Rankings Upset
MBK Partners Chairman Kim Byung-joo has overtaken Samsung Electronics Chairman Lee Jae-yong to become South Korea’s richest man.
Forbes reported on April 17 (local time) that private equity asset manager Michael Kim (Korean name: Kim Byung-joo) earned the highest income this year with a net worth of US$9.7 billion while managing US$26 billion in assets.
Samsung Electronics Chairman Lee Jae-yong slipped to second place, with his assets falling from US$9.2 billion last year to US$8 billion this year due to a drop in demand for semiconductors and smartphones.
Celltrion’s Honorary Chairman Seo Jung-jin was the third wealthiest person on the list, down from US$6.9 billion in 2022 to US$5.7 billion this year. Seo returned to his company management in March after a two-year hiatus from management.
In addition, Kakao Chairman Kim Beom-soo, who topped the list last year, dropped to fifth place with US$5 billion this year, and Song Chi-hyung, who runs cryptocurrency exchange Dunamu, dropped from ninth place in 2022 to 41st place this year with US$950 million.