China: a nasal spray against corona

Until recently, the internationally known Alibaba boss Jack Ma was considered the richest Chinese. But the world was hardly puzzled about the possible disappearance of the Internet billionaire – after he had criticized the Communist Party regime – he was replaced by a previously unknown at the top of the richest: Zhong Shanshan. The 66-year-old is considered an anti-Jack-Ma, a lone wolf who does not criticize the leadership, and above all, the king of mineral water bottles in the Middle Kingdom.

With a fortune equivalent to 75 billion euros, the 66-year-old is already in sixth place in the ranks of the richest people on earth, including ahead of US investor Warren Buffet. In the previous year alone, Zhong is said to have earned more than 50 billion euros.

The main reason for the success is the sale of what is by far the cheapest mineral water in China. A half-liter plastic bottle called Nongfu Shanquan costs just under two yuan (25 cents). Zhong holds 84 percent of Nongfu Spring, the largest beverage company in the People’s Republic.

The multibillionaire’s second pillar is the pharmaceutical company he founded, Beijing Wantai, in which he holds 75 percent. On the one hand, it produces vaccines and hepatitis test kits, on the other hand, it is working on a vaccine against corona, which is to be administered as a nasal spray.

In November, Wantai Pharmacy Enterprise began a phase 2 study with 720 subjects in Jiangsu Province. Phase three should start soon before admission. The company, founded in 1993, currently employs 1000 people. Wantai was only listed on the Shanghai and Hong Kong stock exchanges in April 2020 – the share price has since increased by almost 2,400 percent.

School dropouts and reporters

The billionaire’s life is not just one success story. He dropped out of school at the age of 12. His parents were persecuted by the communists during the Cultural Revolution. Zhong later tried his hand at being a reporter and sold erectile dysfunction pills. However, the authorities doubted the effectiveness of his agent and withdrew the young entrepreneur’s license. (eku)