The shares of South Korean internet giant Kakao are skyrocketing this year. The platform’s share saw a good rise which ultimately made the founder-owner Kim Beom-su, the richest man in the country. He has topped the real-time ranking.
As of Wednesday, the shares for Kakao went up by 110% in 2021. With this the founder’s net worth as well saw a monumental raise adding $5.6 billion in total. Back in May, when Forbes did the calculation on the wealthiest persons in Korea, Kim was in the fourth position. But now his ranking has completely changed.
In real-time, his wealth as of now is $16.2 billion. According to the Real-Time Billionaires List, he is now in the top position. Kim beat Seo Jung-jin who was earlier in the first position but now went down a spot. Kakao is one of the biggest internet giants of South Korea. They come alongside Samsung, Hyundai, SK and LG. There are many services provided by Kakao which has made them, one of the biggest providers in Korea.
You have a chat / messaging service in the name of ‘Kakao Talk’ which is used by all even celebrities. KakaoTalk has 45 million users. The company started with this and went on expanding its market. With acquisitions, Kakao now provides many different services. They are into advertising, maps, payment service and games. They even have an app called Kakao Webtoon.
Kakao Pay has security features like face recognition, QR code payment method and other features. Their partnership with Ant Group in particular proved to be good for the company. Apart from that Kakao games went public back in September last year. They garnered a whopping $320 million from it.
In March this year, Kim joined the Giving Pledge. It is a drive that was started by Bill Gates, Melinda Gates and Warren Buffett motivating all the wealthy persons to donate part of their wealth to the poor. The company will expand more in the future. The chairman has bigger plans.