
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
- Hangzhou Wahaha GroupFounder13
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.
Legal issues and controversies
Tax evasion allegations
Zong claimed to have been paid a salary of €3,000 and €100,000 annual allowances plus a bonus worth 1% of the annual profit of the joint ventures, totaling 70 million yuan of income every year.
Caijing reported in April 2008 that Zong was being investigated for allegedly evading taxes amounting to some ¥ 300 million. An investigator had alleged that Zong "...earned far more than this and hasn't fully reported the tax for years". Caijing implied there may have been less than transparent payments through a web of Hong Kong-registered accounts of Zong, Shi, daughter Fuli, and the former Party secretary of Wahaha, Du Jianying. Zong had apparently paid more than 200 million yuan in back taxes in October 2007, after the investigation kicked off. However, the magazine suspected Zong still owed millions more.
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
Links
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataZong Qinghou on Wikidata
- 2WikipediaZong Qinghou on Wikipedia
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- 7
- 8Wikidataplace of death, as reported
- 9
- 10
- 11Wikidataspouse, as reported
- 12WikidataZong Qinghou: award, on Wikidata
- 13WikidataHangzhou Wahaha Group, Founder
- 14Wikimedia CommonsZong Qinghou photo by 中国新闻社, CC BY 4.0
- 15WikidataNet worth