Zong Qinghou, a Chinese business magnate whose leading beverage firm once made him the richest person in the country, died Sunday, his company said. Zong was the founder of the Wahaha conglomerate, which specializes in bottled water, soft drinks, tea and other products. State media reported this week that Zong was receiving hospital treatment but gave no details of his illness. In 2010, Zong was listed by Forbes magazine as China's richest person with a fortune worth $8 billion. In 2021, Zong took a step back from front-line work, appointing his daughter Zong Fuli as Wahaha's vice-chairperson and general manager.

Source: Forbes February 25, 2024 22:40 UTC