RICHEST PEOPLE IN MALAYSIA: BILLIONAIRES, FAMILIES, WEALTH, BUSINESSES

RICHEST PEOPLE IN MALAYSIA

1) Robert Kuok (US$13.6 billion to $14.2 billion): Diversified (Kuok Group/PP billion) (Forbes, as of April 2016]

2) Koon Poh Keong & Siblings (US$9.7 billion): Manufacturing (Press Metal Aluminium)

3) Lee Yeow Chor & Lee Yeow Seng (US$8.5 billion): Food & Beverage/Palm Oil (IOI Group)

4) Teh Siblings (US$7.7 billion): Finance & Investments (Public Bank)

5) Quek Leng Chan (US$7.5 billion to $7.6 billion): Diversified (Hong Leong Group)

6) Lee Thiam Wah (US$6.7 billion to $7.1 billion): Retailing (99 Speedmart)

7) Krishnan Family (US$6.5 billion): Diversified (Usaha Tegas)

8) Jeffrey Cheah (US$5.3 billion to $5.5 billion): Real Estate (Sunway Group)

9) Francis Yeoh & Siblings (US$4.1 billion): Construction/Engineering (YTL Corp)

10) Syed Mokhtar AlBukhary (US$3.5 billion to $3.6 billion): Construction/Engineering (Albukhary Group)

Forbes: Richest Malaysians in 2013 (Rank, Name, Net Worth, Age in 2013): 1) Robert Kuok — -$12.5 billion, age 89; 2) Ananda Krishnan — -$11.7 billion, age 75; 3) Lim Kok Thay & family — -$6.6 billion, age 61; 4) Teh Hong Piow — -$5.6 billion, age 83; 5) Quek Leng Chan — -$4.8 billion, age 69; 6) Lee Shin Cheng — -$4.5 billion, age 74; 7) Yeoh Tiong Lay — -$2.8 billion, age 83; 8) Syed Mokhtar AlBukhary — -$2.75 billion, age 61; 9) Tiong Hiew King — -$1.8 billion, age 78; 10) Vincent Tan — -$1.3 billion, age 61. [Source: Forbes]

Malaysia had 11 billionaires in 1995 according to Forbes. The top 12 tycoons in Malaysia lost $13 billion in stocks assets between March and September, 1997 after the stock market fell from 1 point below its all time high to a 30 year low during the the Asian financial crisis.

A ruling elite of 2,000 or so people, based primarily in Kuala Lumpur, call most of the shots for Malaysia and its economy, some say.

Malaysia’s Richest Man: Robert Kuok

Robert Kuok, from his Facebook page

Robert Kuok Hock Nien, widely known as Robert Kuok, has consistently been ranked as Malaysia’s richest individual. Over 100 years old, born on 1923 and was still alive in 2026, he is a Malaysian business magnate, investor, and philanthropist who has been based in Hong Kong since 1973. Over decades, he has built a vast business empire spanning commodities, real estate, shipping, and hospitality. [Source: Lee Hill-choi, South China Morning Post, March 24, 2020; Forbes, Wikipedia]

Robert Kuok was born on 6 October 1923 in Johor Bahru during the British colonial period, into a wealthy Malay Chinese family from Fuzhou (Hokchew). Named after Robert the Bruce, he was enrolled at an English-medium primary school by his father's English-speaking clerk. His father, Kuok Keng Kang (1893–1948), had left the Qing dynasty in 1909, arriving in Singapore from Fuzhou, now part of Fujian, China. Robert was the youngest of three brothers born to his parents. He grew up speaking his parents' Fuzhou dialect, as well as English, and later Japanese during the Japanese occupation of Malaya and Singapore in World War II. He studied at the English College in Johor Bahru for his secondary education, later attending Raffles Institution in Singapore, where he was in the same class as Lee Kuan Yew — the founding father of Singapore and the country's first prime minister.

