Home Business Kim Jung-ju, 2 trillion won ‘evaporation’ due to the sharp drop in Nexon stock… Additional losses are inevitable due to the bitcoin crash

Kim Jung-ju, 2 trillion won ‘evaporation’ due to the sharp drop in Nexon stock… Additional losses are inevitable due to the bitcoin crash

by news dir

[서울=뉴스핌] Reporter Kim Se-won = As Nexon stock price plummeted, Nexon founder Kim Jung-joo and NXC CEO Kim Jung-joo evaporated $1.9 billion (about 2 trillion won) of assets, Bloomberg News reported on the 28th (local time).

Previously listed on the Tokyo Stock Exchange, the stock price of Nexon has plunged 21% since its earnings announcement on the 12th when it predicted that its net profit would decrease in the future. According to the Bloomberg Billionaires Index, Kim’s fortune fell by $1.9 billion to $8.1 billion (about 9 trillion won).

The news agency reported that CEO Kim’s investment diversification strategy faced difficulties as virtual currency (cryptocurrency) also plummeted. Nexon bought 100 million dollars (about 111.5 billion won) worth of bitcoin last month. And Bitcoin is down about 38% from its peak last month.

Also, in 2017, before Nexon bought Bitcoin, NXC acquired a 65% stake in Kobit, a cryptocurrency trading site. NXC also acquired Bitstamp, a cryptocurrency exchange based in Luxembourg, in 2018.

Kim Jung-ju, CEO of NXC. [사진=넥슨]

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