South Korea’s top 5 billionaires grow $20.1B richer as Samsung chairman’s fortune nearly triples

1. Lee Jae-yong

Lee, the 57-year-old executive chairman of Samsung Electronics, has regained his position as South Korea’s richest man after losing the top spot on last year’s rankings.

Samsung, one of the country’s large family-controlled conglomerates known as “chaebols,” was founded in 1938 by Lee’s grandfather Lee Byung-chul and previously led by Lee’s late father Lee Kun-hee.

Lee’s net worth surged from $7.8 billion last year to a record $21.6 billion as of March 27, 2026, making him the biggest gainer in dollar terms this year, according to Forbes.

The sharp rise was driven in part by a rebound in Samsung’s memory chip division, which has benefited from a global semiconductor shortage. The company also secured a $16.5 billion multiyear deal with Tesla last July to produce AI chips.

Samsung posted a net profit of 45 trillion won (US$30 billion) for 2025, up 31% year-on-year, on revenues of 334 trillion.

2. Michael Kim

Michael Kim, co-founder of MBK Partners. Photo from the company’s website

Michael Byung-ju Kim, 62, held the top spot last year but fell to second despite his fortune increasing from $9.5 billion to $9.9 billion.

He is a co-founder of MBK Partners, a Seoul-based private equity firm named after his initials that manages more than $30 billion in assets, according to its website.

A graduate of Harvard and a former Fulbright Scholar, he built his career at firms including Carlyle, Salomon Smith Barney and Goldman Sachs before launching MBK with several partners.

The firm raised $5.5 billion for an Asia-focused buyout fund last October.

3. Seo Jung-jin

Seo Jung-jin, chairman of Celltrion. Photo from EY’s website

Seo Jung-jin, 68, co-founded Celltrion, a biopharmaceutical firm that develops treatments for diseases such as cancer, influenza and rheumatoid arthritis.

Seo started the company in 2002 after his former employer, Daewoo Motor, went bankrupt. He reportedly pledged his organs as collateral to borrow from loan sharks to fund the Celltrion in its early days, according to Bloomberg.

In 2021, he became the first self-made billionaire to top South Korea’s rich list, which had long been dominated by chaebol heirs. He stepped down as chairman that same year but returned to the role two years later.

Celltrion shares rose 30% over the past year as it pushed ahead with expansion plans, lifting Seo’s net worth from $6.3 billion to $8.1 billion and his ranking by one spot.

4. Cho Jung-ho

Cho Jung-ho, chairman of Meritz Financial Group. Photo courtesy of the company

Cho Jung-ho, 67, serves as chairman of Meritz Financial Group, a Seoul-based provider of insurance and asset management services.

He holds a 56% stake in the firm, previously named Hanjin Investment & Securities, directly and with his daughter Cho Hyo-Jae, according to a company filing last November.

He is the youngest son of the late Cho Choong-hoon, who founded Hanjin Group, the parent firm of Korean Air and one of the chaebols.

Though his wealth increased from $7.7 billion to $8 billion, Cho slipped one place in the rankings compared to a year ago.

5. Lee Boo-jin

Lee Boo-Jin, President and chief executive of Hotel Shilla, attends an opening ceremony of Shilla IPark Duty Free shop in Seoul, South Korea, March 25, 2016. Photo by Reuters

As daughter of the late Samsung chairman Lee Kun-hee, Lee Boo-jin, 55, is another heir to the tech giant’s fortune.

Like the other Samsung heir on the list, her wealth more than doubled, rising from $3.1 billion to $7.9 billion and propelling her into the top five.

Dubbed “Little Lee Kun-hee” in local media for her sharp business sense, she serves as president and chief executive officer of Hotel Shilla, which operates luxury hotels and duty-free shops.

Earlier this month, the Lee family paid off the remaining portion of their $8 billion inheritance tax bill, one of the largest such payments recorded in South Korea, Yonhap News Agency reported.

They were also recently named by Bloomberg as the third-richest family in Asia.