The self-made billionaire, who was once China’s richest man, died of an illness on Sunday at the age of 79, his company Hangzhou Wahaha Group said in a brief statement, without providing further details.
Victory in that bitter battle boosted Zong’s wealth to $8 billion, making him China’s richest man in 2010 and again in 2012, according to Forbes.
He was nicknamed “the richest man in cloth shoes” for always sporting plain black shoes, complete with a dark jacket and slacks.
That year, Zong founded the Hangzhou Wahaha Group after acquiring a failing state-run canned food factory.
The dispute was eventually settled in 2009, with Danone selling its stake for about $500 million and ceding all control to Wahaha.
Persons:
Hong Kong CNN — Zong Qinghou, Zong, Forbes, Jack Ma, Lei Jun, Zong Fuli, Mao Zedong’s, ”, Deng Xiaoping, Wahaha, Danone
Organizations:
Hong Kong CNN, Hangzhou Wahaha, Danone, Forbes, Getty
Locations:
China, Hong Kong, Hangzhou, “, Guangzhou, Beijing