Elon Musk's China battery partner is now richer than Jack Ma
It’s the latest sign of how a new generation of tycoons in China is amassing vast fortunes in the clean-energy boom. Investors have pushed up stocks such as CATL, a key supplier to Tesla Inc, as the country leads the market for electric-vehicle sales and pursues an ambitious policy of reaching carbon neutrality in 2060. “The billionaire ranking used to be dominated by real estate tycoons and later tech entrepreneurs, and now we are seeing more from the new energy sector,” said Hao Gao, director of Tsinghua University’s NIFR Global Family Business Research Center. “As the industry l...