Bloomberg Billionaires Index

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#408 Kim Jungju $4.43B

Random fact: Once waited almost four hours to meet SoftBank billionaire Masayoshi Son.

Overview

Kim is the co-founder of Nexon, a gaming company founded in South Korea and trading publicly in Japan. The Tokyo-based business developed the world's first online multiplayer game in 1996 and has since released hits such as "Maple Story" and "Cat Rider." Nexon reported revenue of 138.1 billion yen ($1.7 billion) in 2016.

As of May 30, 2017:
Last change -$17.9M (-0.4%)
YTD change +$972M (+28.1%)
Industry Technology
Biggest asset 3659 JP Equity
Citizenship Korea, Republic of
Age 49
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Kim Jungju's net worth of $4.43B can buy ...

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troy ounces of gold
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barrels of crude oil

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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 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:

The majority of Kim's fortune is derived from his stake in Nexon, a publicly traded developer and distributor of online and mobile games that he co-founded. 

Kim controls 54.5 percent of Nexon through holding companies NXC and NXMH, as well as in his wife's name, according to the company's March 27, 2017 share prospectus. He also has stakes in IDIS Holdings, a holding company whose subsidiaries include a maker of digital video recorders, and Nexen Corp., which manufactures tire inner tubes and flaps.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes and market performance.

Biography

Birthdate: 2/22/1968
Family: Married, 2 children
Education: Korea Institute of Science And Technology, PhD Seoul National University, Bachelor's Degree

Kim Jungju was born in South Korea on Feb. 22, 1968. He studied computer science and engineering at Seoul National University and completed a PhD in electronic engineering and computer science at the Korea Advanced Institute of Science and Technology. He created gaming company Nexon together with partner, Jake Song, in South Korea in 1994. A year later, Song left Nexon, relinquishing his 50 percent stake in the company.

Nexon started the world's first online game, "Baram e Nara," also known as the "The Kingdom of the Winds" in 1996. It pioneered the "freemium" gaming business model: it's free to play the games but players need to pay small amounts for updates and additional virtual items to advance faster at each level. Since then, Nexon produced hit games such as "Maple Story,"Cat Rider" or "Mabinogi."

Kim took the company public in Tokyo in December 2011. He has been a fan of Lego for forty years and acquired the world's largest re-seller of the bricks, BrickLink, as a personal investment in 2013. Other acquisitions include Gloops, a Japanese mobile game company, and Stokke, a Norwegian maker of children's furniture.

The billionaire was indicted in July 2016 for offering bribes to a senior prosecutor, helping him buy unlisted Nexon stocks. Kim issued a written apology after the indictment and resigned as a director of Nexon. He, however, remains chairman of Nexon's holding company, NXC. Kim was found not guilty of bribery charges in December 2016 but is being tried again after prosecutors filed an appeal.

Milestones
  • 1968 Kim Jungju is born in South Korea.
  • 1994 Creates Nexon with partner Jake Song.
  • 1995 Partner Jake Song relinquishes his stake in Nexon.
  • 1996 Starts the world's first online game, The Kingdom of the Winds.
  • 2011 Nexon begins trading in Tokyo.
  • 2016 Found not guilty after being indicted for bribery charges.
  • 2017 Bribery trial resurfaces after prosecutors filed an appeal.