Source of Wealth: SamsungAge: 109Birth Place: Uiryeong County, South KoreaFull Name: Lee Byung-chul Nationality: South KoreaDate of Birth: February 12, 1910Ethnicity: KoreanOccupation: BusinessmanEducation: Waseda UniversityChildren: 3 (Lee Kun-hee, Lee Myung-Hee, Lee Maeng-hee)
Lee Byung Chul was a Korean businessman best recognized as Samsung Group’s founder. He was considered one of the most successful businessmen in South Korea. Today, Samsung Group is the largest business group in South Korea. Samsung actually means “three stars” which are seen in the company’s corporate logo.
Eventually, Samsung became involved in transporting goods in Korea and other countries. Through time, it became one of the largest “trading companies” in Seoul. In 1953, Chul launched Cheil Sugar which is now known as CJ CheilJedang. Cheil Sugar became very successful, so he used its income in founding other companies in diverse industries such as consumer electronics, cars, insurance, textile and department stores.
Later on, he chaired the Federation of Korean Industries. He also became Korea’s richest man. On November 19, 1987 in Seoul, South Korea, Lee Byung Chul died, age 77.