Estimates of his wealth vary depending on the source. In 2023, Forbes placed his net worth at about $11.8 billion, while the Bloomberg Billionaires Index estimated it higher, at around $17.7 billion, ranking him among the world’s top 100 richest people. Earlier figures show similar levels of wealth, including about $11.5 billion in 2020 and $12.5 billion in 2013, when he was also listed as the wealthiest person in Malaysia.

Despite his global business reach, Kuok maintains Malaysian citizenship. He has been married twice and has eight children. His family remains closely involved in his business ventures, with his youngest son, Kuok Khoon Hua, taking on a leadership role as CEO and vice-chairman of Kerry Properties in 2019.

Robert Kuok's Businesses

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Kuok is the founder of the Kuok Group, a diversified conglomerate with interests in palm oil, shipping, property, and hotels. One of his most notable achievements was establishing the Shangri-La hotel chain, beginning with its first property in Singapore in 1971. The brand later expanded internationally, including a major hotel in Hong Kong’s Tsim Sha Tsui East waterfront.

Robert Kuok began his career in humble circumstances, working first as an office boy before entering business with financial support from relatives. During World War II, he worked as a clerk in the rice-trading division of Mitsubishi under the Japanese occupation of Singapore (1942–1945). The company, backed by the Kempeitai, controlled the rice trade in Malaya, and Kuok rose quickly to head the department. After the war, he applied the experience and contacts he had gained to his family’s business in Johor. [Source: Wikipedia]

Following his father’s death in 1948, Kuok and his brothers, along with a cousin, established Kuok Brothers Sdn Bhd in 1949, focusing on agricultural commodities. He maintained close business ties with Japanese partners after independence, notably forming Malayan Sugar Manufacturing in 1959 with Japanese collaborators. He also strengthened his position by bringing influential Malay elites, including politicians and royalty, into his company.

Kuok’s major breakthrough came in the sugar industry. In 1961, he secured low-cost sugar imports from India ahead of a global price increase and expanded aggressively into sugar refining. At his peak, he controlled about 80 percent of Malaysia’s sugar market, producing around 1.5 million tonnes—roughly 10 percent of global output—earning him the title “Sugar King of Asia.”

According to Forbes in 2012: Chinese Malaysian tycoon Robert Kuok made his money in sugar, palm oil, shipping and property. His Kuok Group boasts a huge network of companies under 3 main groups in Hong Kong, Singapore and Malaysia. Kuok's net worth is up $100 million compared with March 2012, thanks to newly-discovered assets in China's leading meat manufacturer, Yurun Food Group, and a slight rise in the share price of Hong Kong-listed Shangri-la Hotels and Kerry Properties. Biggest source of wealth is his stake in Wilmar, the world's largest listed palm oil company. But the stock weakened during the past twelve months as palm oil prices slumped. Wilmar is run by his nephew, Kuok Khoon Hong, a Singapore citizen who's also a billionaire thanks to his 10 percent stake in the company. Robert Kuok also controls the South China Morning Post, once the world's most profitable daily newspaper. ^=^

Palm Oil Billionaires in Malaysia

According to the 2026 Forbes Malaysia’s 50 Richest list, several of the country’s billionaires derive a substantial portion of their wealth from palm oil and related agribusiness activities. This reflects the central role of palm oil in Malaysia’s economy, particularly in plantation agriculture and global commodity trade. [Source: Forbes, South China Morning Post]

Among the most prominent figures is Robert Kuok, with an estimated net worth of about $13.6 billion as of April 2026. Widely regarded as Malaysia’s richest individual and often called “Asia’s Sugar King,” much of his wealth is linked to his stake in Wilmar International, the world’s largest palm oil processor, which he co-founded. His business interests also extend into shipping, property, and luxury hotels such as the Shangri-La chain.

