A CHINESE tycoon called Lone Wolf who owns a factory making vaccines has become Asia’s richest person with £53bn in his bank thanks to Covid-19.
Zhong Shanshan, 65, has seen his wealth surge £5.1bn this year as the coronavirus pandemic ravaged the world after breaking out in the Hubei province city of Wuhan.
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Mr Zhong has overtaken India’s Mukesh Ambani, the billionaire chairman of Reliance Industries — a technology and e-commerce titan — as the richest man in Asia.
In April, as the coronavirus pandemic wreaked havoc across the world, he took vaccine-maker Beijing Wantai Biological public in April and listed its shares on the Chinese stock market.
The company is among those developing a nasal Covid-19 vaccine.
This dramatic rise has pushed Mr Zhong up to first place in Asia and is one of the fastest accumulations of wealth in history, according to Bloomberg.
He is known as the “Lone Wolf” because he keeps a low profile in the business world and rarely makes public appearances or speaks to the media.
“I am a solitary person, and I don’t care what my colleagues are doing or thinking,” Shanshan once reportedly said.
Born in 1954 in Hangzhou, Shanshan attended the Open University of China.
He also worked as a newspaper reporter in the 1980s before founding pharmaceutical company Yangshengtang Co Ltd.
In October it emerged that China has seen its economy grow at its fastest rate since the coronavirus pandemic, new figures show.
The country’s exports rose 9.9 per cent as the global economy picks up with its firms rushing to grab business from their rivals still crippled by the coronavirus.
Exports are now at their highest level since the pandemic and recent figures for overall economic growth show China is on track to be the only country to reach pre-crisis levels by the end of this year.
With the global economy restarting, Chinese firms are rushing to grab market share as their US and European rivals grapple with reduced manufacturing capacity, Reuters reports.