Can a mobile game make a person a billionaire?
This has become possible for the person who launched PUBG, one of the most popular mobile games in the world, which is preparing to come in a new incarnation after being banned in India.
Not only has the man behind PUBG become a billionaire, but he is also counted among the top 50 richest people in the country.
Many were surprised when Chang Byung-gyu was named one of South Korea’s 50 richest people, according to a list released by Forbes in 2019.
Chang Byung-Gyu owns the Bluehole Company, now known as Crafton. His company makes online games.
Blue Hall was founded by Chang Byung-gu in 2007, but it wasn’t until 2017 that he achieved the success he wanted.
However, between 2017 and 2019, something happened that made Chang Byung-gyu one of the 50 richest people in South Korea.
The PUBG game, which is considered to be the most popular game in the world, changed the fortunes of Chang Byung-gu in these two years.
The popularity of the PUBG game is a world record set by him in 2017, with pre-release sales of the game generating 100 million in just 79 days.
After being banned in India, PUBG is going to launch a new Indian incarnation soon under the name Battleground Mobile India.
Chang Byung-gyu is ranked 48th in the list of 50 richest people in South Korea released by Forbes in 2021 and has a net worth of 990 million or more than Rs 7,345 crore.
With the progress of Crafton and PUBG, Chang Byung-gu’s wealth was certain to increase.
His company is preparing to bring in an IPO next month and after that, he could also join the top 10 richest people in Korea.
Chang Byung-gu has a bachelor’s, master’s, and a Ph.D. degree from the Korea Advanced Institute of Science and Technology.
In 1997, he created the online chat community, which became popular among young people. After which he joined the South Korean army.
In 2005, he created a search engine called First Snow, which was sold to Never, South Korea’s largest search company.
He used the proceeds to open a firm called Venture Capital, and in 2007 he founded the game-making company Bluehole.
In 2011 the company launched an online game called Terra, but without success.
The company did not have much success until 2016, but Bluehole launched PUBG in 2017 and soon became the world’s most popular game. PUBG owes 94 percent of Krafton’s profits.
An exemplary model of the Crafton Company
Then Chang Byung-gyu’s fortune shone so brightly that he and his company became role models in South Korea. His company, Krafton, is preparing to launch South Korea’s largest IPO (Initial Public Offering).
Through this IPO, the company wants to raise 4. 4.9 billion, or more than Rs 36,000 crore.
Chang Byung-gu’s fortune is expected to rise sharply after the IPO, as he owns a 16 percent stake in the company.
According to the report, Chang Bang-gyu’s fortune is expected to reach 33 336 million after the IPO.
PUBG game ready in a year
The idea for the PUBG game came from Kim Chang Han, the current CEO (Chief Executive Officer) of Krafton.
In 2015, Chang Byung-gu bought several game studios, including Kim Chang Han’s studio. Kim later joined Crafton.
He said in an interview that PUBG had to wait for three months for approval. Chang Byung-gyu was skeptical about whether the game would be a success, as the game’s plot was quite different.
Shortly afterward, Chang Byung-gyu agreed and hired Ireland’s Brandon Green to create the game’s graphics.
Brendan joined Bluehole as Creative Director, within a year Kim, Brandon, and their team created the PUBG game.