Another major group of palm oil billionaires includes the brothers Lee Yeow Chor and Lee Yeow Seng, whose combined net worth is estimated at $8.5 billion. They inherited the IOI Group from their father, Lee Shin Cheng. Lee Yeow Chor leads IOI Corporation, which focuses on palm oil production, while Lee Yeow Seng heads IOI Properties, reflecting the group’s diversified holdings.

Lau Cho Kun, with an estimated net worth of $1.64 billion, is the largest shareholder in Hap Seng Consolidated, a diversified conglomerate with significant palm oil plantation operations, particularly in Sabah in East Malaysia. Similarly, Lee Oi Hian and Lee Hau Hian, with a combined wealth of around $1.6 billion, control Batu Kawan Berhad, a company heavily involved in palm oil plantations and oleochemical production.

Chia Song Kun, whose net worth is estimated at $2.1 billion, co-founded QL Resources. Although the company began as a fish paste producer, it has expanded into palm oil plantations and related activities, including livestock feed production, making it another key player in the sector.

Other influential figures in the palm oil industry include Kuok Khoon Hong, Robert Kuok’s nephew, who serves as chairman and CEO of Wilmar International and is often referred to as a “Palm Oil King” in global trade, although he is typically ranked among Singapore’s richest individuals. The family of the late Tiong Hiew King also maintains extensive interests in palm oil and timber through the Rimbunan Hijau group, further underscoring the importance of these industries in shaping regional wealth.

Rubber Glove Billionaires in Malaysia

The COVID-19 pandemic led to a dramatic surge in global demand for personal protective equipment, particularly rubber gloves, creating several new billionaires in Malaysia, which produces about 65 percent of the world’s supply. During 2020 and 2021, this once low-profile industry became one of the fastest-growing sectors globally. However, as pandemic demand eased in subsequent years, many of these fortunes declined alongside falling profits and share prices. [Source: Business Insider]

Among the most prominent figures is Lim Wee Chai, founder of Top Glove, the world’s largest rubber glove manufacturer. His wealth rose sharply during the pandemic, surpassing $2.5 billion in 2020, though it has fluctuated since. Kuan Kam Hon and his family, founders of Hartalega Holdings in 1981, also saw their fortune surge, reaching an estimated $3.8 billion to $4.8 billion at the peak of the boom. Similarly, Lim Kuang Sia and his siblings, who established Kossan Rubber Industries in 1979, became billionaires in 2020 as the company’s share price doubled.

Stanley Thai Kim Sim and Cheryl Tan, founders of Supermax in 1987, experienced one of the most dramatic rises, with their company’s share price increasing more than 400 percent in 2020. Wong Teek Son of Riverstone Holdings also joined the ranks of billionaires during this period, becoming one of the industry’s notable figures as share prices surged multiple times over.

These individuals are closely linked to Malaysia’s “Big Four” glove manufacturers—Top Glove, Hartalega, Kossan, and Supermax—which dominated global production during the pandemic. The boom also brought increased scrutiny, including U.S. import bans on some companies over allegations of forced labor. By 2026, although some of these entrepreneurs remain among Malaysia’s richest individuals, their net worths have declined significantly from the extraordinary highs reached during the peak pandemic years.

Cronies in Malaysia

Tajudin Ramli is a tycoon who was well-connected with the Mahathir government. He owned Malaysian Airlines and one of Malaysia’s largest cell phone companies for a while. Tajudin took out huge loans to fund his acquisitions. In the end his debts caught up with him and he was stripped of most everything he owned. In 2006, Tajudin Ramli accused ex–prime minister Mahathir Mohamad of pressuring him in 1994 to buy a large stake in Malaysia Airlines at above-market prices to help the government. Tajudin claimed the purchase—worth about $750 million—was not a normal business deal but a form of “national service,” allegedly arranged to offset losses at the central bank. He filed a lawsuit seeking roughly $3.7 billion in compensation, alleging a broader conspiracy involving government officials and state-linked companies. [Source: AFP, July 25, 2006] [Source: AP, July 7, 2006 |*|]

Tajudin said he agreed reluctantly after being assured verbally by Mahathir and then–finance minister Daim Zainuddin that he would be protected from financial losses. However, no written guarantees were made. After the 1997 Asian financial crisis, his companies collapsed under debt and were taken over by a state restructuring agency, while some assets were merged with government-linked firms. Although the government later repurchased his airline shares at the same above-market price, Tajudin argued he was ultimately harmed, especially after being pursued for additional debts.

