Samsung's chairman is no longer the richest man in South Korea.

Samsung Chairman Lee Jae-yong. Photo: Reuters .

On April 15th, Forbes released its list of the 50 richest people in South Korea for 2025. Of these, 32 members saw a decrease in wealth, including Samsung Chairman Lee Jae-yong, whose fortune fell by $3.7 billion to $7.8 billion , placing him behind the founder of MBK investment fund. Kim Byung-joo (Michael Kim) rose to the top with $9.5 billion .

The drop in stock prices is a major factor affecting the total wealth of many billionaires. In December 2024, President Yoon Suk-yeol imposed a short-term curfew, causing a political crisis in South Korea. Following this event, the total wealth of the country's 50 richest people plummeted from $115 billion to $99 billion .

Lee Jae-yong, born in 1968 in Seoul, is the son of the late Chairman Lee Kun-hee. The current leader of Samsung was once ranked 18th on Bloomberg's 2016 list of the 50 most influential people in the world. However, in recent years, his position has gradually become unstable as Samsung has lost its competitive edge in many core areas.

List of the 10 richest people in South Korea in 2025. Photo: Forbes.

According to Yonhap , in a statement in March, Lee Jae-yong acknowledged that Samsung was entering an unprecedentedly difficult period. The chairman instructed the leadership team to "fight as if there is no turning back."

According to the latest report, Samsung has been overtaken by SK Hynix in the artificial intelligence chip sector. The company's other three core business areas, including TVs, smartphones, and DRAM, all saw a decline in market share over the past year.

At the same time, Samsung's return on equity (ROE) has consistently declined during Lee Jae-yong's 10 years in power. This has led to international investors gradually withdrawing. Samsung is seen as an "inefficient giant." Korean online forums are increasingly calling for Samsung to transfer power to professional executives, instead of maintaining a hereditary leadership model.

The Samsung chairman lost his position as South Korea's richest man in 2021. Kakao founder Brian Kim overtook him. But the electronics giant leader quickly regained the title a year later.

Cho Jung-ho, chairman of Meritz Financial, is the fastest-growing billionaire on Forbes' list. His net worth increased by $1.5 billion , reaching $7.7 billion . The Meritz Financial executive now ranks third, closely trailing the Samsung chairman. This surge in wealth stems from the company's record net profit of 2.3 trillion won in 2024, achieved through the merger of its insurance and securities units.

Source: https://znews.vn/chu-tich-samsung-khong-con-giau-nhat-han-quoc-post1546750.html