According to media reports, Zeng Yuqun, the founder of the world's largest electric vehicle battery maker, has surpassed Jack Ma in net wealth.

With CATL's stock price soaring, Zeng Yuqun's net worth has jumped to $49.5 billion, surpassing Alibaba Group co-founder Jack Ma's $48.1 billion and putting him among the top five wealthiest people in Asia, according to the Bloomberg Billionaires Index.

Contemporary Amperex Technology Co. Limited, abbreviated as CATL, is a Chinese battery manufacturer and technology company that partners with Tesla in supplying EV batteries.