40 Koreans on Forbes billionaire list

The richest Koreans / Screengrab of Forbes

By Jung Min-ho

Forty Koreans are on the 2019 Forbes billionaires list.

Samsung Group Chairman Lee Kun-hee remains the richest Korean with a net worth of $16.9 billion. He is ranked 65th globally.

Celltrion Chairman Seo Jung-jin is second with $8.1 billion. With expectations for biosimilars high, his pharmaceutical company has become a favorite among investors, Forbes says.

Samsung Electronics Vice Chairman Lee Jae-yong comes in third with $6.9 billion, followed by Nexon CEO Kim Jung-ju ($6.5 billion) and Hyundai Motor Group Chairman Chung Mong-koo ($4.3 billion).

Meanwhile, Amazon founder Jeff Bezos remains the world's richest person. His wealth rose $19 billion during 2018 to total $131 billion this year.

Microsoft co-founder Bill Gates is second with a net worth that rose to $96.5 billion this year from $90 billion last year, followed by investor Warren Buffett ($82.5 billion).

Notably, reality TV star Kylie Jenner, 21, makes the list as the youngest "self-made" billionaire in history. Forbes estimates her company, Kylie Cosmetics, is now worth $900 million.

"Capitalism is taking some lumps ― and not just in the headlines," Forbes says. "For only the second year in a decade, both the number of billionaires and their total wealth shrank, proving that even the wealthiest are not immune to economic forces and weak stock markets.

"By our latest count there are 2,153 billionaires, 55 fewer than a year ago. Of those, a record 994, or 46 percent, are poorer (relatively speaking) than they were last year. In total, the ultra-rich are worth $8.7 trillion, down $400 billion from 2018. Altogether, 11 percent of last year's list members, or 247 people, dropped out of the ranks, the most since 2009 at the height of the global financial crisis."

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