Zong Qinghou, a prominent Chinese business magnate with a rags-to-riches story, died on Sunday at 79 after “treatment for an illness proved ineffective,” his company said. In 1987, Zong founded the Wahaha conglomerate, whose bottled water, soft drinks, tea and other products can be found in retail outlets across China. He was listed by Forbes magazine as China’s richest person in 2010, with a fortune of $8 billion (€7.4 billion). AdvertisementStaying under a bridgeZong did not go into business until he was in his 40s, when he began selling soft drinks to children. In 2021, Zong took a back seat in the company, and appointed his daughter, Zong Fuli, as vice chairperson and general manager.

Source: Forbes February 26, 2024 13:16 UTC