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This article directly stems from the research process for our Asian single family office database. Our list of Asian single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity and renewables.
Also known as Zeng Yuqun, Robin is a Chinese billionaire who amassed his fortune by founding the battery manufacturing company Amperex Technology Limited which was then acquired by TDK in 2005. As of September 2022, Robin has an estimated net worth of $34.7bn putting him amongst the top 30 richest people in the world and 3rd in China’s rich list. In this article, we will investigate if Robin Zeng manages his wealth through a family office.
No Zeng family office but wealth managed through Contemporary Amperex Technology (CATL)
CATL was founded as a spin off company from Amperex Technology in 2012 by Mr Zeng and was established to continue the EV battery manufacturing done by ATL which was acquired by TDK. CATL was listed on the Shenzhen Stock Exchange in 2018 and has partnerships with major car brands including BMW and Volkswagen. In 2018, German automobile group BMW announced their plans to purchase $4bn worth of batteries from CATL for the electric models Mini and iNext. In August 2022, CATL announced plans to invest €7.34bn to continue their European expansion with the development of a new 221-hectare site in Hungary. The project will create 9,000 new jobs and will supply batteries for the electric models of European car makers. The deal represents the largest investment in Hungary, dwarfing the previous $2.29bn investment by South Korean battery maker SK ON’s.
Picture source: Kumpan Electric
