While our nation (along with many others around the world) has been hit by multiple misfortunes since 2020 — Covid-19, natural disasters and supply chain conundrums amongst a few of them — many resilient industrial players in Malaysia have shown their perseverance and proved that when the going gets tough, the tough gets going. Here are some of the richest people in Malaysia that made it to Forbes’ list for 2022.
While the global list is actually losing members, two Malaysian executives join 234 other newcomers from all corners of the globe. First is WTK Holdings Bhd director Wong Kie Chie with an estimated net worth of US$1.6 billion (that’s about RM6.7 billion) and founder and CEO of PMB Technology Bhd Koon Poh Ming with a net worth of US$1.3 billion (or about RM5.4 billion).
As Tesla and SpaceX founder Elon Musk topped this list for the first time ever — overtaking Jeff Bezos with an almost US$50 billion lead — these are the richest people in Malaysia to chart this list:
Tan Sri Robert Kuok
In the first place, we have the media-shy billionaire Tan Sri Robert Kuok. As of April 2021, the magnate is the wealthiest individual in Malaysia and 104th in the world. Founder of the prestigious Shangri-La Hotels and Resorts, he has his fingers in multiple pies.
The Kuok Group of Companies partakes in the business activities of industries from sugar cane plantations, sugar refineries, to oil and mining, with its property venture Kerry Properties making recent headlines for securing a land rights bid in a coveted Shanghai location for US$2.1 billion.
His current net worth is US$11.7 billion (about RM49.3 billion), US$500 million short of last year’s record.
Tan Sri Quek Leng Chan
Following behind the revered tycoon is Hong Leong Group co-founder Tan Sri Quek Leng Chan. His current estimated wealth is US$10.6 billion (about RM44.7 billion), so he’s seeing an uptick compared to the previous year’s record.
At the moment, this businessman is the executive chairman and executive officer of Hong Leong Group, overseeing the Malaysian operations of the group, while his cousin and fellow billionaire Kwek Lee Beng oversees the Singaporean operations.
Tan Sri Teh Hong Piow
Back in 1965, Tan Sri Teh Hong Piow founded Public Bank. The banker achieved that milestone at the age of 35, and now at 92, he’s Malaysia’s third-richest person. He’s received multiple accolades throughout his career, including the Greatest Malaysian Banker of All Time, awarded by the Asia Pacific Brands Foundation.
Currently, his estimated net worth is US$5.9 billion (approx. RM24.8 billion). He’s also one of only three individuals in the country that’s permitted to hold more than a 10% stake at a domestic financial institution.
Tan Sri Ananda Krishnan
This telecom magnate needs no introduction — Tan Sri Ananda Krishnan ranks fourth on this list, with an estimated net worth of US$5.7 billion, or RM24 billion.
His portfolio includes Maxis Communications, ASTRO, and MEASAT. He also owns stakes in Tanjong Public Limited Company, an investment holding company with subsidiaries involved in power generation, gaming, leisure and property.
Tan Sri Koon Poh Keong
Closing up the top five richest people in Malaysia is Tan Sri Koon Poh Keong, the group CEO of Southeast Asia’s largest integrated aluminium manufacturer Press Metal, rose from 727 to 523 on the billionaire’s list last year, with a net worth of US$5.2 billion (RM21.9 billion).
Featured and hero images credit: Sean Pollock/Unsplash
This story first appeared on Prestige Malaysia