Zeng Yuqun has become Asia’s one of the richest men

In the rise of China’s green billionaires, Zeng Yuqun, who is the owner of the world’s biggest and most famous electric-vehicle battery maker, has overpowered Jack Ma in the world’s wealth rankings. This event is a symbolic moment in the world’s history.

According to Bloomberg Billionaires Index report, Zeng Yuqun’s net worth has leapt up to $49.5 billion. He is a shareholder of Contemporary Amperex Technology Co Ltd. His net worth has exceeded the Alibaba Group Holding Ltd co-founder Jack Ma’s net worth of 48.1 billion dollars. This has made Zeng Yuqun one of the wealthiest persons in Asia and made him one of the top five richest people in Asia for the first time.

This is a sign that how a whole new generation of business tycoons of China is conglomerating huge fortunes in the clean energy boom system. China mostly leads the market of electronic vehicle sales, so, the investors have also pushed up the stocks of companies such as CATL, which is a key electronic supplier of Tesla Inc. China has also taken up a very ambitious project of achieving carbon neutrality by the year 2060.

The director of Tsinghua University’s NIFR Global Family Business Research Center, Hao Gao has stated that in past years the top wealthiest men of the country used to be real estate business tycoons but in recent years, it has shifted to technology entrepreneurs and now more a businessman from the energy sector is becoming the richest of all. The carbon emission goal  has benefited all-electronic vehicle battery companies but CATL has been benefited the most
form this project.

Though a spokesperson from CATL company has declined the rumours about the increased net worth of Zeng Yuqun. But Zeng Yuqun has built up the CATL into a battery producing giant in less than a decade.