‘Baby Shark’ Producer’s Uncle Sees Fortune Triple After Spin-Off To Focus On Startups

Under a year after debuting About Forbes’ Korea Rich List, apparel entrepreneur Kim Chang-soo’s net value has shrunk to $2.1 billion, catapulting him to the positions of the nation’s 20 wealthiest people, as a result of some spin-off to concentrate on investing in startups.

F&F last month spun off its core clothing business, which comprises the manufacturers MLB and Discovery Expedition. The spin-off firm, known as F&F Co. Its shares is up about 15% because investors are optimistic about its apparel brands following the spin-off.

The Rest of the company was renamed Into F&F Holdings and will now concentrate on investing in other businesses. Its shares, suspended on April 28, dropped roughly 50% because it resumed trading after the record of its spin-off business. However, f&F Holdings’ stocks have stabilized last week and are up 90% because of 2019.

Shareholder of F&F Co. Ltd. and F&F Holdings, using a 45% stake in every business. Having a net worth of $2.1 billion, he still ranks No. 18 one billionaires in Korea on the Real-Time Billionaires List, only behind LG Chairman Koo Kwang-mo and Naver cofounder Lee Hae-jin.

While traders are more Optimistic about F&F Co. Ltd.’s clothes industry, F&F Holdings seems to become seriously interested in investing in startups. Although a month later, F&F Holdings decided to turn off its clothes company, it started an investment subsidiary in December called F&F Partners. Based on the Korean startup-funding website, The VC, F&F Partners, has spent a total of over 3.9 billion won (approximately $3.5 million) so much in 3 content-production startups: BambooNetwork, Channel OCT and WhyNot Media.

Group, as its new CEO on March 26, taking more than Kim.

Entrepreneur. Min-Seok is the manufacturer of this viral”Baby Shark Dance” video, Which has 8.7 billion viewpoints, making it the most viewed movie on YouTube. The Two-minute earworm about a family of sharks, published in 2016, went viral Year since the most-viewed YouTube video. In 2010, Min-Seok, and two prior Colleagues from Korean gambling companies Nexon and NHN, cofounded online instruction Supplier SmartStudy, which introduced”Baby Shark Dance.”

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Samatha Vale
Samatha a senior writer for HC's entertainment team. She is an entreprenuer, mother and an excellent writer. She's also an avid reader, music enthusiast and all around inquisitive person - which is just a nice way of saying she's nosy.

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