Money

Samsung heir and family set to pay $10.8 billion in inheritance tax

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3 years ago

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The family of the deceased Samsung Electronics boss Lee Kun-hee will pay more than $10.8 billion dollars in inheritance taxes.

Lee died in October leaving his estate that’s worth $26-trillion.

Jay Y. Lee, co-vice chairman of Samsung Electronics Co., left, wears a protective mask as he arrives at the Seoul High Court in Seoul, South Korea, on Monday, Jan. 18, 2021. A judge will hand down a new sentence for Lees involvement in a corruption case that brought down a South Korean president and ignited a backlash over family-run conglomerates. Photographer: SeongJoon Cho/Bloomberg via Getty Images

He’s credited with transforming Sumsung into the world’s largest smartphone and memory chip maker.

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