Who Is This Person Who Surpassed Chairman Lee Kun-hee to Become Korea's Richest?

Seo Jung-jin, Chairman of Celltrion, Net Worth 15.9 Trillion KRW
Ranks as Korea's Richest
Number of Global Billionaires Increases by 660 Despite COVID-19

▲Seo Jung-jin, Chairman of Celltrion [Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Despite the global economic recession caused by COVID-19, the number of billionaires as well as their net worth have significantly increased, according to a recent survey.

On the 6th (local time), Forbes, the US business magazine, released the '2021 World's Billionaires' ranking, which counts individuals with assets over $1 billion (approximately 1.1 trillion KRW). According to the report, the total number of billionaires worldwide reached 2,755, an increase of 660 from the previous year.

Among them, 493 new billionaires were added at a rate of one every 17 hours, with 210 of these newcomers originating from China and Hong Kong.

The combined net worth of these billionaires rose from $8 trillion (approximately 8,935 trillion KRW) last year to $13.1 trillion (approximately 14,631 trillion KRW) this year.

It was found that 86% of the billionaires saw an increase in their net worth compared to the previous year.

Forbes explained, "Many new billionaires emerged due to factors such as listings through SPACs (Special Purpose Acquisition Companies), the rise in cryptocurrency prices, and COVID-19 healthcare-related sectors."

By country, the United States had the highest number with 724 billionaires, followed by China (including Hong Kong and Macau) with 698.

The world's richest person spot was held for the fourth consecutive year by Jeff Bezos, CEO of Amazon. Bezos's assets amounted to a staggering $177 billion (198 trillion KRW).

▲Jeff Bezos, CEO of Amazon [Image source=Yonhap News]

Following Bezos were Elon Musk, CEO of Tesla (approximately $151 billion, 169 trillion KRW), Bernard Arnault, Chairman of Louis Vuitton Mo?t Hennessy (LVMH) (approximately $150 billion, 167 trillion KRW), and Bill Gates, founder of Microsoft (MS) (approximately $124 billion, 138 trillion KRW), all with net worths exceeding $100 billion.

This year, the number of Korean billionaires on the list increased significantly to 44, up from 28 last year.

The title of Korea's richest person shifted from the late Lee Kun-hee, Chairman of Samsung Group, to Seo Jung-jin, Chairman of Celltrion.

With the late Chairman Lee Kun-hee removed from the list, Seo Jung-jin, who was ranked third last year, rose to become Korea's richest person.

Seo's net worth was estimated at $14.2 billion (approximately 15.9 trillion KRW), placing him 145th globally.

Following him were Kim Jung-ju, CEO of NXC, ranked 158th (approximately $13.3 billion, 14.8 trillion KRW), and Kim Beom-su, Chairman of Kakao, ranked 251st (approximately $9.3 billion, 10.4 trillion KRW).

Samsung Electronics Vice Chairman Lee Jae-yong's assets were valued at $8.3 billion (approximately 9.3 trillion KRW), ranking 4th domestically and 297th worldwide.