Mukesh Ambani is no more Asia’s richest person now

Lahore, 31st  December: India’s Mukesh Ambani has been unseated as Asia’s richest person by a Chinese Mr Zhong Shanshan.

Baaghi TV: According to a recent study, Asia now has a new richest person, who tops the list now thanks to his vaccine-making firm and bottled water company.

Reports from BBC News say that Zhong Shanshan has leapfrogged India’s Mukesh Ambani and China’s Jack Ma after seeing his wealth surge $7 bn (£5.1bn) this year.

According to the Bloomberg Billionaires Index, he is worth $77.8 bn, making him the world’s 11th richest person. Nicknamed the ‘lone wolf’ Mr Zhong’s career has spanned journalism, mushroom farming and healthcare.

Mr Zhong took vaccine-maker Beijing Wantai Biological public in April listing its shares on the Chinese stock market. Three months later he did the same thing with Nongfu Spring, his bottled water company, publicly listing it in Hong Kong.

This propelled him above Alibaba’s founder Jack Ma who had previously been China and Asia’s richest person.

Since then Nongfu Spring has become one of Hong Kong’s hottest listings and its shares have jumped 155% since their debut.

Beijing Wantai Biological’s shares are among those developing a COVID-19 vaccine and are up more than 2,000%.