30 out of 2,365 global multibillionaires are S. Korean businessmen

Even amid the COVID-19 pandemic with many lives claimed and the global economy damaged, those famously wealthy have turned out to grow their fortune at a faster pace than before.

The total asset of the world's top 2,365 riches spiked by 54 percent from 8.04 trillion dollars to 12.39 trillion dollars over the past year, according to data released on Wednesday by U.S. think tank Institute for Policy Studies (IPS). Based on statistics published by Forbes and Bloomberg, the IPS issued a report to compare how assets of those with a net asset of more than one billion dollars changed from March 18 last year for a period of one year.

Amazon CEO Jeff Bezos ranked first with a total asset of 178.1 billion dollars, a 58 percent increase year-on-year, followed by French fashion brand group LVMH's Bernard Arnault, who saw a 114 percent rise of his fortune to 162.6 billion dollars, and Tesla CEO Elon Musk, who claimed third place with 162.1 billion dollars in his pocket. As Tesla has skyrocketed in the stock market amid the COVID-19 pandemic, Musk has enjoyed a more than six-fold spike in his fortune over one year or so. Microsoft founder Bill Gates (126.5 billion dollars, a 29 percent increase), Facebook CEO Mark Zuckerberg (101.7 billion dollars, an 86 percent spike) and Berkshire Hathaway Chairman Warren Buffett (96.5 billion dollars, a 43 percent rise) follow the top three on the list.

Thirty-plus South Korean business leaders are included on the list of the 2,365 richest people in the world. NXC Kim CEO Jung-ju ranked highest among the South Korean riches on the list – sitting in 144th place with a total asset of 14.1 billion dollars. The rest are as follows - Celltrion Chairman Suh Jung-jin (13.8 billion dollars), Kakao Chairman Kim Beom-su (9.7 billion dollars) and Samsung Vice Chairman Lee Jae-yong (8.4 billion dollars).

As many as 13 multibillionaires have newly joined the list of those who have seen a more than five-fold spike in their asset over the last one year – including Coupang Chairman Kim Bum-seok (670%) who led his company to debut in the New York Stock Exchange.

The IPS’ report analyzes that as the pandemic has held back many other competitors in the market, many of those on the list saw a great benefit, instead. With the rich getting richer, things have got harder on women, younger generations and poor people to drive them in deeper inequalities in the global economy with a negative growth, according to the report.


jyr0101@donga.com