Zeng Yuqun is the founder of Contemporary Amperex Technology, the the world’s biggest electric-vehicle battery maker. (Photo: Bloomberg)
Zeng Yuqun, the founder of the world’s biggest electric-vehicle battery maker, has overtaken Jack Ma in the wealth rankings, a symbolic moment in the rise of China’s green billionaires.
Zeng’s net worth has jumped to $49.5 billion, according to the Bloomberg Billionaires Index, as shares of Contemporary Amperex Technology Co. Ltd. surged this year. That exceeds Alibaba Group Holding Ltd. co-founder Ma’s wealth of $48.1 billion and makes Zeng one of the five richest people in Asia for the first time.
It’s the latest sign of how a new generation of tycoons in China is amassing vast fortunes in the clean-energy boom. Investors have pushed up stocks such as CATL, a key supplier to Tesla Inc., as the country leads
First Published: Jul 09 2021 | 08:41 AM IST