Zhong Shanshan Reclaims Top Spot as China’s Wealthiest
(MENAFN) Chinese bottled water powerhouse Nongfu Spring’s founder and CEO, Zhong Shanshan, has once again become the wealthiest individual in China this year, amassing a fortune of $74.5 billion, according to the research organization Hurun.
Zhong previously led Hurun’s ranking of wealthy Chinese from 2020 through 2023, but in 2024, he was surpassed by TikTok founder and CEO Zhang Yiming.
At 70 years old, Zhong boosted his net worth by 56% compared to last year. He first reached the pinnacle of the list in 2020 after overtaking e-commerce magnate Alibaba’s founder, Jack Ma.
On the other hand, last year’s top Chinese billionaire, Zhang Yiming, placed second this year with a fortune of $66.1 billion, marking a 34% increase.
The US Congress issued an ultimatum to TikTok: either transfer ownership to an American company or cease operations in the country over security concerns.
US President Donald Trump indicated that the firm would be handed over to a consortium of American investors, which resulted in Zhang losing his position as China’s wealthiest individual.
Trump revealed that TikTok would be acquired by a consortium led by Larry Ellison, Michael Dell, Rupert Murdoch, and his son, Lachlan Murdoch.
The American partners are anticipated to hold 80% of the platform, while the parent company, ByteDance, retains no more than 20%.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
