{"id":42589,"date":"2023-07-12T11:40:47","date_gmt":"2023-07-12T03:40:47","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=42589"},"modified":"2023-07-12T22:15:38","modified_gmt":"2023-07-12T14:15:38","slug":"richest-malaysian-billionaires","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/richest-malaysian-billionaires","title":{"rendered":"The Five Richest Malaysians In 2023, How Much Have Their Wealth Increased?"},"content":{"rendered":"

Forbes\u2019 Malaysia’s 50 Richest 2023 was released earlier last month and it is impressive as always.<\/p>\n

According to Forbes, despite the stock market dropping over 8% and the ringgit on a downward slide, these adverse market conditions had no impact on the combined wealth of Malaysia’s richest.<\/p>\n

In fact, the collective wealth of the 50 richest Malaysians increased to US$81.6 billion (\u2248RM379.3 billion)<\/p>\n

Who came out on the top five spots this year? And how much billions have they gained or lost? Let’s have a look.<\/p>\n

<\/span>What\u2019s the secret to their success?<\/strong><\/span><\/h2>\n

These billionaires have carefully laid out strategies and adhered to strict principles when they started out and even after they achieve great success.<\/p>\n

While some are self-made billionaires, there are also those that inherited their immense fortunes but keeping and growing their fortunes is not a job for the faint-hearted.\u00a0\u00a0There is no escaping outstanding work ethics and remarkable business principles when we take a closer look at Malaysia’s richest and how they got there.<\/p>\n

Perhaps we can all learn something from their work ethics and strategies to make career and business plans.<\/p>\n

Here<\/a>\u2019s the full list of Forbes\u2019 Malaysia\u2019s 50 Richest! <\/div><\/div><\/h4>\n

<\/span>1. Robert Kuok<\/strong><\/span><\/h2>\n

\u201cThere are risks in every business, if you are not brave enough to grab on the first or next opportunities then you shall be a poor person forever.\u201d<\/p><\/blockquote>\n

Robert Kuok is the richest man in Malaysia and he has been topping the list for nearly two decades now. With $11.8 billion<\/a> net worth, he is also #146 in Forbes\u2019 Billionaires 2023.<\/p>\n

He owns Kuok Group and his business ventures range from sugarcane plantations, sugar refineries, flour milling, animal feed, oil, mining, finance, hotel (Shangri-La Hotels and Resorts), property, trading, freight and publishing.<\/p>\n

The 99-year-old self-made billionaire has a Bachelor of Arts\/Science from Raffles College and started his journey in business as an office boy.<\/p>\n

<\/span>2. Tan Sri Quek Leng Chan<\/strong><\/span><\/h2>\n

\u201cIn other words, you must fall in love with the subject. But that is still not enough. You must have a vision and big dreams. You may not achieve the dreams to the degree you want, but if you keep at it, you will achieve a part of it.\u201d<\/p><\/blockquote>\n

Tan Sri Quek Leng Chan is the executive chairman of Hong Leong Co. (Malaysia) which is involved in finance, property, food, and manufacturing.<\/p>\n

Inheriting a part of his fortune, his net worth stands at $10.2 billion<\/a>. Apart from being #2 in Forbes\u2019 Malaysia\u2019s 50 Richest 2023, he was also #194 in Forbes\u2019 Billionaires 2023.<\/p>\n

The 78-year old is a qualified barrister-at-law from Middle Temple, UK and is known to run a tight ship when it comes to his business.<\/p>\n

<\/span>3. Tan Sri Koon Poh Keong & siblings<\/strong><\/span><\/h2>\n

\u201cBasically, we had to roll up our sleeves and always be there to operate equipment and all that. That was how we started. We learnt from scratch.\u201d<\/p><\/blockquote>\n

Together with his siblings, their net worth totals $5.8 billion<\/a>.<\/p>\n

In an interview with The Edge<\/a>, the billionaire said he literally started from zero knowledge in the aluminum business<\/p>\n

30 years on, he controls Southeast Asia’s largest integrated aluminum producer together with his brothers. Today, Press Metal Aluminum Holdings Bhd competes on a global scale with the likes of Rio Tinto and China’s Aluminum Corp.<\/p>\n

While he leads the billion dollar company in operations as the group chief executive, his brothers Poh Ming and Poh Weng are the executive vice chairman and executive director respectively.<\/p>\n

<\/span>4. Tan Sri Ananda Krishnan<\/strong><\/span><\/h2>\n

\u201cI have heard some people say I have a low profile. Why should somebody be high profile, anyway? I am just doing my job.\u201d<\/p><\/blockquote>\n

Known for his infallible sense of market timing, Tan Sri Ananda Krishan\u2019s net worth is $5.4 billion<\/a> making him #4 in Forbes\u2019 Malaysia\u2019s 50 Richest 2023 as well as #553 in Forbes\u2019 Billionaires 2023.<\/p>\n

His business ventures span across industries such as entertainment, sports, media, marketing, advertising and telecommunications. He is the chairman of Usaha Tegas Sdn Bhd and a stakeholder in Maxis and Bumi Armada.<\/p>\n

The 81-year old Harvard Business School graduate was born in Brickfields, Kuala Lumpur and is known to be a philanthropist. It goes without saying he keeps a low profile at all times.<\/p>\n

<\/span>5. Children of the late Tan Sri Teh Hong Piow<\/strong><\/span><\/h2>\n

\u201cIn any business, there should be no compromise on integrity and honesty as the success of any business depends largely on public confidence and trust.\u201d – Teh Hong Piow<\/p><\/blockquote>\n

The fortune of Public Bank founder Tan Sri Teh Hong Piow, who died in December 2022, is now listed under his children.<\/p>\n

Their combined fortunes made the number five spot with a net worth of $5.2 billion<\/a>.<\/p>\n

Along with Robert Kuok, the late Tan Sri Teh was a regular feature on the annual Forbes Billionaires list of top ten richest Malaysians. The legendary banker had started Public Bank in 1966 when he was 35 years old.<\/p>\n

He started his banking career as a clerk at the Oversea-Chinese Banking Corporation Ltd and had worked with Malayan Banking Berhad as a manager.<\/p>\n

This article was first published in March 2020 and has been updated for freshness, accuracy and comprehensiveness.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Hint: We are talking double-digit billions in net worth. <\/p>\n","protected":false},"author":1,"featured_media":42591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[312,271,248,258,256],"tags":[767],"class_list":["post-42589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-career","category-economy","category-entrepreneur","category-fame-fortune","category-lifestyle","tag-lifestyle"],"acf":[],"yoast_head":"\nWhat You May Not Know About Malaysia's Richest Billionaires<\/title>\n<meta name=\"description\" content=\"How much are they worth now? How did they get to the top of the list? 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