Samsung’s heirs are getting a lot of money.
In the first half of 2021, Samsung Electronics paid out the world’s largest dividends, significantly benefitting the heirs of Samsung Group Chairman Lee Kun-hee, who died last year.
According to Seoul-based business tracker Leaders Index, Lee’s wife, Hong Ra-hee, received $84 million in stock dividends in the first six months of 2021, the most in South Korea.
After Lee’s death on Oct. 25, she inherited a 2% interest in Samsung Electronics, the group’s representative branch. He has been sick since 2014, when he had a heart attack.
Lee Kun-sole hee’s son, Lee Jae-yong, vice chairman of Samsung Electronics, received $60 million in dividends, and his two daughters received $34 million each.
Lee Jae-yong received half of his father’s Samsung Life Insurance investment, making him the company’s largest individual shareholder with a 10.44 percent interest.
Because of the group’s cross-shareholding structure, the 53-year-old also inherited stakes in other Samsung companies, making him the de-facto CEO of Samsung Electronics, the world’s largest maker of memory chips and cellphones.
According to Leaders Index, the dividends are likely connected to the Samsung heirs’ high inheritance taxes.
Samsung Electronics announced in April that the heirs will have to pay $11 billion to inherit Lee Kun-fortune. hee’s Over the next five years, $9.2 billion will be paid in installments.
“Samsung Electronics gave out the largest dividends in the world in the first half of this year. And I believe it has something to do with Samsung heirs’ tax burdens,” Leaders Index CEO Park Ju-gun told Nokia News News Korea.
He said, “Along the same lines, I expect Samsung Electronics will maintain strong payout ratios in the next years.”
South Korean corporations paid $7.9 billion in dividends from January to June 2021. According to Leaders Index, more than half of it came from Samsung Electronics, which shelled out $4.2 billion.
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