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China’s richest man, Zhong Shanshan is worth $77.5 billion, fortune earned from sale of bottled water

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1639896020 Zhong Shanshan

Zhong Shanshan is officially the richest man in China, according to Bloomberg’s Billionaires index. A few months ago, the entrepreneur behind Nongfu Spring mineral water and Wantai Biological Pharmacy Enterprise in Shanghai exceeded Alibaba’s Jack Ma ($38.7 billion) in fortune.

Shanshan’s net worth has now reached $77.5 billion. He can buy 43.4 million troy ounces of gold or 1.05 billion barrels of crude oil with his net worth

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The Chinese bottled water billionaire made huge strides over the years. According to experts, Shanshan’s fortune has grown due to the following factors:

  1. Covid-19 test kits were in high demand, which benefited his pharmaceutical company.
  2. In the past year, the shares of Nongfu Spring and Wantai Biological Pharmacy have been listed on the stock market.

China-based Nongfu Spring is the source of most of the Chinese-born billionaire’s fortune, which comes from his 84% stake. This Hong Kong-listed company went public on September 20, 2020. Hangzhou Youfu and Yangshengtang are investment vehicles owned by Zhong, according to the company’s 2020 annual report.

Nongfu Spring’s valuation was revised when it became publicly traded on September 8, 2020. The result was an increase in net worth calculation of $32 billion.

A hepatitis test kit maker in China, Beijing Wantai Pharmacy Enterprise, is also owned by Zhong. In the company’s 2021 semi-annual report, he owned the stake both directly and through Yangshengtang.

Hangzhou, a city in eastern China, was the birthplace of Zhong. The Paper reports that he failed his college entrance exams twice before enrolling at the Open University of China in the late 1970s.

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In the 1980s, Zhong became a reporter. An island province in southern China, Hainan, is where he set up a bottled water distributor business after a five-year stint in journalism.

Historically, most bottled water in China were distilled, despite science urging that this isn’t healthy. He instead emphasized natural water’s benefits, which further boosted its product’s upside.

Source: NairaMetrics

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Bitcoin Crash: What Nigerian crypto community is saying

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Bitcoin crash

Emeka Nwosu, @_Nwosu_, Co-founder & COO of Scalex a Nigerian crypto P2P system, stated that the recent crash in the crypto market was expected and we still expect some more corrections in the coming days to weeks.

He added that “2020 & 2021 was a monumental period for the crypto space with loads of protocols reaching new All-time highs and this also coincided with the influx of investors.”

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He added that with the inflation figures coming out of the US and the expectation of monetary policies targeted at tightening money supply we are expecting a rise in interest rates this year, citing that most people will move assets from more volatile markets to more secure ones.

“The impact of this will be a sluggish recovery in the crypto market but it will recover because a lot of other possibilities have been unlocked. The Metaverse as well as Facebook and multiple tech giants moving into the blockchain space will continue to drive interest. So I predict a very healthy year for the Market. On BTC, the Lightening Network and Taproot will take centre stage this year. We expect to see good recovery on BTC, it is the Alpha Asset and it won’t disappoint,” he said.

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Source: NairaMetrics

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Germ Traps in the Kitchen

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SweepSouth germ traps in the Kitchen

From fridges to coffee makers, these are 5 germ traps in your kitchen.

We all want our homes to feel sparkly clean, but there are some areas that may not be making it onto your household chores list.

Aisha Pandor, whose on-demand home services company SweepSouth helps people to keep their homes spotless, lists the places we often forget to clean.

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In a study by global health organisation NSF International looking at where the highest concentration of germs can be found in the average household, three of the top five germ hot spots were in the kitchen – which leads to the first area that needs a good clean.

The back of your fridge

Topping the list of places in the home that rarely gets cleaned is the back of the fridge – that’s the exterior back, not inside! The coils located there work to cool the air down, but they can’t do so efficiently if they’re coated with grime. To reach the coils, Aisha advises you to unplug your fridge, pull it away from the wall and gently brush off any dirt and dust on the coils.

Do this annually and it will help you save on power costs. A fridge is one of the top energy-using appliances in the home, and simply cleaning its exterior coils can reduce the amount of energy it uses by up to 30%. Remember to leave space between your fridge and the wall once you’ve pushed it back into position, to allow air to freely circulate.

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Backsplashes

Tiled backsplashes are often overlooked during cleaning, but they’re notorious for attracting grease and grime. That grease acts as a magnet for dust and dirt, says Aisha — not exactly the type of environment where you want to be preparing food.

To clean backsplashes using natural products, mix two cups of distilled white vinegar with a cup of water and 15 drops of eucalyptus oil. Dab a cloth into the mixture and rub over the tiles to clean. You can use this cleaning mixture on any shiny non-porous surface, like sinks, too.

Ovens and hobs

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At the very heart of the kitchen’s food preparation, ovens are prime real estate for germs. Clean the interior regularly, and line the bottom with foil to catch any drips and spills. When the foil becomes grimy, simply peel off and throw it away.

It’s not just the inside that needs cleaning, though — stove knobs are in the top 10 for common places where germs hide. To clean, remove the knobs and wash in hot soapy water. Rinse well, allow to dry, and reinstall. On a gas hob, dismantle the gas rings and clean separately in hot soapy water.

Can opener

Chances are that you seldom take a close look at your can opener, yet it’s surprising how grimy this kitchen aid can become. Can openers can harbour bacteria like salmonella and e.Coli, and should be washed after every use to clean the gears and cutting wheel.

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Dry thoroughly to prevent rust. If there’s a build-up of dirty residue in your can opener’s wheel, Aisha has a nifty trick to clean it: simply clamp the wheels onto a piece of dry paper towel and turn the handle to get rid of any gunk.

Coffee maker cleanse

Coffee machines’ water tanks or reservoirs usually have lids to stop dust, dirt and insects from getting in. However, a study by a health organisation, NSF International, of where the highest concentration of germs can be found in the average household, showed that coffee machine water tanks are the fifth most germ-ridden place in the house.

A tank’s moist, dark, location is a prime place for germs and bacteria to grow. In fact, the study discovered that 50% of households had yeast and mould in their coffee maker water tanks, and one in 10 had traces of coliform, a bacteria found in animal and human faeces that can cause gastrointestinal upset and flu-like symptoms. If you regularly make coffee, Aisha advises that you rinse the water reservoir regularly — if not daily, at least every week.

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While experts do say we need some exposure to germs to help build strong immune systems, we need to limit being around germs that cause serious illnesses, says Aisha. By cleaning the above areas regularly, you’ll help keep your kitchen more hygienic and safer.

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