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Forbes: Despite The Pandemic, These Malaysian Billionaires Saw An Increase In Their Wealth


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Source: Forbes & The Edge Markets & hustleaim

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Ever since the pandemic struck us all, many countries including Malaysia have suffered from economic uncertainties. Many have suffered through the pandemic, losing their businesses and livelihoods.

But despite the uncertainties, Forbes has reported that there is an increase of 14%, up to RM380.9 billion in terms of the nation’s 50 richest’s wealth combined. The increase may be associated with the doubled shipments in the rubber glove industries, as global demand for the protective gears is surging in this pandemic era, hence the boost.

Here’s a list of some of the wealthiest Malaysians who made it into the Forbes list for this year.


1.Robert Kuok

Old Man Sitting On Chair Robert Kuok

  • Age: 97
  • Industry: Palm oil, shipping, property.
  • Net Worth: RM49.9 billion


2. Quek Leng Chan

Quek Leng Chan

  • Age: 80
  • Industry: Banking, property.
  • Net Worth: RM39.8 billion


3. Tan Sri Paul Koon Poh Keong & siblings

Paul Koon Poh Keong

  • Age: 60
  • Industry: The aluminium business
  • Net Worth: RM27 billion


4. Ananda Krishnan

Ananda Krishnan

  • Age: 83
  • Industry: Telecoms, media, oil-services.
  • Net Worth: RM23 billion


5. YB Tan Sri Dato’ Sri Teh Hong Piow

Teh Hong Piow

  • Age: 91
  • Industry: Banking
  • Net Worth: RM21.6 billion


In the meantime, Forbes also welcomes 5 newcomers to this year’s list. Aside from Tan Yu Yeh, the other 4 new entrants are based in Penang, one of the most thriving tech spots that gain benefits from the trades involving the United States and China.


Tan Yu Yeh

Tan Yu Yeh

  • Age: 50
  • Industry: Home improvement retailing
  • Net Worth: RM11.4 billion


Tan Eng Kee

Tan Eng Kee

  • Age: 51
  • Industry: Factory automation equipment
  • Net Worth: RM5.5 billion


Ng Chai Eng

Ng Chai Eng

  • Age: 57
  • Industry: Engineering services
  • Net Worth: RM1.9 billion


Lau Chee Keong

Lau Chee Keong

  • Age: 58
  • Industry: Engineering services
  • Net Worth: RM1.8 billion


Steven Siaw Kok Tong

Steven Siaw

  • Age: 49
  • Industry: Electronics
  • Net Worth: RM1.3 billion


Last but not least, due to the pandemic, some of the wealthiest also saw a downfall in the respective industries and subsequently in their fortunes as well. The casino and aviation industries are among the worst affected industries as both involve massive crowds in one place. While Chen Lip Keong and Lim Kok Thay still secure their spots on the list, unfortunately, Tony Fernandes and Kamarudin Meranun dropped out of the list as their net worth declined.


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From left to right,

Chen Lip Keong

  • Age: 74
  • Industry: Casinos, property,
  • Net Worth: RM10 billion

Lim Kok Thay

  • Age: 69
  • Industry: Casino
  • Net Worth: RM10.5 billion

Tony Fernandes

  • Age: 57
  • Industry: Aviation
  • Net Worth: RM1.4 billion (as of 2020)

Kamarudin Meranun

  • Age: 60
  • Industry: Airlines
  • Net Worth: RM 1.3 billion (as of 2020)


There you have it, Malaysia’s richest! If you can’t help but feel somewhat jealous, don’t worry, you’re not alone.  Let us know in the comments below!


Also read: Did You Know That This Gorgeous Damansara Home Was Used In Crazy Rich Asians?

Adobe 20200419 135109

Source: Forbes
Source: Legacy Times
Source: iNews
Source: Forbes
Source: The Star
Source: Vitrox

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