Billionaires
Finance Tycoon Overtakes Samsung’s Lee as Richest South Korean
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Finance tycoon Cho Jung-ho has ascended to the top of South Korea’s rich list, ending Samsung Electronics Co. Executive Chairman Jay Y. Lee’s two-and-a-half-year reign.
Meritz Financial Group Chairman Cho’s net worth reached $8.9 billion at the end of Thursday’s trading, according to the Bloomberg Billionaires Index, while Samsung’s Lee dropped to the second spot with a net worth of $8.7 billion.