Lee Kun Hee, the second-generation chairman of Samsung Electronics, became South Korea's richest man in terms of stock ownership after the listing of Samsung Life Insurance Co last week.
Based on the closing price after the IPO, stocks owned by Lee were valued at $10.71 billion making him the country's richest man, according the Chaebul.com, a specialist website that collates information on the country's family-owned conglomerates.