CNBC Insight Learn from China’s Richest Man, Bankrupt-Now Worth IDR 900 T Entrepreneur – 9 hours ago

Jakarta, CNBC Indonesia Forbes again updated the list of the richest people in China, Thursday (9/11/2023). The results show that the total assets of the 100 richest people in China decreased slightly from US$ 907.1 billion to US$ 895 billion.

According to Forbes, this decline was caused by tensions in US-China relations and many cases of default among property developers. However, the latest list of China’s richest people has not experienced any significant changes.


China’s first richest person remains Zhong Shanshan after being undefeated for the previous two years. According to business media records, Zhong has fantastic assets, namely US$ 62.6 billion or Rp. 980 trillion. With these assets, Zhong was also named the 15th richest person in the world.

Often goes bankrupt

It should be noted that Zhong’s acquisition of such a large treasure was not as easy as turning the palm of his hand. This man, born in 1954, initially did not think he would become a successful person.

The reason is, in his childhood he lived a life full of difficulties. In fact, he almost lost his life.

This near-death tragedy occurred during the Cultural Revolution (1966-1976). Zhong, who grew up in an intellectual family, was targeted by the Chinese government. His father and mother were often abused. Little Zhong saw the tragedy so often that his childhood happiness was lost.

In fact, as a result of this, Zhong was forced to drop out of school and had to work hard to find work at a young age. As written South China Morning Post (SCMP), after experiencing those dark times he worked as a bricklayer and carpenter.

When Zhong grew up he continued studying at Zheijang Radio and TV University in the 1970s. He studied journalism and after graduating had a career as a reporter in local media, Zheijang Daily, although his journalistic career did not last long.

Entering 1988, Zhong changed his mind to becoming an entrepreneur. He took advantage of the momentum of economic growth in Hainan by founding a newspaper Pacific Post.

Unfortunately, the business went bankrupt. Not giving up, he then continued to do business in oysters, mushrooms, turtles, shrimp, and selling curtains. And, all of them had the same fate: bankruptcy!

All the capital spent just disappeared. Even so, with enthusiasm, Zhong restarted the business.

This time it moved into the pharmaceutical sector in 1993. The business sold supplements made from turtle meat which could increase immunity and relieve insomnia.

BLuckily, the drug business succeeded in making Zhong a big profit. It is not known how much, what is certain is that the profits were diverted to building a business that would make Zhong China’s richest person.

In 1996, Zhong founded a mineral water business, Nongfu Spring. According to Zhong, the establishment of this business was based on a simple reason: people will always need water to drink, and Nongfu will provide pure water.

As expected, Nongfu is selling well on the market. Moreover, Nongfu’s business strategy is different from competitors. The company sells water directly from sources, unlike competitors who sell water distilled at factories.

Long story short, from this method, Nongfu quickly became the king of mineral water and controlled the entire water market in China. In 2020, Nongfu officially IPOed and was listed on the Chinese stock exchange.

From there, Zhong’s wealth increased drastically from US$ 16 billion or Rp. 250 trillion to more than US$ 50 billion or Rp. 780 trillion. Over time, Zhong, who is also in the vaccine business, has become richer until he has assets of US$ 62.6 billion or Rp. 980 trillion.

However, wealth did not make this man who was almost killed forget the land. Quote InsiderZhong has a simple appearance every day and does not want to show luxury.

He is known to only have one apartment as a permanent residence, often eats alone in cheap cafes, and often wears Marc Zuckerberg-style clothes: T-shirt and sneakers.

Not only that, Zhong is also known as a mysterious figure. He was even nicknamed “The Lone Wolf” because he was so mysterious. He never wanted to appear in public or be interviewed by the media.

He is also unaffiliated with politics and the business community. And he keeps secret information about his personal and family life. Even though he closed himself off, Zhong was still able to exist with his various businesses that dominated the Chinese economy.

[Gambas:Video CNBC]

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