Zeng Yuqun, a Chinese entrepreneur recently overtook Alibaba founder Jack Ma in terms of money after his net worth jumped to $ 49.5 billion after the shares of his company, Contemporary Amperex Technology (CATL) saw a sudden surged, according to the Bloomberg Billionaires Index.  

Zeng’s company is the world’s biggest auto-mobile battery supplier and a key battery provider to auto-maker Tesla, which is owned by business Tycoon and now internet sensation Elon Musk.

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Who is Zeng Yuqun?

Zeng Yuqun is a 53-year-old Chinese entrepreneur. He is the founder and chairman of the battery manufacturer Contemporary Amperex Technology that supplies batteries to one of the world’s largest automaker Tesla.

Zeng ranked 19th on Forbes’ China Rich List for 2020 and 52nd on the outlet’s World’s Billionaires List for 2021.

According to Forbes, he overtook business magnate Li Ka-Shing becoming the wealthiest person in Hong Kong with a real-time net worth of $34.5 billion at the time in May.

With the recently reported surge in his company’s share, Zeng became one of the five richest people in Asia, a first for the CATL chairman.

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Talking about Zeng’s background, he hails from Ningde in China’s Fujian Province. He earned his PhD holds from the Institute of Physics at the Chinese Academy of Sciences.

According to Celebrity Net Worth, Zeng worked for a state-owned shipbuilding company in Fujian before launching his own battery manufacturing company.

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In less than a decade since the establishment of his company, Contemporary Amperex Technology in 2011, Zeng through his efficient business skills and technical prowess managed to expand his corporation and make it the largest global producer of rechargeable cells for plug-in vehicles.

Today, Zeng’s company is the key supplier to almost all the leading automakers including Tesla, BMW, Volkswagen and Geely.

Zeng is now richer than one of China’s most prominent businessmen and founder of Alibab Inc founder Jack Ma.