Samsung’s Lee ranked 97th in Bloomberg rich list

Samsung Electronics chairman Lee Kun-hee was ranked 97th on Bloomberg’s list of the world’s 200 richest people.

The business news agency estimated his wealth at $11.5 billion as of Wednesday. His wealth was the largest of any Korean.

He placed 85th late last year, then dropped to 115th in August this year as a result of a fall in the value of Samsung Electronics shares.

According to Bloomberg, the majority of his fortune is derived from his stake in Samsung Electronics, the flagship of Korea’s largest family-owned conglomerate. He controls a 3.4 percent stake in the company’s common stocks, as well as 0.1 percent of its preferred stocks. He also owns 20.8 percent of Samsung Life Insurance and 1.4 percent of Samsung C&T.

Lee probably has at least 425 million in cash and other investable assets. The billionaire owns a house in the Itaewon district of Seoul, valued at about $10 million, according to city land records.

Hyundai Motor Group chairman Chung Mong-koo was 188th richest in the world with $7.1 billion. He is the second richest in Korea.

His wealth stems from his stakes in five publicly traded Hyundai companies: Hyundai Motor, Hyundai Mobis, Hyundai Glovis, Hyundai Steel and Hyundai Hysco.

He probably has at least $325 million in cash and other investable assets. The world’s richest person was Microsoft chairman Bill Gates with $75.6 billion in net worth.

By Chun Sung-woo (swchun@heraldcorp.com)