{"id":1058486,"date":"2022-04-17T10:45:13","date_gmt":"2022-04-17T10:45:13","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/04\/17\/china-has-a-new-richest-person-jack-ma-dethroned\/"},"modified":"2022-04-17T10:45:13","modified_gmt":"2022-04-17T10:45:13","slug":"china-has-a-new-richest-person-jack-ma-dethroned","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/04\/17\/china-has-a-new-richest-person-jack-ma-dethroned\/","title":{"rendered":"China has a new richest person, Jack Ma dethroned"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"452\" class=\"entry-thumb\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/04\/image-231-696x452.png\"   alt=\"\" title=\"image-231\"\/><figcaption class=\"wp-caption-text\">Zhong Shanshan and Jack Ma<\/figcaption><\/figure>\n<\/div>\n<p>A bottled-water and vaccine tycoon has become China\u2019s wealthiest person in a day also marked by massive losses among the world\u2019s tech elite.<\/p>\n<p>Zhong Shanshan\u2019s net worth reached $58.7 billion on Wednesday, $2 billion more than Jack Ma\u2019s, according to the\u00a0Bloomberg Billionaires Index. <\/p>\n<p>Zhong is now Asia\u2019s second-richest person, behind India\u2019s Mukesh Ambani, and is the 17th wealthiest in the world, ahead of Charles Koch and Phil Knight.<\/p>\n<p>Nicknamed \u201cLone Wolf\u201d for his eschewing of politics and clubby business groups, Zhong\u2019s fortune has jumped $51.9 billion in 2020, more than anyone else in the world except Amazon.com Inc.\u2019s Jeff Bezos and Tesla Inc.\u2019s Elon Musk.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>Both suffered heavy declines on Wednesday as tech stocks stumbled and Tesla plunged after its \u201cBattery Day\u201d event fell short of expectations. Musk\u2019s fortune dropped by almost $10 billion.<\/p>\n<p>The initial public offering of bottled-water company Nongfu Spring Co. \u2014 which turned out to be Hong Kong\u2019s most popular among retail investors \u2014\u00a0propelled\u00a0Zhong to China\u2019s top three richest earlier this month. <\/p>\n<p>That came after the\u00a0April listing\u00a0of vaccine maker Beijing Wantai Biological Pharmacy Enterprise Co. pushed his net worth to $20 billion by early August.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/04\/GettyImages-998308660.jpg\" alt=\"\"\/><figcaption>Bottled-water company Nongfu Spring Co<\/figcaption><\/figure>\n<p>Zhong now leads a wealth ranking in China that is typically dominated by people who made their fortunes from tech companies.<\/p>\n<h3 id=\"richer-than-ma\">Richer Than Ma<\/h3>\n<p>While Zhong has surpassed Ma as China\u2019s wealthiest, the tech tycoon might soon regain the top spot, which he\u2019s held for most of the past six years after Alibaba went public in the U.S. <\/p>\n<p>Ant Group\u2019s IPO next month is poised to boost his fortune, with his stake estimated at $28 billion if the company achieves the\u00a0$250 billion\u00a0valuation people familiar with the matter have said it\u2019s targeting.<\/p>\n<p>Wednesday was brutal for U.S. tech stocks, which tumbled the most since earlier this month. <\/p>\n<p>The plunge in Musk\u2019s wealth was the biggest among the people on the Bloomberg ranking of the world\u2019s 500 richest, followed by Bezos, whose net worth dropped by $7.1 billion.<\/p>\n<p>Musk is now worth $93.2 billion and Bezos $178 billion. Zhong added almost $4 billion Wednesday, more than anyone else in the index.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"9Eu-f33JecE\"><iframe loading=\"lazy\" title=\"Kwawu Mega Bash on Adom TV (16-4-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/9Eu-f33JecE?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Zhong Shanshan and Jack Ma A bottled-water and vaccine tycoon has become China\u2019s wealthiest person in a day also marked by massive losses among the world\u2019s tech elite. Zhong Shanshan\u2019s net worth reached $58.7 billion on Wednesday, $2 billion more than Jack Ma\u2019s, according to the\u00a0Bloomberg Billionaires Index. Zhong is now Asia\u2019s second-richest person, behind [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1058487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[6871,7659,7660,1050,6008],"class_list":["post-1058486","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-china","tag-dethroned","tag-jack","tag-person","tag-richest"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1058486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1058486"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1058486\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1058486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1058486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1058486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}