Zhong Shanshan (born 1954) is a Chinese entrepreneur best known as the founder and chairman of Nongfu Spring, one of China’s leading bottled water companies, and the majority shareholder of Beijing Wantai Biological Pharmacy Enterprise. His stakes in these two businesses have made him one of the wealthiest individuals in China and across Asia.
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| Born | 1954 (age 69–70) Hangzhou, China |
| Occupations |
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| Known for | Founder of Nongfu Spring Majority owner of Beijing Wantai Biological Pharmacy Enterprise |
| Children | 3 |
Early Life and Education
Born in Hangzhou, Zhejiang Province, Zhong grew up during the Cultural Revolution, which disrupted his education and forced him to leave school early. He worked in construction before moving into journalism, taking a position at Zhejiang Daily. In 1988, he left reporting to pursue business opportunities in Hainan, where he tried his hand at selling products such as mushrooms, prawns, and turtles. These ventures marked the beginning of his entrepreneurial journey.
Career
Nongfu Spring
In 1996, Zhong founded Nongfu Spring in Hangzhou. The brand gained wide attention in 1999 when Zhong decided to retain natural minerals in the company’s bottled water, presenting it as a healthier option compared to the distilled water then common in the market. This innovation fueled rapid growth, and by 2012, Nongfu Spring had become China’s leading bottled water brand. The company later diversified into fruit juices, teas, and vitamin drinks, and has maintained its position as the country’s top packaged beverage company for eight straight years.
In September 2020, Nongfu Spring went public on the Hong Kong Stock Exchange, raising massive capital and pushing Zhong’s fortune from $18.9 billion to over $50 billion almost overnight.
Beijing Wantai Biological Pharmacy
Zhong also holds a majority share in Beijing Wantai Biological Pharmacy, which focuses on diagnostics and vaccines. The company rose to prominence during the COVID-19 pandemic with the development of a nasal spray vaccine candidate. Its listing in April 2020 further boosted Zhong’s wealth and influence.
Net Worth
Zhong’s fortune surged following the public listings of Nongfu Spring and Wantai. By 2022, his net worth had reached $62.3 billion, making him the wealthiest person in China at the time. Most of his wealth comes from his 84.4% stake in Nongfu Spring and 75% ownership of Wantai, though his standing on global rich lists has shifted with market changes.
Controversies
In 2024, Zhong came under fire from Chinese nationalists. Critics accused him of showing insufficient patriotism, citing alleged remarks about a late patriotic rival and reports that his son holds U.S. citizenship. Despite this backlash, Zhong has avoided political debate and continues to keep a low profile.
Personal Life
Often described as a “lone wolf” by Chinese media, Zhong is known for avoiding the spotlight and living quietly. He resides in Hangzhou’s Xihu District, near the scenic West Lake, where Nongfu Spring is headquartered. Zhong is married to Lu Xiaoping, and they have three children.
Recognition
- 2021 – Briefly ranked the richest person in Asia before being overtaken by Mukesh Ambani.
- 2017 – Awarded the Hungarian Order of Merit.
References
- (No date) Bloomberg.com. Available at: https://www.bloomberg.com/billionaires/profiles/shanshan-zhong/ (Accessed: 09 January 2025).
- Goodreturn (no date) Zhong Shanshan: Zhong Shanshan net worth, biography, age, spouse, children & more, Goodreturn. Available at: https://www.goodreturns.in/zhong-shanshan-net-worth-and-biography-blnr14.html (Accessed: 09 January 2025).
- Lim, L. (2024) China’s richest person wants the BYTEDANCE founder to apologize for not stopping an online smear campaign, Fortune Asia. Available at: https://fortune.com/asia/2024/11/22/china-richest-person-zhong-shanshan-nongfu-spring-bytedance-pinduoduo-pdd-holdings/ (Accessed: 09 January 2025).
- Zhong Shanshan (not Jack Ma) is the richest guy in China and he sells water (2016) sharesansar.com. Available at: https://www.sharesansar.com/newsdetail/zhong-shanshan-not-jack-ma-is-the-richest-guy-in-china-and-he-sells-water-2021-01-04 (Accessed: 09 January 2025).
