Billionaire to watch: Tesla's China battery partner is richer than Jack Ma

Zeng Yuqun's net worth has jumped to $49.5 billion, making him one of the five richest people in Asia for the first time.

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.

It’s the latest sign of how a new generation of tycoons in China is amassing vast fortunes in the