Hyperdrive
Elon Musk’s China Battery Partner Is Now Richer Than Jack Ma
- CATL founder Zeng’s net worth has surged to $49.5 billion
- Battery maker has risen more than 20-fold since listing
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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.