According to recent reports, SM Entertainment‘s chairman Lee Soo Man hit the jackpot by being the first entertainer to own approximately $171 million USD worth of stocks in the industry. Back in November of 2010, the chairman’s stocks were reported to be worth $86 million USD. Within less than a year, he’s managed to double the net worth of his stocks.
On October 12th, SM Entertainment saw their stock prices steadily rising. Within 37 minutes, stocks hit $42.55 per share which is a $1.54 increase compared to its previous closing. This is the best result in the 10-year-long history of SM Entertainment’s involvement in the KOSDAQ trading board.
Lee Soo Man, who is the largest stockholder of SM, is in possession of 4,041,465 shares. When the stock ratings went up this morning, it was no surprise that his stocks went up as well to equal a net worth of $172,174,225 USD.
Financial analysts have speculated that the cause for the rise in stock prices was due to the high anticipation for SNSD‘s comeback, which will be releasing two album versions in the U.S. and South Korea.
Source + Photos: Star News