Nine people from Ningde Times, a Chinese electric car battery maker, are on the Forbes Rich list.

Ningde Times, a Chinese electric car battery maker, now has more billionaires than many established technology giants, according to Forbes. According to their shares in the Ningde era, a total of nine executives and early investors have a wealth of more than $1 billion, making it on the Forbes list of the world's richest people.

Shares in the Ningde era have soared more than 150 per cent over the past year as demand for electric cars has risen.

Zeng Yuqun, the company's founder and chairman, now ranks 47th on the Forbes list of the world's richest people, worth $32.5 billion, more than tripling the $9.7 billion when the epidemic hit the market in March last year. Zeng Yuqun owns about 25% of Ningde Times.

Other senior executives of the Ningde era also made huge fortunes. Co-chairman Huang Shilin and Li Ping have net worth of $14.7 billion and $6.6 billion, respectively. Pei Zhenhua, an early investor, has a net worth of $8.5 billion.

The other five billionaires are: Zhao Fenggang (($2.4 billion), Wu Kai ($2.3 billion), Wu Yingming (($1.9 billion), Chen Qiongxiang (($1.8 billion) and Chen Yuantai (($1.3 billion). With the exception of Chen Qiongxiang, who was an early investor, the other four held senior positions in the Ningde era.

The wealth of these nine people adds up to $72 billion, an amazing achievement for a 10-year-old company. By contrast, American retail giant Wal-Mart has given birth to eight billionaires, seven of whom are descended from founder Sam Walton and his brother Bud Walton.

Some family businesses, such as agricultural giant Cargill, have spawned more billionaires because of their large number of heirs, but among the listed companies, only Chinese soy sauce maker Foshan Haitian Weiwei has nine people on Forbes' billionaires list.