Zong Qinghou
Photo: 中国新闻社, CC BY 4.0, via Wikimedia Commons14

Zong Qinghou

Chinese businessman (1945–2024)

Zong Qinghou (Chinese: 宗庆后; 11 October 1945 – 25 February 2024) was a Chinese billionaire businessman, and the founder, chairman and CEO of the Hangzhou Wahaha Group, China's leading beverage company. As of March 2022, his net worth was estimated at US$8.7 billion.2

From Wikipedia’s article on Zong Qinghou (this version), CC BY-SA 4.0.

Born Oct 11, 1945, died Feb 25, 2024.1

Net worth $8.4B (as of 2019, per The World's Billionaires).15 Richest people

Companies

Career

Occupation: politician, entrepreneur.5

  • Date not recordedFounded Hangzhou Wahaha Group3
  • Date not recordedNational People's Congress deputy4
  • Date not recordedChief executive officer, Hangzhou Wahaha Group4

Personal life

  • BornOct 11, 1945, Hangzhou6
  • DiedFeb 25, 2024, Hangzhou7 8
  • CitizenshipPeople's Republic of China9
  • SpouseShi Youzhen10 11

Zong served as a delegate to the Chinese National People's Congress from 2002 to 2018.

Zong was married to Shi Youzhen (施幼珍), and they had one child, a daughter, Fuli (Kelly) Zong (宗馥莉). Shi was purchasing manager at Wahaha. Zong once held permanent resident status in the United States, which he had obtained to make it easier for him to travel to the country and look after his investments there. His daughter attended Pepperdine University in Southern California and was naturalized as a U.S. citizen, but later moved back to China and in 2007 began the procedure to renounce her U.S. citizenship. Zong gained wide support as he played the role of "David" against a French "Goliath" gobbling up Chinese companies. However, with the revelation of his green card in 2008, public perceptions changed and his reputation suffered. In 2013, he stated that because he did not re-enter the U.S. for several years, his status was thus deemed abandoned.

Zong stated that he lived on less than $6,000 per year, attributing his thriftiness to the teachings of Mao Zedong. Zong also emphasized cost-cutting measures in his approach to business, describing cost control as a key element in Wahaha's operations.But this is all a facade and when he died in 2024, it was revealed that he had a second secret family (including 3 children) and real estates abroad, including the United States.

Zong Qinghou died on 25 February 2024, at the age of 78.

From Wikipedia’s article on Zong Qinghou (this version), CC BY-SA 4.0.

Awards

  • Date not recorded100 Outstanding Private Entrepreneurs in the 40 Years of Reform and Opening-up12