Global Richest 100
Samsung Electronics Chairman Lee Kun-hee and Hyundai Motor Group Chairman Chung Mong-koo slid down in the world’s richest people ranking due to the recent decline of the stock prices of their companies. Meanwhile, Chinese IT industry leaders such as Alibaba Chairman Jack Ma have distinguished themselves on the list this year.
The Samsung Electronics chairman ranked 109th as of Oct. 7 in the Bloomberg Billionaires Index with a fortune of US$10.6 billion, although he used to be at 93rd place between May 13 and 19. He has been out of the top 100 since mid-June with the stock price of the electronics manufacturer falling at a fast pace since August.
Chairman Chung Mong-koo had risen to 173rd on Aug. 1 and remained between 180th and 190th, but was pushed out of the top 200 after his company’s purchase of the Korea Electric Power Corporation (KEPCO) building on Sept. 18. The 10.55 trillion won (US$9.8 billion) worth transaction has resulted in a significant drop in Hyundai Motor Company’s stock price.
In contrast, Jack Ma’s ranking soared from 90th to 24th after the listing of Alibaba, the largest e-commerce company in China, on the New York Stock Exchange last month. His fortune is estimated to be approximately US$25.5 billion, and is second in Asia only to that of Cheung Kong Group Chairman Li Ka-shing, who took the 17th spot.
Baidu Chairman Robin Li also rose from 70-odd to 53rd between June and this month. The stock price of the company has increased rapidly since July and the worth of his property has swollen to US$15.7 billion. Tencent Chairman Ma Huateng, who is worth US$15.2 billion, jumped from 80th to 58th, too.
The list was topped by Microsoft founder Bill Gates, as it has been earlier this year. He is estimated to currently have US$83.5 billion.