Kakao chairman trims stake after charity pledge

Kakao_alamy_575px_April 16 2021
By Rashmi Kumar
16 Apr 2021

The chairman of South Korea’s Kakao Corp has kicked off his official pledge to donate more than half of his wealth to society by raising about W500bn ($448m) from a stake sale in the messaging app on Thursday.

Kim Beom-su, Kakao’s chairman, is estimated to be worth $11.7bn, according to Forbes. The self-made billionaire businessman told Kakao’s employees in February that he would commit more than half his wealth to resolving social issues throughout his lifetime.

He followed that announcement by officially signing the Giving Pledge ...

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