Who is Jay Y. Lee - Richest Person in South Korea: Biography, Personal Life And Net Worth
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Who is the Richest Person in South Korea Today?
Richest Person: Jay Y. Lee
Age: 55
Net Worth: $11.5 Billion
Rank: 173
Source of Wealth: Samsung
Residence: Seoul, South Korea
Marital Status: Divorced
Children: 2
Education: Master of Business Administration, Keio University; Bachelor of Arts/Science, Seoul National University
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| Jay Y. Lee |
Jay Y. Lee, a.k.a. Lee Jae Yong, is a billionaire from South Korea with a net worth of $11 billion. In addition to being the eldest offspring of current chairman Lee Kun-hee, Lee Jae Yong is the grandson of Samsung founder Lee Byung-chull.
Known as Samsung's Crown Prince, he is trilingual in Korean, Japanese, and English. He is among the wealthiest individuals in South Korea, and in 2024 Forbes Magazine named him the most powerful Korean. Lee Jae Yong is renowned for his quiet and icy manner and is hardly ever seen in public.
Jay Y. Lee's Early Life and Education
In June 1968, Lee Jae Yong was born in Seoul, South Korea's Yongsan District. He was a student at Kyungbock High. He graduated from Seoul National University with a Bachelor of Arts degree in East Asian history and from Keio University, a rival institution to his father's and grandfather's alma mater, Waseda University, Tokyo, with a Master of Business Administration degree. He spent roughly five years at Harvard Business School pursuing a doctorate in business administration, but he never finished. He is the cousin of Chung Yong-jin, CEO of Shinsegae Group, and Lee Jay-hyun, chairman of CJ Group.
As the de facto leader of Samsung, Lee Jae Yong is regarded as his father's heir. Known as Samsung's Crown Prince, he is trilingual in Korean, Japanese, and English. He is among the wealthiest individuals in South Korea, and in 2014, Forbes Magazine named him the most powerful Korean. Lee Jae Yong is renowned for his quiet and icy manner and is hardly ever seen in public.
Jay Y. Lee's Career
Jay Lee pursued a Doctor of Business Administration degree at Harvard Business School following his M.B.A. The younger Lee, who is the son of Samsung Chairman, has been trained to manage Korea's largest conglomerate since he was a young child. In 1991, he began working for Samsung Electronics.
Lee was the Chief Customer Officer and Vice President of Strategic Planning. He was given the title of Chief Customer Officer specifically. Since he was the only child of Samsung Chairman, it was only natural that he would succeed him as the company's future CEO; however, a tax crisis a few years ago somewhat soured the prospects.
However, when the younger Lee joined Samsung Electronics as chief operating officer in December 2009, his chances of succeeding him once more became apparent. Jay Lee was named the company's vice chairman in 2012.
Owning 11% of Samsung SDS, Lee is a significant shareholder in the financial services division of Samsung. Jay Lee was chosen in May 2015 to chair the boards of Samsung's two charitable foundations. This is considered a further move toward his eventual ascension to the throne of the generous oriental conglomerate. The Samsung Foundation of Culture, which oversees the Samsung family museum, is one of the foundations.
The other is the Samsung Life Public Welfare Foundation, which addresses a variety of issues including women's advancement and juvenile mental health. When his term as chairman comes to an end, his father, Lee the younger, would take over as chairman of the two boards.
Jay Y. Lee has held admirable positions at Samsung for a long time. His promotion to the prestigious position of Vice Chairman of the company in 2012, though, is unquestionably the most significant turning point in his career.
Jay Y. Lee's Personal Life
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| Jay Y. Lee and daughter |
The younger Lee had two children and was married to Im Se-ryung. But the pair separated back in 2009. Lee keeps a low profile and is well-known for his grounded personality. His staff holds him in high regard as a friendly, personable manager who personally responds to every email. He also continues to interact with the media in a playful manner.
Even with his heavy workload and obligations, Lee Jae-yong is a devoted father to his two kids. When it comes to her competitions, his professional equestrian daughter frequently travels with him.
Jay Y. Lee usually keeps his family out of the spotlight. Nonetheless, it is well known that he actively participates in his children's lives, carrying out the duties of both a devoted father and a corporate leader.
Jay Y. Lee's Net Worth
Among the South Korean conglomerates referred to as chaebol, Samsung is the biggest and most prosperous. Sixth of the nation's exports come from Samsung Electronics, the group's electronics division. Mr. Lee, whose real name is Jay Y. Lee, is the richest person in South Korea, according to Forbes, which pegged his net worth at roughly $11.5 B (no rise compared to last year).
South KoreaBillionaire Full List 2024
- Jay Y. Lee: $11.5 billion
- Hong Ra-hee: $5.8 billion
- Cho Jung-ho: $5.5 billion
- Kwon Hyuk-bin: $5.1 billion
- Mong-Koo Chung: $4.7 billion
- Kim Beom-su: $4.6 billion
- Lee Boo-jin: $4.0 billion
- Lee Seo-hyun: $3.6 billion
- Euisun Chung: $3.6 billion
- Seo Jung-jin: $3.6 billion
- Yoo Jung-hyun: $2.6 billion
- Kwak Dong-shin: $2.2 billion
- Koo Kwang-mo: $1.9 billion
- Chey Tae-won: $1.8 billion
- Bang Si-hyuk: $1.8 billion
- Kim Jun-ki: $1.7 billion
- Kim Jae-Young: $1.6 billion
- Suh Kyung-bae: $1.6 billion
- Lee Ho-Jin: $1.5 billion
- Lee Hae-jin: $1.4 billion
- Lee Su-jin: $1.2 billion
- Chung Yong-jin: $1.2 billion
- Kim Jung-min: $1.2 billion
- Kim Jung-youn: $1.2 billion
- Chung Mong-joon: $1.2 billion
Interesting Facts You Didn’t Know About Jay Y. LeeHis Love of HorsesIn the business world, Lee is well-known for his love of horses. He shares ownership of the Raon Horse Park, a riding club in Korea. Many people view his passion for horses as evidence of his adventurous, tough, and competitive nature. It's interesting to note that this enthusiasm even prompted him to buy his daughter, a professional rider, an expensive horse. His admiration for this magnificent animal seems to be a natural fit with his bravery and endurance-focused leadership style. PhilanthropyIn addition to being a successful businessman, Jay Y. Lee is well-known for his charitable activities. He has significantly aided in the development of child welfare, health care, and technology. His belief is in giving back to society, and he has contributed a substantial amount of money to hospitals, research institutes, and charitable organizations through the Lee family donation arm. His significant contributions have had a worldwide impact on innumerable lives. Art LoverJay Y. Lee, an art enthusiast, values art as a means of escape and relaxation. He participates in international art fairs and auctions and is the owner of multiple significant works of art. He has a formal corporate persona, but his love of art reveals a softer, more human side. He can temporarily detach, find inspiration, and reenergize himself through art, which helps him prepare for the many important decisions he must make in his career. |
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