Malaysia is a country with a wealth of natural resources, diverse culture, and a booming economy, and it’s no surprise that there are some incredibly wealthy individuals who have contributed to the country’s growth and success. From diversified conglomerates to manufacturing and telecommunications, these titans of industry have amassed a fortune worth billions. Here are the top 15 richest Malaysians and a short introduction to each of them.
Here are the Top 15 Richest Malaysians
Robert Kuok – $11 B – Diversified
Robert Kuok, also known as the “Sugar King,” is the richest man in Malaysia. His wealth comes from a diversified portfolio of businesses including sugar production, shipping, real estate, and media.
Quek Leng Chan – $10.1 B – Diversified
Quek Leng Chan is the second richest man in Malaysia, with interests in banking, real estate, hotels, and more. He is the founder and executive chairman of the Hong Leong Group, a conglomerate with operations in over 20 countries.
He inherited part of his fortune from his father, one of three brothers who started a banking group in the 1920s.
Tan Sri Koon Poh Keong & siblings – $6.2 B – Manufacturing
Leading the charge at Press Metal Aluminium Holdings is Koon Poh Keong and his siblings, a family-run business that specializes in the production of high-quality aluminium products for a range of industries including aerospace, construction, and automotive.
Against the backdrop of a recession-stricken Malaysia in 1986, Koon Poh Keong and his four brothers banded together and channeled their collective resources of $50,000 to create an aluminium-extruding company, which has since evolved into Press Metal Aluminium Holdings.
Today, Press Metal Aluminium Holdings is a dominant player in Southeast Asia’s integrated aluminium industry, vying for market share with established names such as Rio Tinto, Russia’s Rusal, and the Aluminum Corp of China.
Teh Hong Piow – $5.7 B – Finance & Investments
Teh Hong Piow (deceased) is the founder of Public Bank, one of the largest banks in Malaysia. His wealth comes from his shares in the bank and other investments.
Ananda Krishnan – $5 B – Telecom
Ananda Krishnan’s wealth comes from his ownership of telecommunications companies Maxis Communications and Aircel. He also has an interest in the gaming and media industry.
Dato’ Lee Yeow Chor & Yeow Seng – $4.8 B – Food & Beverage
The Yeow brothers inherited their wealth from their father, who founded IOI Group, a multinational company that produces palm oil, property development, and more.
Chen Lip Keong – $2.7 B – Gambling & Casinos
Chen Lip Keong is the founder and CEO of NagaCorp, a company that operates casinos in Cambodia. His wealth has grown tremendously due to the booming gambling industry in Asia.
Tan Yu Yeh & Yu Wei – $2.4 B – Retail
Tan Yu Yeh and Yu Wei are siblings who have made a fortune through their ownership in Mr D.I.Y. Group, a popular home improvement retail chain that they founded in 2005.
In October 2020, the company went public on the Malaysian stock exchange, catapulting both brothers into the exclusive billionaire’s club. Today, their combined net worth is attributed to their significant stake in Mr D.I.Y., which has an extensive network of over 900 stores in Malaysia and Brunei.
Thanks to their innovative business model and strategic expansion efforts, Tan Yu Yeh and Yu Wei have become key players in the home improvement retail industry.
Tan Sri Lim Kok Thay – $2.35 B – Gambling & Casinos
At the helm of Genting Group is Lim Kok Thay, a seasoned business leader with interests spanning the global casino and resort industry, real estate, and power generation.
However, in January 2022, Lim was faced with a difficult decision when Genting Hong Kong, his struggling cruise operator, filed a winding-up petition in the wake of the pandemic’s devastating impact. In light of this challenge, Lim stepped down from his role as chairman of Genting Hong Kong. Putting the company’s future in uncertain waters.
Despite this setback. Lim’s leadership and expertise have been instrumental in propelling Genting Group to the forefront of the global hospitality industry. Under his guidance, the company has established a formidable presence in key markets around the world. Delivering world-class experiences to customers while remaining committed to sustainability and responsible business practices.
Lau Cho Kun – $2 B – Diversified
Lau Cho Kun’s wealth comes from his family’s investment holding company, Hap Seng Consolidated. The company has interests in plantations, property development, and automotive.
Kuan Kam Hon & family – $1.9 B – Manufacturing
Kuan Kam Hon founded Hartalega Holdings in 1988, transforming what started as a single-line production facility into the world’s leading nitrile glove producer, with a growing capacity to manufacture billions of gloves every year.
Although Hartalega Holdings experienced a period of rapid growth in 2020. the company saw its shares take a hit in 2021 due to a slump in demand for rubber gloves. Despite this setback, Kuan Kam Hon remains an influential mentor and spokesperson, providing guidance to his two sons who now run the day-to-day operations of the business.
Lee Oi Hian & Hau Hian – $1.6 B – Diversified
The Lee brothers inherited their wealth from their father, who founded the Batu Kawan Group. The conglomerate has interests in agriculture, property, and manufacturing.
Tan Sri G. Gnanalingam – $1.55 B – Logistics
G. Gnanalingam is the executive chairman of Westports Holdings, a company that operates Malaysia’s largest port. The group owns a 60-year concession to operate and expand its container terminals in Pulau Indah and Port Klang, which will end in 2054.
Lim Wee Chai – $1.4 B – Manufacturing
Lim Wee Chai is the founder and chairman of Top Glove, the world’s largest manufacturer of rubber gloves. Under his leadership, Top Glove has grown significantly, expanding its operations to several countries and acquiring other companies. In 2020, the COVID-19 pandemic created an unprecedented demand for rubber gloves, causing Top Glove’s stock price to surge and making Lim Wee Chai one of Malaysia’s richest individuals.
Syed Mokhtar AlBukhary – $1.31 B – Construction & Engineering
Syed Mokhtar AlBukhary is a self-made billionaire who started his career in the construction industry. He later expanded his business into various industries, including engineering, logistics, and agriculture. He is the founder of the Albukhary Foundation. A charity organization that provides education and healthcare services to underprivileged communities in Malaysia and around the world. The billionaire is active in philanthropic efforts and has donated millions of dollars to various causes, including COVID-19 relief efforts.
You might like Bernard Arnault is The World’s Richest Person