Korean pioneer in gaming Teenage Daughter of Kim Jung-Ju Becomes World’s Youngest Billionaire

Korean pioneer in gaming Teenage Daughter of Kim Jung-Ju Becomes World's Youngest Billionaire

The teen daughter of deceased Nexon founder Kim Jung-ju, who passed away in February at the age of 54, Kim Jung-youn, has inherited a stake in the massive online gaming company, making her the world’s youngest billionaire.

According to a regulatory filing made earlier this month, Jung-youn and her older sister, Jung-min, each received a 30.78% ownership stake in NXC, their father’s personal holding firm. With a nearly 48% interest in Nexon, NXC is the company’s largest stakeholder. The sisters’ NXC interests are valued at $2.5 billion each when combined with their existing shares in the business. Jung-youn and Jung-net min’s worths are projected to be $1 billion each after deducting their inheritance tax liabilities, which Forbes estimates to be over $1.5 billion apiece (South Korea has one of the highest inheritance taxes in the world).

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Yoo Jung-hyun, Jung-already-billionaire ju’s wife, received a 4.57% ownership stake in NXC from her husband. Yoo, 53, assisted Jung-ju in founding Nexon in 1994 and still has the largest interest in NXC, holding 34% of the company. With a $3 billion net worth, she debuted on the Korea’s 50 Richest list this year.

The family of Jung-ju is a mystery. The birth years of Jung-min and Jung-youn have been commonly stated to be 2002 and 2004, respectively. Jung-youn is the youngest billionaire in the world right now at the age of 18. German Kevin David Lehmann, who turned 20 this month, was the last holder of the honour. When he was 14 years old, Guenther Lehmann handed an interest in the German drugstore chain drogerie markt to his son, but it was held in trust until he was 18 in 2020.

Jung-ju was renowned for being media-averse. NXC was founded in Jeju, a vacation island off the southern coast of the Korean peninsula, while Nexon’s headquarters are in Tokyo. In 2006, he stopped overseeing day-to-day operations and concentrated on philanthropy and other investments. Due of his contributions to children’s hospitals, Jung-ju was recognised as one of Forbes Asia’s 15 Heroes of Philanthropy last year.

With a net worth of $10.9 billion, Jung-ju was the third-richest person in South Korea prior to his passing, after Samsung’s Jay Y. Lee and pharmaceutical mogul Seo Jung-jin.

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About the Author: Evelyn

Evelyn is a content writer who has written hundreds of articles about business strategy and operations, with a focus on finance. She also published articles on payroll, small business funding, and content marketing. Evelyn also writes about improving company culture, optimizing business social media pages, and choosing appropriate organizational structures for small businesses.

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