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Person holding fan of U.S. dollars banknote. Photo by Alexander Grey. Unsplash

10 Wealthiest People from Malaysia

Malaysia, like any other country, has citizens who live in poverty and others who live very comfortable lives due to their wealth. The country is even home to multimillionaires and billionaires who have amassed wealth through professional success or inheritance.

Some of Malaysia’s wealthiest people have amassed their fortunes over many decades, while others have risen to prominence more quickly. Here are some of the richest Malaysians, as well as an overview of how they became wealthy.

1. Robert Kuok Hock Nien

He is a Malaysian business magnate and investor. Kuok has lived in Hong Kong since 1973. According to Forbes, his net worth as of April 2021 is estimated to be $12.6 billion, making him the wealthiest Malaysian and the 104th wealthiest person in the world.

According to the Bloomberg Billionaires Index, Kuok has an estimated net worth of $18.4 billion as of April 2019, making him the world’s 53rd richest person.

• Sugarcane plantations (Perlis Plantations Bhd),
• sugar refineries,
• flour milling,
• animal feed, 
• hotel (Shangri-La Hotels and Resorts),
• property (Kerry Properties),
• trading, freight (Kerry Logistics), and publishing are among his business interests (collectively known as the Kuok Group of Companies).

His most valuable asset is a stake in Wilmar International, the world’s largest publicly traded palm oil trader. 

2. Tan Sri Quek Leng Chan

Tan Sri Quek Leng Chan. Photo by Encik Tekateki.

Quek is a Malaysian tycoon who co-founded Hong Leong Group, Malaysia. He is one of Malaysia’s wealthiest men. Quek Leng Chan was ranked #217 on the Forbes World’s Billionaires list in 2018, with a net worth of $7.2 billion. Tan Sri Quek’s net worth is $9.9 billion as of February 16, 2021, and he is ranked 147th on Forbes.

He has extensive business experience in a variety of industries, including finance, manufacturing, and real estate. He is the executive chairman of:

• Hong Leong Industries Berhad (“HLI”),
• Hume Industries (Malaysia) Berhad (“HIMB”),
• Hong Leong Financial Group Berhad,
• GuocoLand (Malaysia) Berhad,
• Camerlin Group Berhad,
• and the chairman of Hong Leong Bank Berhad.

3. Ananda Krishnan

Ananda Krishnan is a Malaysian-Tamil businessman who serves as the Chairman of Usaha Tegas and the founder of the Yu Cai Foundation (YCF).  According to Forbes’ most recent annual list of wealthiest people, he is estimated to have a net worth of US$5.8 billion, making him the third-wealthiest person in Malaysia.

Krishnan’s first business was a Malaysian consultancy called MAI Holdings Sdn Bhd. He founded Exoil Trading, which went on to acquire oil drilling concessions in several countries. He later became involved in gambling (in Malaysia). Later he began diversifying into the multimedia arena in the early 1990s.

Krishnan is a shareholder in Tanjong Public Limited Company, an investment holding company with subsidiaries in power generation (Powertek), gaming (Pan Malaysian Pools), leisure (tropical islands, TGV Cinemas), and real estate.

The Central Bureau of Investigation of India sought arrest warrants for Ananda Krishnan, who was involved in financing the contentious 1MDB.

4. Teh Hong Piow

Amber Chia driving a special made cart into Public Bank Private Annual Awards Function, with Tan Sri Teh Hong Piow at the back. Photo by Tzarevitch36.

Teh Hong Piow is the Malaysian Founder, Chairman Emeritus, Director, and Adviser of Public Bank Berhad. Teh is one of only three people in Malaysia who can own more than 10% of a domestic financial institution. 

Forbes estimates his net worth to be US$4.7 billion, placing him as the 223rd richest person in the world and the 5th richest in Malaysia. 

5. Chen Lip Keong

Chen Lip Keong is a Malaysian businessman who was born on July 22, 1948, and is currently the 9th richest person in Malaysia. His career began as a general practitioner medical doctor.  Chen was the first to obtain a Cambodian casino license in 1994.

Chen is the CEO of NagaCorp, the parent company of the Phnom Penh-based NagaWorld casino resort complex. He also constructed Naga2, a twin tower. NagaCity Walk, an underground shopping mall, connects them. His current net worth is estimated to be 2.3 billion USD.

6. Lim Kok Thay

Malaysian ringgit. Photo by Gary Lee Todd, Ph.D..

Lim Kok Thay is a Malaysian Chinese businessman. He is the chairman of Genting Group, a casino, resort, and palm oil conglomerate.

Lim is the chairman and CEO of Genting Malaysia Berhad and Genting Berhad, also known as Genting Group. Genting Hong Kong Limited, formerly known as Star Cruises Limited, was co-founded by him. With a combined fleet of 18 ships and approximately 35,000 lower berths, Star Cruises and Norwegian Cruise Line were the world’s third-largest cruise operator in 2011.

He has a net worth of $2.7 billion. He owns a Boeing 777 private jet registered P4-XTL. Chrystal Aircruises is the company that owns the plane. He also owns a Gulf Stream G650 registered T7-LKT. His initials are LKT.

7. Koon Poh Keong

Aluminum foil ball-shaped. Photo by Teslariu Mihai. Unsplash

Koon Poh Keong and his four brothers founded Press Metal Aluminum Holdings in 1986. During Malaysia’s recession, the brothers pooled $50,000 to start the aluminum-extruding company. Press Metal is now Southeast Asia’s largest integrated aluminum producer, competing with Rio Tinto, Russia’s Rusal, and China’s Aluminum Corp.

Poh Keong is the group CEO, while Poh Ming is the executive vice chairman and Poh Weng is the executive director. His estimated net worth is 5.2 billion USD.

8. Lim Wee Chai

Lim Wee Chai. Photo by Wandawikey.

Rubber gloves have long been associated with the Top Glove Group of Companies. In fact, it is widely regarded as the company that reintroduced rubber into the mainstream after it had been a ‘raw material’ for many decades.

Lim Wee Chai is the company’s founder and chairman. He is currently ranked eighth among Malaysia’s wealthiest people (2021). Tan Sri Dr Lim has a lot of opportunities in this market because Malaysia is the top exporter and producer of rubber. Top Glove produces over 40 billion rubber gloves each year. This is accomplished through its 27 manufacturing facilities, which house 484 production lines.

Rubber gloves were the Malaysian tycoon’s main source of wealth, and they continue to be its primary revenue generator. His net worth is estimated to be $1.6 billion.

9. G. Gnanalingam

G. Gnanalingam is a well-known Malaysian businessman. He is the current executive chairman of West ports Malaysia, a leading port operator in Malaysia.

The Singapore-born businessman is of Sri Lankan Tamil ancestry and grew up in Port Dickson and Kuala Pilah. He joined the privately held port in 1994 and was instrumental in transforming it into Asia’s leading cargo and freight player.

Gnanalingam also has a stake in Pelikan, a pencil manufacturer, and Konsortium Logistiks, a logistics firm. His net worth is estimated to be $1.7 billion.

10. Syed Mokhtar Albukhary

Syed Mokhtar Albukhary is a Malaysian businessman, philanthropist, and entrepreneur. He founded the Albukhary Foundation, an international non-profit charity organization dedicated to social development. His net worth is estimated to be 1.2 billion USD