Kakao Founder Becomes Korea’s Richest Person As Shares Of His Internet Giant Surge

As people continue to live, work and play online, shares of South Korean internet giant Kakao have more than doubled so far this year, making its founder and chairman, Kim Beom-su, the richest person in Korea.

As of Wednesday, Kakao shares are up about 110% in 2021, adding $5.6 billion to Kim’s net worth since Forbes calculated the fortunes of Korea’s wealthiest in May. He was No. 4 on the Korea wealth rankings. The self-made entrepreneur currently has an estimated net worth of $16.2 billion on the Real-Time Billionaires List, $3 billion more than Celltrion cofounder Seo Jung-jin, who was Korea’s richest person but is now at No. 2.

Kim, 55, has come a long way. He grew up in one of Seoul’s poorest neighborhoods, the son of a pen factory worker and a hotel maid with a grade-school education. The third of five children, and the eldest son, he and his siblings were raised in a one-bedroom apartment by their…