Bloomberg: Samsung family becomes Asia’s 3rd richest as wealth doubles in a year

The Samsung family’s fortune has more than doubled in a year, making it Asia’s third-richest family, Bloomberg reported Wednesday. According to the Bloomberg Billionaires Index, the family’s wealth stood at $45.5 billion as of March, up from $20.1 billion a year earlier. The figure put the Lee family behind only India’s Ambani family, which controls Reliance Industries, and Hong Kong’s Kwok family, behind property developer Sun Hung Kai Properties. Bloomberg noted that after former Samsung Chairman Lee Kun-hee died in 2020, the family faced two major challenges: a massive inheritance tax bill and the imprisonment of Samsung Electronics Chairman Lee Jae-yong. At the time, some observers questioned whether the family’s grip on the conglomerate could weaken. Five years later, however, the rise of artificial intelligence has lifted the value of Samsung’s semiconductor business, reinforcing the family’s control and swelling its fortune, according to the report. It went on to note that Samsung Electronics Chairman Lee Jae-yong, who had largely kept out of public view amid legal

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