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South Korea's richest woman gets fortune worth $7 billion after transfer of Samsung shares

Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent.

May 04, 2021 / 12:57 PM IST
Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent.

Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent.


South Korea’s richest woman Hong Ra-hee has added another $7 billion worth of assets to her wealth. She received the amount in stocks after the transfer of her late husband and Samsung Group’s ex-Chairman Lee Kun-hee’s assets.

Ra-hee received 83 million shares in Samsung Electronics in inheritance. It makes her the largest shareholder in the group with a total share of 2.3 percent. A Bloomberg report further states that Ra-hee’s total net worth is USD 7.4 billion after the transfer. She received the biggest slice of Lee’s stake in Samsung Electronics. The shares were divided in a 3:2:2:2 ratio between her and her three children. Hong got roughly 33 percent of the shareholdings, while her children each received about 22 percent.

Kun-hee’s son Jay Y. is worth $12.6 billion. He took control over the group after his holdings rose significantly in key affiliates. Kun-hee’s two daughters, Boo-jin and Seo-hyun, have a net worth of $5 billion and $4.4 billion, respectively.

“It’s a win-win situation for the family members. It has ensured more stable control for Jay Y. Lee, while other family members get more of a voice with their increased stakes,” Park Ju-gun, head of Seoul-based research firm Leaders Index said.

Jay Y is currently serving jail time after being convicted in a bribery case. He was able to cement his position after receiving half of his father’s shares in Samsung Life Insurance, which owns about 8.5 percent of Samsung Electronics.

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The family has announced that it would pay one of the largest inheritance taxes, which is more than 12 trillion WON. It will also donate 1 trillion WON for medical facilities.
Moneycontrol News
TAGS: #Samsung
first published: May 4, 2021 12:57 pm

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