Richest People in Automotive Industry 2024 UPDATE Net Worth

Richest People in Automotive Industry 2024 UPDATE Net Worth

The automotive industry is home to some of the wealthiest individuals globally. This article by worldofceos explores the top 20 richest people in the automotive sector, detailing their wealth, contributions, and impact on the industry.

10+ Richest People in Automotive Industry

Elon Musk

Elon Musk, with a net worth of $212.3 billion, is the wealthiest individual in the automotive industry. As the co-founder of Tesla, SpaceX, and more, Musk has revolutionized the electric vehicle market. His wealth primarily comes from his 12% ownership in Tesla, along with significant stakes in SpaceX and other ventures. Musk’s relentless innovation and vision have propelled Tesla to the forefront of the automotive sector.

Robin Zeng

Robin Zeng, the founder and chairman of CATL, has a net worth of $28 billion. CATL is a leading supplier of electric vehicle batteries, partnering with major automakers like BMW and Volkswagen. Zeng’s strategic leadership and innovative approaches in battery technology have been pivotal in his wealth accumulation and the success of CATL.

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Stefan Quandt

Stefan Quandt, with a net worth of $28.2 billion, is a significant shareholder in BMW. As a German industrialist and heir, his 23.6% stake in BMW has been a substantial source of his wealth. Quandt’s involvement in the company’s supervisory board has also played a crucial role in shaping BMW’s strategic direction.

20 Richest People in Automotive Industry

Susanne Klatten

Susanne Klatten, holding a net worth of $27.2 billion, is another prominent figure in the automotive industry. She owns about 19% of BMW and serves as the deputy chair of Altana, a chemical manufacturing company. Klatten’s strategic investments and business acumen have significantly contributed to her wealth.

Eric Li

Eric Li, also known as Li Shufu, has a net worth of $18.6 billion. He is the chairman of Geely, one of China’s largest automakers. Li’s acquisition of Volvo and stakes in other luxury car brands have expanded Geely’s global footprint and substantially increased his wealth.

Wang Chuanfu

Wang Chuanfu, the founder, chairman, and CEO of BYD Company, has a net worth of $15.9 billion. BYD is the world’s largest electric vehicle manufacturer by sales. Wang’s innovative approach and leadership in transforming BYD from a battery manufacturer to an EV giant have been key to his financial success.

Huang Shilin

Huang Shilin, with a net worth of $12.9 billion, is a former vice chairman of CATL. His contributions to CATL’s growth and leadership in battery technology have been instrumental in the company’s success. Despite resigning from the board, Huang continues to be a significant figure in the industry.

Lu Xiangyang

Lu Xiangyang, co-founder of BYD and head of Youngy Investment Holding Group, has a net worth of $12.7 billion. His entrepreneurial journey and strategic investments have greatly contributed to the growth of BYD and his personal wealth.

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Shahid Khan

Shahid Khan, a Pakistani-American billionaire, has a net worth of $12.3 billion. He owns Flex-N-Gate, an auto parts supplier, and the NFL’s Jacksonville Jaguars. Khan’s innovative designs and strategic acquisitions have solidified his wealth and influence in the automotive industry.

Wei Jianjun

Wei Jianjun, chairman of Great Wall Motors, has a net worth of $11.6 billion. He transformed the company from a debt-ridden entity to the largest SUV manufacturer in China. Wei’s strategic vision and leadership have been crucial to his financial success and the growth of Great Wall Motors.

FAQs about Richest People in automotive Industry

FAQs about Richest People in automotive Industry

How do these billionaires contribute to the automotive industry?

These billionaires drive innovation, invest in new technologies, and lead companies that manufacture and supply vehicles and components, significantly impacting the industry’s growth.

What role does innovation play in their wealth accumulation?

Innovation is crucial, as it enables these individuals to create unique products, improve efficiency, and stay ahead of competitors, thus boosting their companies’ profitability and their personal wealth.

How do partnerships and acquisitions influence their wealth?

Strategic partnerships and acquisitions allow these billionaires to expand their market reach, diversify their portfolios, and enhance their companies’ value, contributing significantly to their wealth.

How important are electric vehicles in their business strategies?

Electric vehicles are central to many of these billionaires’ strategies, reflecting the industry’s shift towards sustainable transportation and the growing demand for eco-friendly alternatives.

What is the impact of their wealth on the global economy?

Their wealth drives significant economic activity, including job creation, technological advancements, and contributions to national and global GDP through their extensive business operations.

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How do their companies influence the automotive market?

Their companies often set industry standards, introduce groundbreaking technologies, and influence market trends, shaping the future of the automotive industry.

What challenges do they face in maintaining their wealth?

They face challenges such as market volatility, competition, regulatory changes, and the constant need for innovation to stay relevant and maintain their wealth.

How do they diversify their investments outside the automotive industry?

Many of these billionaires invest in other sectors like technology, energy, real estate, and sports, diversifying their portfolios to mitigate risks and enhance their financial stability.

What is their approach to philanthropy and social responsibility?

These billionaires often engage in philanthropic activities, funding initiatives in education, healthcare, and environmental sustainability, reflecting their commitment to social responsibility.

How do economic and political factors affect their wealth?

Economic downturns, trade policies, and political instability can impact their companies’ performance and, consequently, their personal wealth, requiring them to adapt and strategize continuously.


The richest people in the automotive industry have significantly shaped the sector through innovation, strategic investments, and leadership. Their contributions have driven advancements in technology and sustainability, positioning the industry for continued growth and transformation. For more detailed insights, visit

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