Lee Kun Hee Net Worth

Lee Kun Hee Net Worth

Real Name: Lee Kun Hee
Date of Birth: 01/09/1942
Place of Birth: Daegu, South Korea

2017 Net Worth: $12.5 Billion
2016 Earnings:

Profession: Chairman of Samsung Group

Lee Kun Hee Biography


Lee Kun Hee was born in South Korea in 1942.  He attended Waseda University, where he received a degree in economics; he then attended George Washington University, where he received an MBA.

Lee joined the Samsung Group in 1968. In 1987, two weeks after the death of his father, who founded Samsung, Lee took over as chairman. He believed that Samsung Group was wrongly focused on producing massive quantities of low priced, low quality goods. Lee wanted to change that and get into quality merchandise. He is famous for saying “Change everything except your wife and children.”  Lee attempted to completely reform the Korean way of doing business. He brought in foreign employees and local employees were changed to factories in other countries as he tried to encourage a more international attitude in his business.

Under the guidance of Lee, Samsung has been transformed from a Korean budget brand to a major international force. One of his subsidiaries, Samsung Electronics, is undeniably one of the world’s leading developers and producers of semiconductors. Lee has turned the revenues of the family business into more than 39 times their worth compared to 1987.

Samsung subsidiaries include Samsung Electronics, Samsung Heavy Industries ( the largest ship builders as of 2010), Samsung Engineering, and Samsung C&T, Samsung Techwin, Samsung Life Insurance, Samsung Everland ( the oldest theme park in South Korea), and Cheil Worldwide (the world’s 19th largest advertising agency) .

Samsung produces about 1/5 of all South Korean exports. If Samsung were a country, it would have the world’s 35th largest economy.

Lee temporarily retired as chairman in 2008 after a bribery charge. He was pardoned by the government in 2009 and returned as chairman of Samsung Electronics in Marcy of 2010.

Lee has a current net worth of $12.5 billion and is so well diversified, that his earnings and net income are guaranteed to increase in future years.

{ 0 comments… add one now }

Leave a Comment

Previous post:

Next post: