[NEWS] Samsung boss is once again the richest stock billionaire in South Korea

[phillynews215]

Jay Y. Lee, the executive chairman of Samsung Electronics, leads one of the biggest conglomerates in South Korea. One would expect that this unique position would come with a considerable net worth, and it does indeed, with Lee topping the list of the richest billionaire stockholders in South Korea once again.

The top spot has remained in Samsung's founding Lee family for over a decade now. His father and former chairman Lee Kun-hee held the spot before his demise whereupon it transitioned to Jay Y. Lee.

Decline in Samsung stock price has reduced his net worth

The Samsung boss is currently the richest individual stockholder in South Korea. It's an impressive position to be in, considering that the country is home to many other highly successful conglomerates, even as the number of business people who have become billionaires by founding businesses has more than doubled over the past decade.

The Lee family has several spots on the list. In addition to Jay Y. Lee, it includes chairman Lee Kun-hee's widow Hong Ra-hee, her children, and Jay Y. Lee's sisters Lee Boo-jin and Lee Seo-hyun. They have diverse business interests ranging from hotels to construction. Jay Y. Lee remains at the top with a 12.912 trillion or $8.7 billion won net worth.

Since much of their wealth is tied to their stake in the companies they operate, the net worth can change significantly based on the value of the shares. Samsung Electronics' stock hitting a 4-year low recently has dented Lee's net worth.

The Samsung boss actually became South Korea's richest person earlier this year on the back of a stock price surge that led to a $3.5 billion net worth increase, taking him to $11.5 billion.

The post Samsung boss is once again the richest stock billionaire in South Korea appeared first on SamMobile.



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