How much do the superrich earn each year from their business achievements?Whenever salary statements of business heads are revealed, the company’s annual performance and achievements are evaluated as well. This is to determine whether the business head deserves the salary that he or she received. For this reason, the annual salary of a business head is often referred to as “compensation.”The Superrich Team looked into the annual salaries of both Korean and U.S. superrich by collecting data from

Star of rags-to-riches story collects celebrity belongings, companies and dreams

Meeting the president is a pivotal moment for the superrich anywhere in the world. A look at various such meetings shows different moods and mannerisms of the superrich and presidents.In South Korea, meetings between the superrich and the president are considered a political and business assembly accompanying a meal.The president also invites the superrich based on their ranking ― such as the “top 20 businesses” ― rather than their field of business. Former President Kim Young-sam holds a dinner

Showbox Mediaplex, the film-making arm of Orion Group, the nation’s second-biggest snack-maker, made headlines on March 25 when the company announced its expansion to China by signing an exclusive partnership with China’s leading entertainment giant Huayi Brothers.The news once again brought the limelight to the business group’s chairman Tam Chul-kon as the Chinese-Korean is apparently hoping to recreate his “rags-to-riches legend” once again and take the faltering conglomerate back to its glory

Becoming the second-biggest stockholder in Korea, AmorePacific chairman aims high with his globalization drive

Hyundai Department Store is fast moving to expand its presence and diversify its portfolio, signing two real estate deals in succession.As the company eyes the tightly contested market, Hyundai Department Store Group chairman Chung Ji-sun is also increasing his public presence. While Chung is a member of the famous Chung Ju-yung family, he has for the large part kept a low profile.While a department store opening new branches is nothing new, Hyundai Department Store has taken on the unusual stra

Samsung Electronics vice chairman Lee Jay-yong and Daum Kakao chairman Kim Beom-su are two notable Korean billionaires with striking similarities.Both operate world-class companies, hold considerable wealth and status, and suggest that they are keen to rapidly expand their businesses by transcending borders. Lee Jay-yong and Kim Beom-suLee Jay-yongForbes selected Samsung Electronics vice chairman Lee Jay-yong as the most influential person in Korea in 2014. Bloomberg estimates his total assets a

Following 8.1 trillion won merger spree, Lotte heir-apparent seeks father’s nod for succession

Chinese superrich have been on the rise since Jack Ma’s Alibaba Group raised a record $21.8 billion in its initial public offering last September and set the world abuzz.From technology to real estate, the newly emerging Chinese superrich have been eyeing the Korean market, looking for ways to expand their businesses.Ma Huateng, founder of Internet service company Tencent, recently joined forces with Hana Financial Group with the aim of introducing the mobile payment system Tenpay in Korea. Tenp

Scientific development, especially in medicine and technology, has had a considerable effect in raising living standards by saving lives and improving the quality of life.The vast majority of scientific developments are led by the government ― the main reason being the astronomical costs that can only be properly funded by the state. Even in the U.S., personal and private funding for scientific research barely reaches 10 percent of total funds.Experts emphasize that donations from superrich indi

In a capitalist society, time is money, and its financial worth varies from person to person. In terms of financial gain, a minute spent by a child cannot be worth the same amount as that spent by a globally successful businessman.Time runs differently for the superrich compared to ordinary people. According to China’s Hurun Report, the three richest men in the world ― Bill Gates, Warren Buffett and Carlos Slim ― earned a total of $52 billion in 2014, meaning that they earned an average of $100,

Doosan Group heir Park Seo-won has once again gone off the beaten track, selling fruit reductions in order to help farmers struggling with blemished products. Park, who now serves as the chief creative officer of the country’s oldest advertising agency, Oricom, said Monday that the company had released a series of jams named Ireonjjaembyeong (Such a Jar of Jam). “Just because they (the fruits) have fallen a bit earlier than their peers or have been scratched by branches, they should not be regar

Many famous foreign celebrities regularly donate their riches to charity. American website TheRichest selected several who are noted for their contributions.Michael J. FoxThe first celebrity on the list was Michael J. Fox of “Back to the Future” fame. Fox, who retired from acting in 2000, was diagnosed with Parkinson’s disease in 1991 but chose to keep it a secret for seven years. He has since set up The Michael J. Fox Foundation, today the largest nonprofit funder of Parkinson’s drug developmen

Restaurant franchise management is the rage among second- to fourth-generation chaebol scions. These superrich ― who have either studied abroad or go on frequent business trips ― are bringing over famous foreign restaurant brands that they patronize overseas, or taking inspiration to build and bring in restaurants that suit their culinary taste. With these business endeavors, they have set off new trends in the Korean restaurant scene.Conglomerates’ recent foray into the restaurant business is a