The case drew attention to long-standing concerns about close ties between the government and selected Malay (bumiputra) businessmen, as well as issues of transparency and state intervention in business during the 1990s. Mahathir denied the allegations, stating he never instructed Tajudin to buy the shares and rejecting claims that the deal was forced.

Syed Mokhtar Al-Bukhary, who holds a monopoly on sugar and rice in Malaysia and is close to Prime Minister Najib and former prime minister Mahathir Mohamad, is regarded as Malaysia’s No. 1 crony even though he denies he is favoured by the government. Niluksi Koswanage of Reuters wrote: “The opposition has singled out ethnic Malay tycoon Syed Mokhtar Al-Bukhary as benefiting from a government programme to divest stakes in state-linked firms. Revenue in the nine months to December 2012 for Syed Mokhtar's DRB-Hicom conglomerate doubled to 9.7 billion ringgit ($3.2 billion) from the previous year after it bought national carmaker Proton for $411.9 million in early 2012 in a closed bidding process. [Source: Niluksi Koswanage, Reuters, May 2, 2013]

Syed Mokhtar was ranked as Malaysia’s 10th richest man in 2026, with a net worth of US$3.5 billion to $3.6 billion). He was also ranked 10th in 2013, with a net worth of $2.75 billion. According to Forbes his wealth is diversified, he is self-made and has five children. In 2013 he owned MMC Corp. and DRB-Hicomand was Malaysia’s largest private borrower. His companies own ports and an airport, as well as having interests in power, automobiles, construction, engineering and postal services. In December 2012, his fledgling telecoms company, Puncak Semangat, beat big players such as Maxis, which is owned by fellow billionaire Ananda Krishnan, to secure the largest portion of the spectrum for 4G services.

A Reuters survey of 16 Malay companies shortlisted for the civil works portion of the rail job shows a majority with strong links to UMNO, with half listed on the Kuala Lumpur exchange. Najib told Reuters in March 2013 he had made progress in improving transparency, but said there were certain federal government tenders carved out for "deserving" Malay companies. But Hanafee Yusoff, secretary general of the Malay Chamber of Commerce, said: "We need a government that helps all Malay entrepreneurs. The current government has the intention, but the problem is with the delivery."

Koon Poh Keong: Malaysia’s Second Richest Man

Koon Poh Keong and his siblings, with a combined net worth of about $9.7 billion in 2026, control Press Metal Aluminium Holdings, the largest integrated aluminum producer in Southeast Asia. The company has grown into a major regional player, competing with global giants such as Rio Tinto and China’s Aluminum Corporation. Koon serves as group CEO, while his brother Koon Poh Ming is executive vice chairman. [Source: Baidu Wiki, Forbes]

Koon’s path to success began under difficult circumstances. After graduating with a degree in electrical engineering from the University of Oklahoma, he returned to Malaysia during an downturn and struggled to find employment. He then teamed up with his brothers, pooling about $50,000 to start a small aluminum-extruding business in a rented factory in Puchong, Selangor. From these modest beginnings, Press Metal expanded steadily and was listed on the Malaysian stock exchange in 1993. Over time, the company evolved into a leading aluminum smelter in Southeast Asia, earning Koon the name “Aluminum King” of the region. His leadership helped transform the firm into a key supplier in global aluminum markets.

