bloomberg Billionaires Index report , Zhong's net income earned US $ 58.7 billion, more than US $ 2 billion over Jack Ma.
His position also puts Zhong the second richest person in Asia behind Mukesh Ambani from India.
In the list of world tycoons, Zhong is ranked 17th ahead of entrepreneurs Charles Koch and Phil Knight.
Known by the nickname "Lone Wolf", Zhong's business profit jumped to $ 51.9 billion this year.
That amount if calculated more than the assets owned by other rich people such as Jeff Bezos of Amazon.com Inc and Elon Musk of Tesla Inc.

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