Samsung Chairman, Lee Jae Young
Lee Jae-Yong is the son of Korea’s richest man, Lee Kun-Hee. He was born on June 23rd, 1968, in Washington D.C. He studied at Seoul National University, majoring in Eastern Asian history, before completing his MBA at Tokyo’s Keoi University and joining Samsung Electronics in 1991. Samsung is the largest memory-chip maker in South Korea. He’s known as “Samsung’s Crown Prince” by the media, and is expected to succeed his father as the Samsung’s chairman.
After his M.B.A., Jay Lee began pursuing a doctorate of Business Administration at Harvard Business School, but did not graduate as he was called back to Seoul amid his studies. He started his career at Samsung Electronics in 1991, being groomed by his family for his eventual role as Chairman.
His father was hospitalized after having a heart attack in May, 2014. Samsung’s heir apparent is Lee’s only son, Lee Jae Yong. Although he has a more low-key style than his father, he may still be the right heir to the throne. Lee Jae Young is very approachable. He speaks three languages, and built a relationship with Apple founder Steve Jobs that helped allow Samsung to supply components for Apple devices.
His Personal Life
When he was younger, Lee was married to Im Se-ryung, and they have two children, but the couple separated in 2009. Lee is known for his rational aura and keeps up a very low profile. His representatives respect him as a receptive and extremely obliging supervisor who always answers every one of the messages. He also maintains a light-hearted personality with media.
His Career Journey
Lee served as the Vice President of Strategic Planning and became the Chief Customer Officer. The designation of Chief Customer Officer was created when he joined the company, so it was created especially for him. Being the only son of the Samsung Chairman, his succession as the future leader of the company was assumed, but the occurrence of a tax crisis mid-way kind of dimmed the possibilities.
Even so, in December of 2009, the youthful Lee’s prospects for promotion were on the rise again when he was made the Chief Operating Officer for Samsung Electronics. In 2012, Jay Lee was named Vice Chairman of the company.
In May, 2015, Jay Lee was chosen as the director of the sheets of 2 altruistic establishments of Samsung. This is regarded as another step towards his progression as the pioneer of the charitable oriental combination. One of the establishments is the Samsung Foundation of Culture, which cares for the gallery of the Samsung family. The other one is the Samsung Life Public Welfare Foundation, which handles diverse causes, including adolescent psychological wellness and Women’s Advancement. The more youthful Lee would supplant his father who might venture down from the two sheets as his tenure as the executive finishes up.
Jay Y. Lee has held a number of honorable positions in Samsung, but the most important feature of his career is definitely his elevation to the position of Vice Chairman in 2012, since his father’s health has suffered following a heart attack in May, 2014.
The other reason his father stepped down as chairman of Samsung was because he was convicted of tax evasion and breach of trust in 2008, and was indicted for causing losses at Samsung designed to help transfer control of group units to his son.
Lee Jae Yong’s Net Worth
Lee directed the unit’s ascent into the world’s greatest creator of cell phones, amassing a one-quarter stake in firmly held Chiel Industries. Samsung C&T and Cheil Industries have merged since September, 2015. The all-stock merger makes Lee the greatest investor with an approximate 16.5 percent stake.
The larger part of Lee’s fortune is gained from a 17.2 percent stake in the publicly traded Samsung C&T, the element that was created after the merger of Cheil Industries, the accepted holding company of the Samsung group, and its development and exchanging arm. Lee holds the offers specifically, as indicated by the organization’s 2018 first-quarter report.
Lee likewise claims 9.2 percent of Samsung SDS, a publicly traded data innovation administrations supplier, 1.5 percent of Samsung Engineering, and under 1 percent of Samsung Electronics, Samsung Fire and Marine Insurance, and Samsung Life, as per the companies’ 2018 first-quarter reports.
The estimation of his financial speculations depends on an analysis of profits, insider exchanges, showcase execution, and duties. A spokesman of Samsung, Kevin Cho, declined to comment on Lee’s net worth.
But recently Lee Kun-Hee has been facing facing a legal battle filed by his siblings, who claimed that they own a large part of Samsung’s assets, amounting to around $1 billion USD, through inheritance from their father. He was indicted in August, 2017, and condemned to five years in prison for wrongdoings including bribery and embezzlement. Lee was blamed for giving influence bribes to previous the South Korean President, Park Geun-hye. An interests court enabled him to walk free from jail in February, 2018, when it suspended and decreased his sentence, Lee walked free after that.
Here his net worth over the years.
By looking at his net worth over the years, we can’t deny why he was identified as the 33rd most influence person on the planet in 2015 by Forbes. He was the second-wealthiest individual in Korea (now he’s 3rd), and in addition remains at #185 in the rundown of top billionaires in the world.