The family’s wealth has risen rapidly in recent years, driven in part by increasing aluminum prices and strong company performance. Their net worth climbed from around $3 billion in 2020 to $9.7 billion in 2026, with a sharp surge in valuation as Press Metal’s share price rose significantly.

Koon Poh Keong’s achievements have also brought wider recognition. In 2026, he and his siblings ranked among the wealthiest individuals in Malaysia and briefly topped some regional rich lists, becoming one of the first Malaysians since Robert Kuok to surpass 30 billion ringgit in wealth.

Lee Yeow Chor and Lee Yeow Seng

Lee Yeow Chor and Lee Yeow Seng, with a combined net worth of about $8.5 billion, control the IOI Group, a major Malaysian conglomerate with extensive interests in palm oil and property development. The brothers inherited their stakes from their father, Lee Shin Cheng, who built the business into one of the country’s leading corporate groups before his death in 2019. [Source: Forbes]

Lee Yeow Chor, the elder of the two, serves as group managing director and CEO of IOI Corporation, the division focused on palm oil production. He studied law at King’s College London and also plays a key role in the industry as chairman of the Malaysian Palm Oil Council. His younger brother, Lee Yeow Seng, who also trained in law, is the CEO of IOI Properties, overseeing the group’s real estate operations.

The IOI Group reflects the family’s diversified business strategy, combining plantation agriculture with large-scale property development. This dual focus has helped sustain the family’s wealth over time, even as commodity prices fluctuate.

Their father, Lee Shin Cheng, rose from modest beginnings on a rubber plantation to become one of Malaysia’s leading self-made billionaires, with an estimated net worth of $4.5 billion in 2013. Today, his sons continue to expand and manage the empire he established, maintaining the family’s position among Malaysia’s wealthiest.

Tey Siblings and Teh Hong Piow

The Teh siblings, with an estimated combined net worth of about $7.7 billion, are the heirs of banker Teh Hong Piow, whose fortune was built primarily through Public Bank. Founded in 1966, Public Bank grew under his leadership into one of Malaysia’s largest financial institutions, serving millions of customers not only domestically but also in markets such as Cambodia, China, Hong Kong, Sri Lanka, and Vietnam. In December 2024, the bank consolidated its holdings further by acquiring the stake previously owned by the Teh family in LPI Capital, an investment holding company. [Source: Lee Hill-choi, South China Morning Post, March 24, 2020; Forbes]

Teh Hong Piow, who passed away in December 2022 at the age of 92, was one of Malaysia’s most prominent self-made bankers. Born in Singapore, he began his career in banking at just 20 years old and rose quickly through the ranks before establishing Public Bank in his mid-30s. Over several decades, he led the bank’s expansion into a major regional player with hundreds of branches and thousands of employees. He stepped down as non-executive chairman in 2019 after more than four decades at the helm.

Throughout his career, Teh accumulated significant wealth, with an estimated net worth of $4.85 billion in 2020 and about $5.6 billion in 2013, when he ranked among the richest individuals in Malaysia. He also held substantial stakes in related businesses, including LPI Capital. Today, his legacy continues through his children, who inherit both his wealth and his influence in Malaysia’s banking sector.

Quek Leng Chan

Quek Leng Chan, with an estimated net worth of about $7.5–$7.6 billion, is a leading Malaysian tycoon whose wealth is built on the diversified Hong Leong Group. Based in Kuala Lumpur, he serves as executive chairman and oversees a wide-ranging business empire with interests in financial services, property development, hotels, and manufacturing. The group also holds significant stakes in major companies, including Guoco Group, Hong Leong Financial, and Hong Leong Industries. [Source: Lee Hill-choi, South China Morning Post, March 24, 2020]

Trained as a barrister, Quek inherited part of his family’s fortune and expanded it into a major regional conglomerate. The business traces its origins to a banking enterprise founded in the 1920s by his father and uncles. While Quek manages the Malaysian operations, his cousin Kwek Leng Beng oversees the group’s Singapore-based businesses, reflecting the family’s cross-border corporate structure.

