Bloomberg Billionaires Index

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#201 Suh Kyung-Bae $7.72B

Random fact: Grandmother's homemade hair oil inspired father's business.

Overview

Suh is the chairman of Amorepacific Group, the largest beauty company in South Korea. The Seoul-based conglomerate is the seventh-largest cosmetics manufacturer in the world, as of April 2017. It owns cosmetic brands Sulwhasoo and Laneige, and reported revenue of 6 trillion won ($5.3 billion) in 2017.

As of May 27, 2018:
Last change -$34.6M (-0.5%)
YTD change -$460M (-5.6%)
Industry Consumer
Biggest asset 002790 KS Equity
Citizenship Korea, Republic of
Age 55
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Suh Kyung-Bae's net worth of $7.72B can buy ...

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of the total wealth of the 500 richest people in the world
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of U.S. existing home sales
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Latest News

Net Worth Summary

Cash
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Confidence rating:

The majority of Suh's fortune is derived from his stake in Amorepacific Group, South Korea's largest cosmetics company and the seventh-largest cosmetic manufacturer in the world as of April 2017, according to the company's website. Suh directly owns 54 percent of ordinary shares and another 16 percent of preferred shares in Amorepacific Group, according to the company's 2018 first-quarter report. Suh's daughter holds a 3 percent stake in the company's ordinary shares, and it's been credited to Suh because he ultimately controls the shares.  

Suh also holds an 11 percent stake in Amorepacific Corp. directly, according to its 2018 first-quarter report.

He owns two properties in Seoul, valued at $42 million, according to real estate market data released in May 2018 from a local civic group Citizens’Coalition for Economic Justice.

The billionaire has collected 225 billion won ($208 million) in dividends through May 2018, according to company filings and an analysis of Bloomberg data. The value of his cash investments is based on an analysis of these proceeds, as well as taxes and market performance.

Ben Kang from Amorepacific Group's global public relations team declined to comment on Suh's net worth.

Biography

Birthdate: 1/14/1963
Family: Married, 2 children
Education: 1987, Cornell University, Master's Degree Yonsei University, Graduated, Business Administration

Suh Kyung-Bae was born in 1963, the son of Suh Sung-Hwan, who founded cosmetics company Pacific Chemical Engineering in 1945. He studied business at Yonsei University in Seoul before graduating with an MBA from Cornell University in 1987, according to an interview with the school's newspaper. 

He returned to South Korea to manage one of his father's factories and helped oversee a series of divestments that left the company focused on its beauty and health divisions. Suh was appointed chief executive officer 10 years later, according to the company's 2013 sustainability report. The company was renamed Amorepacific in 2002, a year before his father died. Four years later, the billionaire reorganized the company's structure, spinning off the core beauty product business into Amorepacific Corp.

Suh is married with two daughters.

Milestones
  • 1945 Father starts Amorepacific forerunner Pacific Chemical Engineering.
  • 1963 Kyung-Bae Suh is born in South Korea.
  • 1964 Amore brand is introduced and door-to-door sales start.
  • 1987 Joins Amorepacific after getting an MBA from Cornell University.
  • 1997 Kyung is appointed chief executive officer.
  • 2002 Pacific is renamed Amorepacific.
  • 2005 Company celebrates its 60th anniversary in Seoul.
  • 2012 Share of South Korean cosmetics market reaches 39 percent.