Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity Net Worth 2026
Koo Kwang-mo took the helm of his family's business after his father died in May. You may have heard of his family's business: LG. The 40-year-old...
💼 Entrepreneur / Business Mogul · Updated: October 03, 2026 · 3 min read · FamsWorthHQ Financial Desk
Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity — Estimated Net Worth & Financial Dossier
Executive Summary:
Koo Kwang-mo took the helm of his family's business after his father died in May. You may have heard of his family's business: LG. The 40-year-old heads up one of South Korea's largest conglomerates and is the largest shareholder of LG Corp., holding company of the global company that makes everything from smartphones to appliances to vacuum cleaners. Koo inherited his father's 8.8% stake in LG, giving him 15% of the company. His holding is valued at $1.55 billion. Normally, we'd be celebrating another new billionaire being created, but this is South Korea, and the inheritance or "death" tax is one of the highest in the world.
In South Korea, death taxes can be as high as 50% when the inheritance is more than $2.7 billion US. An extra 20% tax is tacked on when the largest shareholder passes down shares. That means that Koo is facing an inheritance tax of $630 million. His two sisters each got a 2.5% stake in LG from their late father, making the siblings' collective tax bill more than $795 million.
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💰 Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity Financial Profile OverviewVerified Benchmark
Estimated Net Worth
$193.9 Billion
Annual Salary / Earnings
$16.7 Billion / year
Monthly Income
~$1.4 Billion / month
Primary Wealth Sources
Business Ownership, Investments, Real Estate, Equity Holdings
Known Assets & Portfolio
Real Estate, Luxury Vehicles, Business Investments
Nationality / Origin
American
Industry / Category
💼 Entrepreneur / Business Mogul
Data Last Updated
November 2026
Biography & Early Wealth Journey
PAU BARRENA/AFP/Getty Images
The Koo family is planning to pay the full $795 million over the next five years, with the first payment due by the end of November 2018, according to a statement from LG Corp. It is expected that Koo will take out a loan against his stakes in LG.
Koo's inheritance tax is the largest death-tax payment ever in South Korea. However, it is a rare move by the wealthy family to fully accept the burden. Some of the country's wealthiest families have taken extreme measures to avoid inheritance taxes such as setting up new businesses in their children's name.
Primary Income Streams & Multi-Million Contracts
Samsung and Hyundai are expected to also have a succession plan in place, which causes a concern for its heirs. Samsung Chairman Lee Kun-hee owns shares of Samsung worth nearly $16 billion. He's been incapacitated since a heart attack in 2014. His son Jay Lee will be responsible for billions of dollars in taxes in order to get his hands on his father's holdings. Hyundai Motor Group heir Euisun Chung faces a similar future.
Only Japan's death tax (55%) is higher than South Korea. The death tax in the United States is currently at a rate of 40%.
What is Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity's net worth in 2026?
As of 2026, Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity's estimated net worth is $193.9 Billion.
How does Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity make money?
Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity generates income primarily through Business Ownership, Investments, Real Estate, Equity Holdings.
What are Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity's biggest assets?
They maintain a diverse portfolio including Real Estate, Luxury Vehicles, and Business Investments.
How much does Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity earn per year?
Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity brings in approximately $16.7 Billion in annual earnings.
Is Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity a millionaire or billionaire?
Yes, Insanely High Death Tax Keeps Lg Heir Out Of Billionaire's Club | Celebrity is a billionaire.
Financial Valuation Disclaimer: All net worth figures, annual salaries, and asset estimates presented on FamsWorthHQ are formulated using publicly accessible data, corporate filings, industry contract disclosures, and proprietary statistical modeling. Unless explicitly designated, figures represent estimated calculations and should be referenced for informational and comparative entertainment purposes.
