Zong Qinghou, the founder and chairman of Wahaha Group, China's leading beverage maker, passed away on February 25, 2024, at 79, due to an unspecified illness, the company announced today.
Zong, a three-time topper of Forbes China's mainland rich list, was a prominent figure among entrepreneurs in Zhejiang Province.
Born in 1945 in Jiangsu Province, Zong's journey from a laborer at a farm to the helm of Wahaha is a representative tale of the first generation of entrepreneurs after the reform and opening up.
After completing junior high school, he worked for 14 years at two farms. Returning to Hangzhou in 1978, he became a laborer at a box factory.
In 1987, at the age of 42, Zong borrowed 140,000 yuan (US$19,460) to start the precursor of Wahaha. The launch of the Wahaha children's drink in 1988 brought him significant success.
Reflecting on his journey, Zong expressed gratitude for the opportunities provided by the Party and the government, emphasizing the importance of entrepreneurs contributing to societal well-being through taxes, employment, and charity.
Recognizing the pivotal phase of succession for many Zhejiang entrepreneurs, Zong had early plans for the transition. His only child Zong Fuli returned to China in 2004 after finishing her education abroad, establishing Hongsheng Beverage Group.
In 2018, she became the PR department director and currently serves as the vice chairman and general manager of Wahaha Group.
In 2023, Zong Qinghou was ranked 31st on the Hurun China Rich List with a net worth of 95 billion yuan.
