Elon Musk’s Business Partner in China is Already Richer Than Jack Ma
Elon Musk’s Business Partner in China is Already Richer Than Jack Ma
A partner of Elon Musk and founder of the world’s largest electric vehicle battery manufacturer has surpassed Alibaba owner Jack Ma in wealth.
At 53, Zeng Yuqun has a net worth of $50 billion, according to the Forbes Billionaires Index, thanks to CATL shares surging this year. In contrast, Jack Ma’s fortune is estimated to be worth $45.4 billion, following his losing streak since 2020.
The Chinese tycoon, originally from a small village in Fujian province, founded Contemporary Amperex Technology (CATL) in 2011. In less than a decade, he managed to position it as the world’s largest producer of rechargeable cells for electric vehicles.
On June 26, it was announced that CATL had extended its collaboration agreement with Tesla until 2025 to provide batteries for its electric vehicles, something that other companies such as Panasonic and LG also do.
Tesla has signed a new long-term battery cell agreement with China’s Contemporary Amperex Technology Co to guarantee supply between January 2022 and December 2025, according to information from Electrek. $ CATL $ TSLA $ NTTHF #Lithio #EV #Stockstowatch
– CC Inversiones (@cc_inversiones) June 30, 2021
With this, Robin Zeng Yuqun enters a select group of the five richest people in Asia, which includes Zhong Shanshan (Nongfu Spring and Beijing Wantai Biological Pharmacy), Ma Huateng (Tencent and WeChat), Jack Ma and Zhang Yimin (TikTok).
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