Meet the world’s new youngest billionaire: South Korea’s Kim Jung-youn, 18, overtook Kevin David Lehmann in net worth after the death of her dad Kim Jung-ju, founder of online gaming company Nexon

- Kim Jung-youn inherited a 30.78 per cent stake in NXC worth US$2.5 billion with her sister Kim Jung-min, after her father Kim Jung-ju died in February
- Jung-ju founded Nexon in 1994 with major hits like MapleStory and The Kingdom of the Winds, spent billions on investments in China and beyond, and most recently focused on philanthropy
Jung-youn takes the crown from Kevin David Lehmann, 20. Lehmann, who is from Germany, inherited a stake in the German drugstore chain Drogerie Markt from his father, Guenther Lehmann. The transfer was done when he was 14 years old, but remained under a trusteeship until his 18th birthday in 2020.
Here’s what you need to know about the new teen billionaire and her late father …
How did Kim Jung-youn get the money?

Jung-youn has taken the crown as youngest teen billionaire in the world. She and her sister Kim Jung-min inherited equal shares of a 30.78 per cent stake in NXC, the holding company for Nexon, reported Economic Times India.

Both siblings inherited the money after their father, Jung-ju, 54, died in February, leaving a vast amount of his wealth to his children. According to The Economic Times, their company stakes are worth US$2.5 billion each. But South Korea has a high inheritance tax, which resulted in the sisters having an estimated net worth of around US$1 billion instead, reported Forbes.
But Kim Jung-ju’s kids won’t lead Nexon

Even though the teenage billionaire has a large stake in the business, according to Forbes, her father pledged that his children would not be handed control of the company when he died.

In a statement in 2018, the gaming founder confirmed that management of the company would be handled by seasoned leaders to keep business transparent and create a fair corporate culture, reported The Investor.
The businessman suffered a number of court trials and said the process made him “look back at my life and the small company I founded with friends in 1994”, per the same source. The decision to ensure the company was managed by appropriate leadership came hand in hand with Jung-ju focusing on philanthropic work.