Samsung’s Lee KH joins top 100 richest men’s club

November 6, 2013
Samsung Electronics Chairman Lee Kun-hee, center, and his wife Hong Ra-hee enter the Shilla Hotel to attend a dinner marking the 20th anniversary of the announcement of “New Management” in Frankfurt in 1993, Monday. / Yonhap

Samsung Electronics Chairman Lee Kun-hee, center, and his wife Hong Ra-hee enter the Shilla Hotel to attend a dinner marking the 20th anniversary of the announcement of “New Management” in Frankfurt in 1993, Monday.
(Yonhap)

Samsung Group Chairman Lee Kun-hee has joined the ranks of the world’s richest people, the only Korean to be listed among the top 100.

According to a report by Bloomberg, the fortune of the head of Korea’s largest business conglomerate reached $11.7 billion (12.4 trillion won), returning him to the richest 100 people’s club.

Bloomberg said Lee is the only Korean billionaire to be among the top 100 at 97th in ranking.

Lee climbed to as high as 85 last year as shares of Samsung affiliates rose in the early part of last year but fell out of the top 100 in August with a sudden drop in stock prices.

With the rapid recovery of the share prices of companies like Samsung Electronics, Lee was able to return to the 100 billionaires’ club, the report said.

Aside from Lee, Hyundai Motor Group Chairman Chung Mong-koo was in 189th place with assets estimated at 7.4 trillion won ($6.7 billion), Bloomberg said in its periodic report.

The list of the richest people in the world changes frequently with an increasing number Chinese joining the ranks of the super rich.

One Comment

  1. Dr. Pankaj Kumar Agarwal

    November 18, 2013 at 6:10 PM

    Samsung has earned money by cheating customers by manufacturing sub standard and inferior quality products. Shame on Samsung and its policies. Instead samsung should start begging, which may even give them more money. Mr. Lee Kun Hee should lead the begging business as it is very profitable. Please stop cheating customers.

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