J.Y. Lee’s Samsung Stake Doubles After Inheritance Distribution

Samsung heir Jay Y. Lee’s stakes in three key group affiliates, including Samsung Electronics Co., will rise significantly following the death of his father, strengthening his control over South Korea’s largest corporation.

Lee’s stake in the tech giant increased to 1.63% from 0.7% previously, according to a filing on Friday. Separate filings on Friday also revealed that Lee will inherit half of his father Lee Kun-hee’s stake in Samsung Life Insurance Co., which raises his stake to 10.44% from 0.06%, strengthening his grip over Samsung Electronics. The younger Lee will receive about 1.2 million shares of Samsung C&T Corp., boosting his stake in Samsung C&T to 18.1% excluding preferred stock.