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

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

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

2. Quek Leng Chan

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

3. Tan Sri Paul Koon Poh Keong & siblings

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

4. Ananda Krishnan

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

5. YB Tan Sri Dato’ Sri 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

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

Tan Eng Kee

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

Ng Chai Eng

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

Lau Chee Keong

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

Steven Siaw Kok Tong

• 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.

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!

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