After booming in 2021, the combined wealth of the 50 richest declined 17% this year. Merely eight listees saw their net worth increase, led by private equity billionaire Michael Kim—this year’s biggest gainer in both percentage and dollar terms.
The list was compiled using information from the individuals, analysts, government agencies, private databases, stock exchanges and other sources. Net worth numbers are based on stock prices and exchange rates as of the close of markets on April 1. Private companies were valued by using financial ratios and other comparisons with similar, publicly traded companies.
The estimates can include a spouse’s wealth and, if the person is the company founder, the wealth of sons and daughters that is derived from that company. The list can also have those who are included due primarily to extensive business and residential ties to South Korea, or citizens who don’t reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information.
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