SM Entertainment chairman Lee Soo Man and YG Entertainment CEO Yang Hyun Suk have joined the ranks of the rich and fabulous who own stocks worth over 200,000,000,000 KRW ($176 million USD).
This is all thanks to Hallyu making waves across the globe, and in the case of YG, “Gangnam Style” was a huge contributor.
According to a Chaebul.com report on August 27th, based on the closing price of the stock market on August 24th, SM Chairman Lee Soo Man possessed 242,000,000,000 KRW ($213 million USD), while Yang Hyun Suk possessed 223,100,000,000 KRW ($196 million USD).
This is the first time two celebrities have both obtained stock wealth in the 200 billion KRW range at the same time.
The stock price for SM Entertainment, the label home to Girls’ Generation, Super Junior, and more closed out at 55,100 KRW (~$48) on August 24th, and the chairman who owns 21.5% (4,392,368 shares) was ranked as the celebrity with the greatest stock wealth. The same day, the company’s market capitalization was recorded at 1.125 trillion KRW ($995 million USD), setting a new record. The price of the stock fell to 53,900 KRW (~$47 USD) on August 27th, but SM is still in the lead when it comes to total market cap for entertainment companies.
CEO Yang Hyun Suk of YG Entertainment, the label home to Big Bang and artist Psy who became an overnight sensation with “Gangnam Style“, owns 35.79% (3,659,554 shares), and though he had steadily seen capital increase without much consideration, he has recently seen a 71.7% spike in stock wealth compared to the beginning of this year. On August 27th, YG’s stock price was 62,500 KRW (~$55 USD), close to their high of 65,000 KRW (~$57 USD) (Feb 21st, 2012). YG Entertainment has a market capitalization of around 645 billion KRW ($570 million USD).
Head of Key East and main lead of previous hit drama series ‘Winter Sonata‘ Bae Yong Jun is third on the list of celebrities with the greatest stock wealth, with 19,500,000,000 KRW (~17 million USD). J.Y. Park, founder of JYP Entertainment, the label home to Wonder Girls and 2PM was next on the list with 5,900,000,000 KRW (~$5.2 million), while Yang Soo Kyung, former artist and wife of Yedang Entertainment CEO Byun Doo Seob claimed fifth place with a similar amount.
Source & Image: SeoulNewspaper via Nate