Samsung chief Lee becomes 45th richest individual on the planet

Avatar Written by Ali Leghari ·  52 sec read >

The tech company Samsung has released its earning figures of Q2, and to much surprise the profit of the company has soared by 72 percent, defying all the assumptions which the analysts predicted. Not only the profit of the company has increased but the company’s chief Lee has also become 45th richest individual on the planet.

Previously, Lee was placed at 68th position in world’s richest person list. MR. Lee has achieved this milestone due to company’s profit which it earned in Q2. Samsung has made $12.1 billion profit on a roughly $52 billion revenue. Similarly, the Samsung chief is now valued at $18.5 billion. The business tycoon owns almost $12.6 billion worth shares in Samsung group.

It is worth mentioning here, that the company despite being in a difficult position with regards to the Note 7‘s battery combustion fiasco, has gained profit, surprising the critics. Moreover, it is also being anticipated that for the first time in Samsung’s history the company might achieve higher profit than its arch rival Apple.

See also: Samsung closes second quarter with record-breaking profits

Moving onward, the company has just launched another of its flagship dubbed as Galaxy J7 Max and is priced at around $350. Furthermore, the company is also reportedly working on Smart Speaker named as Vega to compete with Amazon Echo.

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