Lee Jay-yong South Korea's 2nd richest man after his father

By Park Sae-jin Posted : December 2, 2014, 17:07 Updated : December 2, 2014, 17:07

 

Lee Jay-yong, vice chairman of Samsung Electronics and heir apparent to its parent Samsung Group, moved up 28 notches to 224th place in the list of the world's 400 richest people released by Bloomberg, a U.S. media firm, Tuesday. His assets were estimated at US$6.2 billion as of Nov. 27.

Lee became the second richest man in South Korea after his father Lee Kun-hee, chairman of Samsung Electronics and de facto head of the group, the country's largest conglomerate. The senior Lee was ranked 92nd in the Bloomberg billionaires list with assets worth $13.5 billion.

The junior Lee's ranking soared as Samsung SDS Co. made a splash in its debut on the South Korean bourse in mid-November. He holds an 11.25 percent stake in Samsung SDS, an information and communication technology service provider affiliated with the conglomerate.

In September, the junior Lee ranked around 360th with assets worth $4.3-4.4 billion, becoming South Korea's fifth richest man.

Bloomberg put Suh Kyung-bae, chairman of Amore Pacific Group, a cosmetic and beauty product maker, in 229th place for his assets worth $6.1 billion, and Chung Mong-koo, chairman of Hyundai Motor Group, in 245th place for $5.8 billion.

Microsoft co-founder Bill Gates retained his top spot, with assets worth $87.8 billion. Mexico's Carlos Slim, chairman and chief executive of telecommunications companies Telmex and American Movil, and Warren Buffett, chairman of Berkshire Hathaway Inc., remained at Nos. 2 and 3 with assets worth $79.8 billion and $72.7 billion, respectively.
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