According to an official announcement from Wahaha Group, Comrade Zong Qinghou, the founder and chairman of Wahaha Group, passed away at 10:30 a.m. on February 25, 2024, at the age of 79 due to ineffective medical treatment.
The passing of Zong Qinghou has led to an outpouring of emotions, with many industry leaders expressing their condolences, marking the end of a legendary figure in the Zhejiang business circle.
Countless netizens are mourning this legendary Zhejiang entrepreneur. One netizen remarked, "The rows of Wahaha AD calcium milk really hit home...".
Over 30 years ago, at the age of 42, Zong Qinghou embarked on the entrepreneurial path with borrowed capital of 140,000 CNY, riding a tricycle without hesitation. Many of Wahaha's products, now regarded as the "originators of internet-famous beverages", have become enduring memories of youth for several generations. With the growth and expansion of Wahaha Group, Zong Qinghou was crowned China's richest individual three times from 2013 to 2016.
However, this richest man in China lived a more frugal life than many ordinary people. According to staff around him who spoke to CCTV reporters, "The boss is used to being frugal, and his annual expenses do not exceed fifty thousand CNY".
Of course, Zong Qinghou also treated his employees exceptionally well. For example, over the years, he built multiple affordable housing projects for employees, including old factory buildings in prime locations in Hangzhou. After the demolition of the old factory buildings in 2019, he decided to rebuild affordable housing in the same area, relieving employees of mortgage worries so they could focus wholeheartedly on their work.
Zong Qinghou also once stated: "A boss should care about the interests of employees, and not laying off employees over the age of 45 is almost an unwritten rule at Wahaha".
As for money, Zong Qinghou had a very open perspective. In interviews, he talked about his "philosophy of wealth": "I am considered wealthy now, but I believe that money still belongs to society."
