How batteries of Apple AirPods created a billionaire

NEW DELHI: The AirPods have been nothing short of runaway success and have made Apple billions of dollars. So much so that in 2019 Apple garnered 71% of the total revenue generated from all the truly wireless headphones in the market. Every other brand is playing for seconds and Apple consolidated its position with the AirPods Pro. It seems apart from Apple, the AirPods also changed the fortune of an Austrian company and made its owner a billionaire. The person in question is Michael Tojner whose company Varta makes batteries that are inside the AirPods.
The tiny batteries of Apple AirPods made Austrian investor Michael Tojner a billionaire. Tojner bought Varta in 2007 for $40 million and its contract with Apple helped the company to gain 50% market share for premium wireless headphone batteries, as reported by Forbes. Not only this, after its contract with Apple the company also signed contracts with brands like Samsung, Jabra and others.