Bloomberg Billionaires Index

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#266 Kwon Hyuk-Bin $6.03B

Random fact: Crossfire is played in more than 80 countries.

Overview

Kwon is the founder and chairman of Smilegate Holdings, an online and mobile games developer with revenue of $572 million in 2016. The Seongnam-si, South Korea-based company is the publisher of tactical first-person shooter game Crossfire. The closely held developer has partnered with internet company Tencent since 2008.

As of July 26, 2017:
Last change -$36.0M (-0.6%)
YTD change +$576M (+10.6%)
Industry Media & Telecom
Biggest asset Smilegate Holdings
Citizenship Korea, Republic of
Age 42
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Kwon Hyuk-Bin's net worth of $6.03B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Kwon's fortune is derived from Smilegate Holdings, a closely held company that produces video games and distributes them in more than 80 countries throughout Asia, Europe, and North and South America. He owns all of Smilegate, which partners with Chinese internet company Tencent to distribute its most popular game Crossfire in China.

The business had revenue of $572 million in 2016, according to the company's website and is valued using the average price-to-earnings multiples of four publicly traded peer companies: Gungho Online Entertainment, Nexon, Nexon GT and NCSoft.

Kay Lee, a spokeswoman for the company, confirmed Kwon's ownership, but didn't respond to e-mail and telephone messages requesting comment on his net worth.

Biography

Birthdate: 1974
Family: Unmarried, No children
Education: 1999, Bachelor's Degree, Sogang University

Kwon Hyuk-Bin was born in South Korea in 1974. He obtained a bachelor's degree in Electronic Engineering from Sogang University in 1999. Three years after graduation, he founded Smilegate.

The game startup wasn't able to penetrate the domestic market in its first four years so Kwon changed his marketing strategy and switched his focus to China by cooperating with the game distributors there. Smilegate partnered with Tencent and launched Crossfire in 2008.

Crossfire is Smilegate's most successful game. It has over 8 million concurrent users and more than 650 million worldwide subscribers, according to Smilegate's website in July 2017.

Milestones
  • 1974 Kwon is born in South Korea.
  • 1999 Earns a bachelor's degree in Electronic Engineering.
  • 2002 Establishes Smilegate.
  • 2008 Enters the Chinese market in deal with Tencent.
  • 2008 Revenue tops 1 billion won for the first time.
  • 2009 Reaches 1 million concurrent users in China.
  • 2012 Signs contract with Disney to develop a multiplayer online game.
  • 2014 Purchases a 20 percent stake in Korean mobile game Sundaytoz.