Who is Lee Jae-yong, South Korea’s most powerful billionaire seeking to topple Apple
Inherit leading multinational technology company It’s not always a rosy dream. This often causes more than one headache and even serious legal problems.
Something similar happened to Lee Jae-youngwhich, despite the contradictions, remains central figure at Samsung. His ability to navigate the complexities of corporate leadership and legal issues will be critical to the company’s future.
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Who is Lee Jae-yong, President of Samsung Electronics
Lee Jae Young known as Jay Y. Lee, is an influential South Korean businessman and current CEO of Samsung. He is the eldest son of Lee Gun-hee, who was Samsung’s president from 1987 to 2008 and again from 2010 to 2020, and is widely considered his father’s heir apparent. South Korean media nicknamed him “Crown Prince of Samsung“.
Lee received a BA in East Asian History from Seoul National University and an MBA from Keio University. He also attended Harvard Business School for about five years to obtain a doctorate in business administration, although he did not complete the degree.
His career at Samsung began in 1991, where he held positions including vice president of strategic planning and chief customer officer, a position created specifically for him. His leadership prospects at the company suffered greatly when his father resigned due to a tax evasion scandal. However, in December 2009, his position was strengthened when he was appointed chief operating officer of Samsung Electronics. Since December 2012 He served as vice president of Samsung Electronics. and owns a significant stake in Samsung Safety Data Sheeta financial services subsidiary of a conglomerate.
Following the passing of his father on October 25, 2020, Lee is expected to officially take office Group President and Samsung Electronics.
Lee, who rarely appears in public, has three younger sisters: Lee Bu Jin, Lee So Hyun And Lee Yoon Hyun. With his ex-wife Im Seeryong, from whom she divorced in 2009, she has a son and a daughter. His hobbies are golf and horse riding. He is known for his calm and polite demeanor, as well as his willingness to personally answer emails and maintain friendly relations with journalists.
February 17, 2017 was arrested in Seoul is under suspicion of corruption, involved in a scandal that led to the removal of the president Park Geun-hye. Lee was formally arrested on February 16 on charges of bribing Park and her confidant nearly £30 million. Choi Soon Sil secure government support for a change in leadership at Samsung. On August 25, he was sentenced to five years in prison. However, on February 5, 2018, he was released.
September 1, 2020 was charged with violating capital market laws for unfair trading, stock manipulation and breach of trust related to the 2015 merger of two Samsung subsidiaries and alleged accounting fraud at Samsung Biologics. On January 18, 2021, he was sentenced by a higher court to two and a half years in prison and transferred to a detention center in Seoul.
Lee Jae Young’s net worth in 2024
State Lee Jae-young valued $111.5 million which ranks him as the 173rd top millionaire according to Forbes and makes him the third richest person in South Korea.