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Fri September 7, 2012
Wahahah Founder Laughs All The Way To The Bank
Originally published on Fri September 7, 2012 10:15 am
STEVE INSKEEP, HOST:
And today's last word in business comes from China, and the word is: Wahaha. That's the name of China's third-largest beverage company. It sells soda, juice and other bottled drinks.
RENEE MONTAGNE, HOST:
The name means laughing children. It turned out the man who runs it is the one with the most to laugh about.
INSKEEP: Zong Qing Hou is now the richest man in China, according to Bloomberg billionaire's index, which calculated his net worth to be $21.6 billion.
MONTAGNE: He founded Wahaha 25 years ago with a $22,000 loan. Last year, the company earned about $11 billion in revenue.
INSKEEP: Laughing all the way to the bank - Wahaha.
MONTAGNE: And that's the business news on MORNING EDITION, from NPR News. Transcript provided by NPR, Copyright NPR.