China’s Bottled Water Mogul Gains $5 Billion In One Day, Becomes World’s Sixth Richest Person

China’s newly crowned richest person has added another $5.4 billion to his fortune. Zhong Shanshan, the chairman of bottled water company Nongfu Spring, is now the world’s sixth richest person, with a $92.1 billion net worth thanks to a stratospheric rise in his company’s share price. The Hong Kong listed firm went public last September; its stock has tripled in value over the past 4 months. Shares were up 6.5% on Tuesday alone. 

According to its offering prospectus, Zhong owns a massive 84.4% of the company; he and his wife’s relatives own an additional 6.2% combined, and 63 other investors, primarily current and former employees and consultants, own a collective 6%. Although the company describes itself as having a 14% public float, in reality the public owns something closer to just 3.5%. The prospectus states that “Generally, at least 25% of the issuer’s total issued…