Samsung heir ranks the world’s 252nd richest man

The listing of Samsung SDS, the technology services arm of South Korea’s largest group, has put Samsung Electronics Vice Chairman Lee Jae-yong on the list of the world’s 300 richest men.

According to the world’s top 400 billionaires released by Bloomberg on Tuesday, Lee was ranked 252nd with 5.6 billion dollars as of Monday.

His sharp rise in the ranking is the result of the value increase of his equity holdings after the listing of Samsung SDS last Friday. He owns an 11.25-percent stake in Samsung SDS. In Korea, he is the fourth richest man.

Korea’s wealthiest man is Samsung Electronics Chairman Lee Kun-hee (94th) with 12.1 billion dollars. Chairman Lee is followed by Amore Pacific Chairman Seo Kyung-bae (5.9 billion dollars) and Hyundai Motor Group Chairman Chung Mong-koo (5.8 billion dollars). The fall of the stock value of Hyundai Motor Company pushed Hyundai Motor Group Vice Chairman Chung Eui-sun beyond the world’s 400 richest men’s club.

Bill Gates, co-founder of Microsoft, has remained the richest man in the world with 87.2 billion dollars, followed by Mexico`s telecom tycoon Carlos Slim (76.4 billion dollars) and Berkshire Hathaway CEO Warren Buffett (71.2 billion dollars).