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Global Automotive Industry Boosts Billionaires' Wealth, Chinese Tycoons Stand Out

Publish Date:2024/04/02

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According to research by MarketsandMarkets, China accounts for approximately 60% of global electric vehicle sales, significantly contributing to the wealth of many billionaires, particularly in China. By 2024, the used electric vehicle market is expected to gain momentum, with sales anticipated to rise by about 100% compared to 2022 and 40% compared to 2023. Additionally, global sales of passenger and commercial vehicles are projected to reach 95 million units in 2024, increasing by over 3.1% from 2023. Several billionaires, including Elon Musk with a net worth of $195.3 billion, have amassed part of their fortunes through involvement in and ownership of automotive companies. Other notable figures include Robin Zeng, Stefan Quandt, and Susanne Klatten, who have also amassed significant wealth in the automotive industry.

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Source:GAIKINDO

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