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Samsung boss remains the richest stockholder in South Korea

Business
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Last updated: October 5th, 2021 at 12:20 UTC+01:00

It’s quite lucrative to be running one of the top conglomerates in the world. As you’d probably expect, Samsung boss Lee Jae-yong has a significant net worth. Most of it is linked to his Samsung holdings.

He remains the richest individual stockholder in South Korea. Lee Jae-yong’s stockholdings are the largest among South Korean conglomerate owners. That’s impressive, considering that the country has quite a few highly successful conglomerates.

Nobody can match the value of Lee Jae-yong’s shareholdings

Lee Jae-yong also happens to be the richest person in South Korea. He inherited the title from his father Lee Kun-hee who passed away last year.

Lee Jae-yong’s net worth increased substantially after he inherited his father’s shares in the many companies under the Samsung Group. The shares that he inherited in companies like Samsung Electronics and Samsung SDS were worth more than $5 billion at that time.

Even though the value of his total shareholders has declined a bit, the Samsung boss remains South Korea’s richest individual stockholder. His shareholdings were valued at $11.9 billion at the end of September 2021. The value of his holdings is down approximately $1 billion from three months earlier but that still wasn’t enough to knock him off the top.

Lee Jae-yong’s net worth would have been even higher if South Korea didn’t impose a large inheritance tax. The Lee family will pay the largest-ever inheritance tax of $10.8 billion to the government in order to inherit Lee Kun-hee’s estate.

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