Over the years, Quek has maintained a strong presence in regional finance and property markets, with investments extending across Southeast Asia and beyond. Although his net worth has fluctuated—reaching about $9.7 billion in 2020—he remains one of Malaysia’s wealthiest individuals and a key figure in the country’s corporate landscape.

Ananda Krishnan

Ananda Krishnan (1938–2024), often known as A.K., was a prominent Malaysian businessman and philanthropist whose wealth has been built across telecommunications, media, and oil-related services. A graduate of Harvard Business School, he is widely recognized for both his dealmaking skills and his charitable activities. Through his investment company, Usaha Tegas, he has supported initiatives in education, the arts, sports, and humanitarian causes, and he also founded the Yu Cai Foundation to provide scholarships and funding for educational institutions. [Source: Lee Hill-choi, South China Morning Post, March 24, 2020; Forbes]

A self-made billionaire of Sri Lankan origin, Krishnan has consistently ranked among Malaysia’s wealthiest individuals. Known for his discretion, he has kept much of his personal life out of the public eye. He was born in 1938 in Brickfields, Kuala Lumpur, to Tamil parents with roots in Jaffna, Sri Lanka. As a Colombo Plan scholar, he studied for a B.A. (Hons) degree in political science at the University of Melbourne in Australia. During this period, he lived in the Melbourne suburb of Hawthorn. He then obtained an MBA from Harvard Business School, graduating in 1964. A follower of Buddhism, Krishnan had three children: two daughters and a son. His son, Ven. Ajahn Siripanyo, is a Theravada Buddhist monk. Ananda Krishnan died in 2024,

The Krishnan’s family business empire includes major stakes in companies such as Maxis, one of Malaysia’s leading mobile operators, Astro Malaysia Holdings, a major pay-TV provider, and offshore services firm Bumi Armada. Earlier in his career, Ananda was involved in oil trading before expanding into telecommunications and media, building a diversified portfolio that made him one of Malaysia’s richest individuals. His net worth has fluctuated over time, reaching about $5.9 billion in 2020, though it was significantly higher in earlier years.

Despite maintaining a relatively low public profile, the Krishnans have been linked to several high-profile business and political controversies. These include questions surrounding deals involving his companies and connections to the broader 1MDB scandal, although such associations have remained indirect. His business ventures have also faced challenges, notably the collapse of his Indian telecom investment, Aircel, which filed for bankruptcy in 2018 after receiving substantial financial backing.

Over the years, Krishnan has been involved in major corporate transactions, including efforts to restructure and expand Maxis into international markets such as India and Indonesia. He has also divested key assets, including the sale of energy holdings through Tanjong Energy in a multibillion-dollar deal. While some of these transactions attracted political scrutiny, they also underscored his role as a major player in regional business.

Chen Lip Keong and Francis Yeoh and Family

Chen Lip Keong is a Malaysian-born businessman and the founder, CEO, and driving force behind NagaCorp, a major casino and hospitality group based in Cambodia. With an estimated net worth of about $5.3 billion in 2020, he built his fortune across gaming, property, and energy. Originally trained as a medical doctor in general practice, Chen later transitioned into business and secured his first casino license from the Cambodian government in 1994. This license granted his flagship development, NagaWorld in Phnom Penh, a long-term monopoly on casino operations in the capital—extending to 2045, with the license itself running until 2065. [Source: Lee Hill-choi, South China Morning Post, March 24, 2020]

NagaCorp became the first casino company from Cambodia to be listed on the Hong Kong stock exchange, marking a major milestone in its expansion. Chen subsequently developed Naga2, a large twin-tower complex connected to NagaWorld by the underground NagaCity Walk shopping and entertainment corridor. Over time, he has transformed the company into one of Southeast Asia’s leading gaming operators, and he now resides in Cambodia while maintaining Malaysian citizenship.

