Zong Qinguou Net Worth, Family, Education and Career.
Zong Qinguou Net Worth… Zong Qinghou is a Chinese entrepreneur, founder, chairman and CEO of the Hangzhou Wahaha Group, a beverage company in China. He is the 3rd richest man in China and the 35th richest man in the world. Zong has an estimated net worth of $20 billion.
Zong Qinghou was born on October 1945. He is a native of Zhejiang. He belonged to a low class family, his mother was a teacher and his father worked at several farms and factories. Zong is married to Shi Youzhen who is also involved in running his business and they have only one child, Kelly Zong (daughter) who was born in 1982 and also holds a prominent position in her father’s company.
Zong had liitle education; he only graduated from secondary school.
After he graduated from secondary school, he worked at the Zhoushan salt farm and did other menial jobs due to his low level of education. He aimed at starting a mini grocery at a school, selling milk in Shangcheng District, Hangzhou.
He headed the embryonic Wahaha business that was into the distribution of soft drinks, ice and stationery. He borrowed the sum of CNY 140,000 and he and two retired school teachers began production and distribution of milk.
Zong obtained independence from a government partner by stressing his links with Datone. He built Wahaha into the largest beverage manufacturer in the People’s Republic of China due to his autocratic style and workaholic ethic.
In 2007, the partnership between the WHH joint venture and Groupe Danone turned sour. Datone accused Wahaha of operating a separate company which monitored and siphoned $100 million from their partnership. But later on, Datone and Wahaha reached an agreement and dissolved their partnership. On 5th June, 2007 Zong resigned as the chairman of the joint ventures.
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