CEO’s of Samsung and Hyundai Fall Off World Richest Rankings
kpopluv, Oct. 10, 2014, 9:29 a.m.
Samsung chairman Lee Kun-hee and Hyundai Motor chief Chung Mong-koo, the two richest people in Korea, have dropped off the list of the world's 100 and 200 wealthiest people. On Bloomberg's list of the world's 200 richest people released on Thursday, Lee ranks 110th with an estimated fortune of US$10.4 billion. In May he still ranked 93rd, but he slid down the rankings in the wake of Samsung's poor performance and a subsequent drop in the stock price.
Chung once came in at 173rd in August but dropped out of the top 200 after Hyundai Motor's stock price plummeted in the wake of its purchase of a plot for its new headquarters at a staggering W10.55 trillion (US$1=W1,075) on Sept. 18. By contrast, the owners of major Chinese dotcoms have shot up in the rankings. Alibaba boss Jack Ma jumped to 24th with $25.6 billion as his assets ballooned after the suppliers' directory was listed on the New York Stock Exchange last month.
Robin Li, the chairman of China's biggest search engine Baidu, ranked among the world's 70 or 80 richest people until June, but he now sits at 52nd with an estimated fortune of $15.8 billion thanks to an increase in the stock price. And Ma Huateng of social networking provider Tencent rose to 58th with $15 billion. Microsoft founder Bill Gates remains the world's richest man with $84.4 billion.