Soft drink tycoon overtakes Baidu’s Li as China’s richest man

6 September 2012 | 2 minutes read

Hangzhou Wahaha Group’s Zong Qinghou has overtaken Chinese search engine tycoon Robin Li as China’s richest man after unveiling that his stake in the closely held company was more than double of previous estimates. The Chinese beverage mogul owns over 80% of Wahaha, making his net-worth total US$21.6 billion placing Zong just behind chocolate maker Michael Ferrero who has US$21.8…

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