This Chinese Battery Company Has Produced More Billionaires Than Google Or Facebook
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Robin Zeng, founder and chairman of Contemporary Amperex Technology. (Photo by Paul Zinken/picture alliance via Getty Images)
picture alliance via Getty Images
A little known but fast growing Chinese maker of batteries for electric vehicles now has more billionaires on Forbes’ list than just about any other public company. A whopping nine billionaires have fortunes of $1 billion or more based on their stakes in Contemporary Amperex Technology (known as CATL). Shares of the firm, which supplies batteries to automakers including BMW, Volkswagen and Daimler’s Mercedes-Benz, have soared over 150% in the past year as demand for electric vehicles has heated up. CATL’s founder and chairman, 52-year-old Robin Zeng, is now the 47th richest person in the world, worth $32.5 billion, more than triple the $9.7 billion fortune he sported in March 2020 when the Covid-19 pandemic crashed t