{
  "id": 16122944,
  "title": "World's largest battery maker CATL's billionaire CEO loses nearly $15B in fortune as shares tumble",
  "url": "https://urgent.news/2026/10/22/worlds-largest-battery-maker-catls-billionaire-ceo-loses-nearly-15b",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T23:27:09.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/billionaires/world-s-largest-battery-maker-catl-s-billionaire-ceo-loses-nearly-15b-in-fortune-as-shares-tumble-5135638.html"
  },
  "original_language": "en",
  "account": "Billionaire CEO of world's largest battery maker CATL, Zeng Dehai, has seen his fortune plummet by nearly $15 billion as shares of the company dropped 33% in Shenzhen and 25% in Hong Kong. The sharp decline, which marked CATL's worst selloff in over a year, was triggered by disappointing third-quarter results that failed to meet investor expectations. Zeng's net worth fell from $53.2 billion in March to $38.3 billion, according to Forbes. CATL, which holds a dominant 39.4% share of global electric vehicle (EV) battery usage, saw its market valuation nearly halve since May. The company's market share in China's power battery installations dropped to 40.9% in September from 49.8% in January, as some Chinese automakers diversified by sourcing from rivals. CATL's share price decline intensified last month, with concerns growing over the \"de-CATLization\" trend. CATL's third-quarter results fell short of market expectations, with margins narrowing across its business units due to rising costs and other headwinds. The company's net profit rose 14.5% year-on-year to 21.2 billion yuan but was slower than the 36.5% increase in the previous quarter. CATL also unveiled a new generation of batteries for heavy-duty trucks and plans to expand its battery-swapping network. Despite the market turbulence, the firm remains optimistic about global demand for EVs.",
  "summary": "Robin Zeng, founder and CEO of world's largest battery maker Contemporary Amperex Technology (CATL), has seen his net worth drop by US$14.9 billion since March as the firm's stock plummeted.",
  "key_points": [
    "CATL CEO Zeng Dehai's fortune drops $15B after 33% share decline",
    "Disappointing Q3 results fail to meet investor expectations",
    "CATL's market share in China's power batteries falls to 40.9%"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}