Korean Gaming Pioneer Kim Jung-Ju’s Teenage Daughter Becomes World’s Youngest Billionaire

KIm Jung-youn, the teenage daughter of late Nexon founder Kim Jung-ju, who died in February at 54, became the world’s youngest after inheriting a stake in the online gaming giant of billionaires.

Zheng Yun and her older sister, Zheng Min, each inherited a 30.78 percent stake in their father’s privately held NXC, under a regulatory rule. archive Earlier this month. NXC is Nexon’s largest shareholder with a nearly 48 percent stake. Combined with the sisters’ existing stake in NXC, their stake in the company is worth $2.5 billion each. After deducting their estate tax bill, Forbes At over $1.5 billion each (South Korea has one of the highest estate taxes in the world), Jung-youn and Jung-min’s net worth is estimated at $1 billion each.

Jung-ju’s wife, Yoo Jung-hyun, is already a billionaire, having inherited a 4.57% stake in NXC from her husband. Yoo, 53, helped Jung-ju start Nexon in 1994 and remains NXC’s largest shareholder with a 34 percent stake. She made South Korea’s 50 richest list for the first time this year, with a net worth of $3 billion.

Little is known about Zhenzhu’s family.it has been widely report That Jung Min and Jung Yoon were born in 2002 and 2004, respectively. At 18, Zheng Yun is currently the youngest billionaire in the world. The previous recipient of the honor was Germany’s Kevin David Lehmann, who turned 20 this month. His father, Guenther Lehmann, transferred his shares in German pharmacy chain drogerie markt to his son at the age of 14, but the company remained in escrow until his 18th birthday in 2020.

Jung-ju himself is notoriously media shy. While Nexon is headquartered in Tokyo, he established NXC on Jeju Island, a resort island off the southern coast of the Korean peninsula. He retired from day-to-day management in 2006 to focus on philanthropy and other investments.Zhengzhou was rated as one of the Forbes AsiaLast year’s 15 Charity Heroes for his donation to Children’s Hospital.

Before his death, Jung-ju was South Korea’s third-richest person with a net worth of $10.9 billion, behind pharmaceutical tycoon Seo Jung-jin and Samsung’s Jay Y. Lee.

— with assistance He Jian.

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