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China Has a New Richest Person, With Jack Ma Dethroned

  • Zhong has added almost $52 billion this year after two IPOs
  • Tech shares sank Wednesday, with Musk and Bezos losing most
Bloomberg business news
Jack Ma Dethroned by 'Lone Wolf' as China's Richest Person
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A bottled-water and vaccine tycoon has become China’s wealthiest person in a day also marked by massive losses among the world’s tech elite.

Zhong Shanshan’s net worth reached $58.7 billion on Wednesday, $2 billion more than Jack Ma’s, according to the Bloomberg Billionaires Index. Zhong is now Asia’s second-richest person, behind India’s Mukesh Ambani, and is the 17th wealthiest in the world, ahead of Charles Koch and Phil Knight.