Zhong Shanshan the billionaire founder and chairperson of the Nongfu Spring beverage company is the richest man in China who was once wealthier than Indian business tycoon Mukesh Ambani. Shanshan who is also the majority stakeholder in the Beijing Wantai Biological Pharmacy Enterprise a pharma giant that manufactures vaccines and hepatitis test kits first came to limelight in 2021 when he overtook Ambani to become the richest man in Asia. Who is Zhong Shanshan? Born in 1954 in the eastern Chinese city of Hangzhou Zhong Shanshan dropped out of school during the Cultural Revolution and started working in construction. In the 1970s Zhong tried to secure admission into a state college but failed twice in entrance test and had to complete his studies at an open university. Later he worked as a journalist working as a reporter at the Zhejiang Daily for five years before quitting the job in 1988 and starting his entrepreneurial journey after moving to Hainan an island off the coast of southern China where he tried his hand at mushroom farming and also sold prawns and turtles. Self-made billionaire However after his initial ventures failed to take off Zhong started to work for Wahaha beverage company as a sales agent and sold healthcare supplements. But his big break came in 1993 when he established the healthcare brand Yangshengtang and in September 1996 founded the beverage company Nongfu Spring. In September 2020 Nongfu Spring became a publicly-traded company and began trading on the Hong Kong Stock Exchange resulting in a massive surge in Zhong Shanshans wealth. In 2001 Zhong purchased a majority stake in the Beijing Wantai Biological Pharmaceutical Enterprise Co and the company was listed on the Shanghai Exchange in April 2020. In January 2021 Zhong left the board of Wantai citing personal reasons. Boom during Covid-19 phase Meanwhile the Covid-19 pandemic which crippled most businesses across the globe proved to be a boon for Zhong Shanshan as the shares of Nongfu Spring and Wantai witnessed a major jump resulting a significant boost in his wealth. Zhong also reportedly benefited from the Chinese governments clampdown on tech companies Covid-19 period according to reports. As per reports Zhong has a 84.5% stake in Nongfu Spring and a 73% stake in Beijing Wantai Pharmacy Enterprise which contributes majorly to his overall wealth. In 2021 Zhong Shanshan made headlines when he briefly overtook Reliance Industries Chairman Mukesh Ambani as the richest man in Asia. Zhong Shanshan net worth Zhong Shanshan has a net worth of $58.8 billion as of March 16 2025 making him the richest man in China and the 26thth wealthiest globally according to Forbes Real Time Billionaires List. A major sources of his enormous wealth is derived from his business stakes and interests in the Chinese beverage and pharmaceutical industries.