Business
‘Lone Wolf’ tycoon creates 68 millionaires with water empire – The Australian Financial Review
Zhong Shanshan’s 84 per cent post-IPO stake in Nongfu is valued at $36 billion, putting his net worth at $52 billion.
The biggest beneficiaries are Zhong’s extended family. Lu Xiaowei, an elder sister of his wife, has a 1.4 per cent stake valued at $US432 million, while two other of her siblings have holdings worth $US428 million each. His sisters, Zhong Xiaoxiao and Zhong Xuanxuan, own $US428 million and $US214 million in Nongfu shares, respectively. Zhong’s wife and children aren’t listed as shareholders, though the IPO filing lists his son as a non-executive director.
Nongfu and Zhong didn’t respond to requ…
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