Another prominent Malaysian business figure is Francis Yeoh, executive chairman of YTL Corporation, with an estimated net worth of about $1.7 billion in 2020. He leads a diversified conglomerate with interests in construction, energy, utilities, and real estate. Under his leadership, YTL has expanded internationally, including ownership of PowerSeraya, Singapore’s second-largest power plant, and major hotel properties such as the Ritz-Carlton in Kuala Lumpur. [Source: Forbes]

Francis Yeoh inherited the business from his father, Yeoh Tiong Lay, who founded YTL as a construction firm in 1955. The company has since grown into a global enterprise with operations in multiple countries, including utilities in the United Kingdom and property investments in Australia. In recognition of his contributions to strengthening UK–Malaysia relations, Yeoh was awarded an honorary knighthood by Queen Elizabeth II, allowing him to be known as “Sir” Francis Yeoh.

Some of Malaysia’s Richest in the 2010s

Lim Kok Thay & family — - Net Worth: $6.6 B As of February 2013; Age: 61; Source of Wealth: gaming; Country of Citizenship: Malaysia; Education: University of London; Marital Status: Married; Children: 3; Forbes Lists: No. 3 On Malaysia’s 50 Richest list in 2013; No. 16 in 2012. Profile: Lim Kok Thay is the son of late casino magnate Lim Goh Tong runs Genting Group (See Genting Under Recreation), which boasts resorts and casinos in Malaysia, Singapore, Hong Kong, the Philippines and the U.K., and a 43 percent stake in Norwegian Cruise Line. Plans for a convention center and vast expansion of its booming casino in New York City fell apart in June. Shares fortune with 82-year-old mother, Lee Kim Hua, and other family members. Last year the bulk of this wealth was listed under her name; now the proceeds of the estate have apparently been distributed. [Source: Forbes ^=^]

Tiong Hiew King — - Net Worth: $1.8 B As of March 2013; Age: 78; Source of Wealth: timber, self-made; Country of Citizenship: Malaysia; Marital Status: Married; Children: 4; Forbes Lists: No. 831 Among billionaires worldwide; No. 8 in Malaysia; No. 854 in 2012. No. 9 In Malaysia in 2012. Profile: Malaysian timber tycoon Tiong Hiew King's Oregon Group is involved in forestry and property development in New Zealand and in designing and making plastic containers for kitchens. Now investing in a big way in oil-and-gas exploration in China, Malaysia and Myanmar through Singapore-listed RH Petrogas; he's increased his stake to 40 percent. Also owns 7 Chinese-language newspapers and 30 magazines. Shares of his Chinese Media International rose 40 percent over the past year on lower newsprint costs and higher ad revenues. ^=^

Vincent Tan — - Net Worth: $1.3 B As of March 2013; Age: 61; Source of Wealth: diversified, self-made; Country of Citizenship: Malaysia; Marital Status: Married; Children: 11; Forbes Lists: No. 1107 Among billionaires worldwide; No. 9 in Malaysia; No. 1015 in 2012. No. 10 In Malaysia in 2012. Profile: Vincent Tan urned over the chairmanship of his conglomerate Berjaya Group to son Robin, who is also chief executive. Berjaya Corp. shares lost ground as uncertainly in an election year bedeviled two of its main industries, property and gaming. In August it opened the first RadioShack store in Kuala Lumpur and plans 1,000 more in Southeast Asia over 10 years. Won approval to list its lottery operator, Sports Toto, in Singapore. Property arm is developing a $3.5 billion resort in South Korea's Jeju Island. Tan got his start working as a bank clerk and insurance salesman but his break came at the age of 29 when he bought his first McDonald's franchise. He caused a stir last summer when he changed the jersey colors of his Cardiff Football Club from blue to red with a new dragon crest. He recently signed the Giving Pledge, committing to donating half his wealth during his lifetime. ^=^

