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Manila Bulletin devider Entertainment devider Music and Concerts devider Forbes: HYBE Chairman Bang Si-hyuk is 16th richest person in South Korea

Forbes: HYBE Chairman Bang Si-hyuk is 16th richest person in South Korea

Published Apr 4, 2024 08:15 am

Bang Si-hyuk, chairman of entertainment company HYBE Corp., ranked 16th among the richest men in South Korea in 2024, according to Forbes. 

Forbes released its annual richest billionaires list with rankings by country. 

“There are now more billionaires than ever: 2,781 in all, 141 more than last year and 26 more than the record set in 2021. They’re richer than ever, worth $14.2 trillion in aggregate, up by $2 trillion from 2023 and $1.1 trillion above the previous record, also set in 2021,” according to Forbes. 

In South Korea, there are 37 people who made the list. The richest man in South Korea is Samsung Electronics Executive Chairman Lee Jae-yong, or Jay Y. Lee in Forbes’ list, 55, with a total net worth of $11.5 billion in 2024. 

Lee1 .jpg

Samsung Electronics Executive Chairman Lee Jae-yong (Screenshot from Yonhap News TV video)

Lee, who ranked 173rd among Forbes’ richest in the world, was imprisoned after he was found guilty of bribery in January 2021 and was sentenced to two and a half years in prison. He was released from prison in August 2021 when President Moon Jae-in granted him parole. 

In August 2022, South Korean President Yoon Suk-yeol granted him pardon. 

Lee regained the No. 1 position as South Korea’s richest after ranking second last year. 

Meanwhile, Bang Si-hyuk, 51, ranked 16th among the richest in South Korea with a net worth of $1.8 billion. He ranked 1,764th billionaire in the world. 

He founded HYBE, originally named Big High Entertainment, “one of Korea's largest music labels and entertainment agencies,” according to Forbes. 

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HYBE Chairman Bang Si-hyuk (HYBE) Bang1.jpeg

HYBE Chairman Bang Si-hyuk (4th from right) with BTS (Instagram) 

HYBE is the parent company that manages K-pop artists including BTS, Seventeen, ENHYPEN, Tomorrow X Together, NewJeans and Le Sserafim.  

Forbes added, “He took the company public in October 2020 in what was South Korea's largest IPO in three years, which made him a billionaire. Hybe's success is attributed to its seven-member boy band, BTS, which scored five No. 1 albums on the U.S. Billboard 200. Bang worked as a composer for JYP Entertainment, one of Korea's "Big Three" music agencies, before venturing out on his own. In May 2021, Hybe acquired Ithaca Holdings, which manages Justin Bieber and Ariana Grande, for over $1 billion.”

FORBES RICHEST LIST FOR SOUTH KOREA 

SOUTH KOREA RANKING

WORLD RANKING

NAME

NET WORTH

AGE

SOURCE

INDUSTRY

1

173.

Jay Y. Lee

$11.5 B

55

Samsung

Technology

2

364.

Seo Jung-jin

$7.3 B

66

Biotech

Healthcare

3

453.

Cho Jung-ho

$6.3 B

65

Finance

Finance & Investments

4

624.

Mong-Koo Chung

$4.9 B

86

Hyundai

Automotive

5

686.

Kim Beom-su

$4.6 B

58

Online services

Technology

6

734.

Hong Ra-hee

$4.3 B

78

Samsung

Technology

7

785.

Lee Boo-jin

$4 B

53

Samsung

Technology

8

871.

Euisun Chung

$3.7 B

53

Hyundai

Automotive

9

896.

Lee Seo-hyun

$3.6 B

50

Samsung

Technology

10

920.

Kwon Hyuk-bin

$3.5 B

50

Online games

Media & Entertainment

11

1143.

Kwak Dong Shin

$2.9 B

49

Semiconductors

Technology

12

1438.

Yoo Jung-hyun

$2.3 B

54

Online games

Media & Entertainment

13

1545.

Lee Dong-chae

$2.1 B

64

Chemicals

Manufacturing

14

1623.

Kim Jun-ki

$2 B

79

Diversified

Diversified

15

1623.

Koo Kwang-mo

$2 B

46

LG

Diversified

16

1764.

Bang Si-hyuk

$1.8 B

51

Entertainment

Media & Entertainment

17

1945.

Lee Ho-jin

$1.6 B

61

Diversified

Diversified

18

2046.

Chey Tae-won

$1.5 B

63

Oil, semiconductor

Technology

19

2046.

Lee Su-jin

$1.5 B

46

Hospitality

Technology

20

2046.

Park Soon-jae

$1.5 B

69

Biopharmaceuticals

Healthcare

 

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