South Korean businessman Shin Dong-Bin is the Chairman of Lotte Group and he has an estimated net worth of $1.64 billion as of April 2016. According to Forbes, he is the fifth richest person in Korea’s 50 Richest list and is ranked 736th in the list of World Billionaires.

Mr. Shin has earned his estimated net worth of $1.64 billion when he took over the position from father, Shin Kyuk-Ho, who founded the company and still the Chief Chairman. The group, which is known for its production of sweets and ice cream, has expanded rapidly overseas. Its department stores were opened in new locations including Tianjin, China and Jakarta. In 2011, Lotte Mart, which is one of the largest discount-store chains in South Korea, has opened its 200th global location in China. It will also open a store in Hanoi, Vietnam where it has operated through its fastfood chain, Lotteria, way back in 2002.

Aside from actively working on the expansion of the group, Shin Dong-Bin is also managing several other businesses including management of golf courses and hotels. He is married with three children.