Tan Heng Chew & family — - Net Worth: $1.2 B As of February 2013; Age: 67; Marital Status: Married; Forbes Lists: No. 11 Malaysia's 50 Richest. Profile: Tan Heng Chew's late father was one of group of brothers who founded car distributor in 1957. Grew into Tan Chong Motor Holdings and now assembles motor vehicles, manufactures parts and trades industrial equipment and consumer goods. Exclusive distributor for Nissan, Renault in Malaysia. Subsidiaries in Vietnam, Laos. Executive chairman shares fortune with family, including brothers Tan Eng Soon and Tan Eng Hwa. ^=^

Shahril & Shahriman Shamsuddin — - Net Worth: $1.05 B As of February 2013; Source of Wealth: oil & gas; Country of Citizenship: Malaysia; Forbes Lists: No. 12 On Malaysia’s 50 Richest list in 2013; No. 13 in 2012. Profile: The Shamsuddin brothers crack $1 billion mark for first time. Their father, Shamsuddin Kadir, who founded the Sapura Group and named it after his late wife, sued the sons last year, demanding return of shares and properties valued at $150 million. (Update: The family reports that it has resolved the matter out of court.) Group completed merger of SapuraCrest and Kencana Petroleum, run by Mokhzani Mahathir (No. 15), in $3.7 billion deal. Elder brother is chief executive, president of SapuraKencana; younger brother sits on board. ^=^

Lee Oi Hian & Lee Hau Hian — - Net Worth: $1 B As of February 2013; Age: 62; Source of Wealth: diversified; Country of Citizenship: Malaysia; Marital Status: Married; Children: 4; Forbes Lists: No. 14 On Malaysia’s 50 Richest list in 2013; No. 11 in 2012. Profile: Lee brothers' fortune fell by $100 million as palm oil glut caused shares of their Batu Kawan to dip. Younger brother Lee Hau Hian is managing director. Lee Oi Hian, the older one, is nonexecutive chairman and also chief executive of listed plantation subsidiary Kuala Lumpur Kepong. In January they invested in Johor real estate with the son of a Singapore billionaire. ^=^

Kamarudin Meranun — - Net Worth: $635 M As of February 2013; Age: 51; Source of Wealth: airlines; Country of Citizenship: Malaysia; Marital Status: Married; Children: 5; Forbes Lists: No. 20 On Malaysia’s 50 Richest list in 2013; No. 19 in 2012. Profile: Kamarudin Meranun runs AirAsia with Tony Fernandes (No. 21) and owns 11 percent. Also invests in virtually all of group's other ventures, which include longhaul discount carrier AirAsia X; hotel, mobile phone, education, insurance and automaking businesses; and a Formula 1 racing team and a soccer club. AirAsia plans to start a budget airline in India with the Tata Group. ^=^

Anthony Fernandes — - Net Worth: $625 M As of February 2013; Age: 49; Source of Wealth: airlines; Country of Citizenship: Malaysia; Marital Status: Married; Children: 2; Forbes Lists: No. 21 On Malaysia’s 50 Richest list in 2013; No. 15 in 2012. Profile: Tony Fernandes took over AirAsia, region's largest budget airline, in 2001 with partner, Kamarudin Meranun (No. 20), and used it as a base to build a conglomerate. See AirAsia

Image Sources: Wikimedia Commons

Text Sources: “Encyclopedia of World Cultures Volume 5: East/Southeast Asia:” edited by Paul Hockings; 1993; New York Times; Washington Post; Los Angeles Times; Smithsonian magazine; Encyclopedia.com; National Geographic; Live Science; Malaysia Tourism websites; Malaysia government websites; UNESCO; Metropolitan Museum of Art; Natural History magazine; Times of London; Library of Congress; The Conversation; The New Yorker; Time; BBC; CNN; Reuters; Associated Press; AFP; Lonely Planet Guides; Google AI; Wikipedia; The Guardian and various websites; books and other publications.

Last updated May 2026