Water tycoon is China’s richest as wealth crackdown batters Jack Ma

Bottled-water tycoon Zhong Shanshan has become China’s wealthiest person, according to an annual ranking released Wednesday, as a government campaign to rein in the super-rich took a big bite out of the fortunes of perennial front-runners like Alibaba co-founder Jack Ma.

Zhong, in his late 60s, has seen his fortune swell following the stock listings last year of his Nongfu Spring mineral water and separate pharma company Wantai Biological Pharmacy Enterprise, which has tapped into massive demand for Covid-19 test kits.