Jack Ma has been stripped of the title of China's richest man by Zhang Shanshan of China, the world's superpower.
Jack Ma, founder of the online trading company Alibaba, is no longer China's richest man, according to a new report from the Bloomberg Billion Air Index, the world's richest man.
Jack Ma has been replaced by Zhang Shanshan, the founder of a Chinese mineral water company with assets of more than 2 billion.
Zhang Shanshan owns Nang Fu Spring, China's most famous mineral water company. Earlier this month, Zhong was the third richest person in China.
In a recent list released by Bloomberg, Zhong has surprisingly emerged as China's richest man with 58 58.7 billion, with his company's assets reaching 20 20 billion by August this year. Jack Ma is currently worth 56 56.7 billion.
The main reason for the sudden increase in Zhang's assets is that his company, Beijing Wantai Biological Pharmacy Enterprise, has partnered with two universities to develop a vaccine for the corona virus.
According to statistics, Zhong has now become the second richest man in Asia, followed by Indian industrialist Mukesh Ambani.
Zhong is now ranked 17th on the list of the world's 500 richest people.
In 1996, Zhang Shanshan discovered a mineral called "Nang Fu Spring" in the eastern Chinese province of Xijiang. Water Company was founded.
