Top 10 richest Malaysians in 2014: Malaysia now boasts a total of eighteen billionaires, up from fourteen a year ago! Let's now take a look at the ten of the richest locals in 2014. As many Malaysians are well aware of, our country is going through a period of lows; our currency, the Ringgit, is weakening, we are experiencing a slowing economy and a lackluster stock market. All these come together to affect those who are earning a regular salary. But all of it is probably nothing more than an extra shrug from the guys on this list – if at all. In fact, some of those on the Forbes’ Malaysia’s Richest Tycoon list (ie the richest Malaysians, as of March 2014) have seen their fortunes increase as well, due to shrewd business decisions (amongst other things) despite economic conditions. Malaysia now boasts a total of eighteen billionaires, up from fourteen a year ago! Let’s now take a look at the ten of the richest locals in 2014. Source: Forbes’ Malaysia’s 50 Richest List Number 10: Tan Sri Dato Seri Vincent Tan Chee Yioun Age: 62 Estimated Net Worth: $1.6 billion (~ RM5.3 billion) Main Company: Berjaya Corporation Berhad Source of Wealth: Diversified, Self Made Tan Sri Dato’ Seri Vincent Tan earned all his riches with his conglomerate and private businesses that deal with property to lotteries, to food and beverages. Starting off as a bank clerk and insurance salesman, he purchased his first McDonald’s franchise and that’s when things kicked off for the ambitious young man. Fun fact! Tan Sri Vincent Tan is also a majority shareholder in the Welsh Cardiff City Football Club (which plays in the English Premier League) as well as the Bosnian Football Club Sarajevo (one of the most successful clubs in the country). While he is up on this year, he is still only tenth on the list of richest Malaysians! Number 9: Tan Sri Datuk Sir Tiong Hiew King Age: 79 Estimated Net Worth: $1.8 billion (~ RM5.9 billion) Main Company: Rimbunan Hijau Group Source of Wealth: Timber, Media, Self Made With his privately held company, the Rimbunan Hijau Group, Tan Sri Datuk Sir Tiong Hiew King is dealing in not only timber (where his overseas timber operations in Papua New Guinea is the largest in that country), but also in media. Also known as the “Rupert Murdoch” of Chinese-language media, he is in the midst of forging a global Chinese publishing group with another one of his companies, the Ming Pao Enterprises. In Malaysia, two of the major Chinese national dailies that are controlled by Tan Sri Tiong is the Sin Chew Jit Poh and the Guang Ming Daily. Number 8: Tan Sri Dato’ Seri Dr. Yeoh Tiong Lay Age: 84 Estimated Net Worth: $2.7 billion (~ RM8.9 billion) Main Company: YTL Corporation Source of Wealth: Construction, Real Estate, Self Made If you have visited the Lot 10 Hutong food court located in the heart of KL before, you would probably already know that it was founded by Tan Sri Francis Yeoh (the eldest son of Tan Sri Dato’ Seri Dr. Yeoh Tiong Lay) who is also now running YTL Corporation, one of the biggest and most successful conglomerates in Malaysia. Its interests are mainly in the fields of construction, utilities, hotels, property development and technology. Fun fact! Tan Sri Dr Yeoh donated approximately RM36 million to King’s College London to set up the Yeoh Tiong Lay Centre for Politics, Philosophy & Law. Number 7: Tan Sri Syed Mokhtar Albukhary Age: 62 Estimated Net Worth: $3.1 billion (~ RM10.2 billion) Main Company: AlBukhary Corporation Sdn Bhd Source of Wealth: Diversified, Self Made Through his AlBukhary Corporation which operates as an industrial conglomerate, Tan Sri Syed Mokhtar Albukhary is dealing with a wide range of industries such as power plants, seaports, plantations (sugar and palm oil), car factories, rail works and defence supplies, to name but a few. His empire was one of the major beneficiaries in the government’s effort to privatise state assets and his subsidiary companies have even gained monopoly-like control over key sectors in Malaysia, including sugar mills, rice, power generation and ports. Number 6: Tan Sri Lee Shin Cheng Age: 75 Estimated Net Worth: $4.3 billion (~ RM14.2 billion) Main Company: IOI Corporation Berhad Source of Wealth: Palm Oil, Real Estate, Self Made Also known as the “tree-talker” due to his ability to “serenade and “talk” to the trees in his plantations in order to bear the quota of fruits, this tycoon is at the head of IOI Corporation Berhad, a palm oil and real estate development giant. Coming from humble beginnings (he was born and raised on a rubber plantation, where his father ran a small Chinese food shop), his happiest moment in life is when he bought up Dunlop Estate as they had turned him down when he sought employment with them in the late 1960s. The reason? He didn’t speak fluent English! Number 5: Tan Sri Teh Hong Piow Age: 84 Estimated Net Worth: $5.6 billion (~ RM18.5 billion) Main Company: Public Bank Source of Wealth: Banking, Self Made Now we’re down to the top 5 richest Malaysians in 2014. With three degrees and two PhDs to his name, Tan Sri Teh Hong Piow is one determined man who epitomises success. He started out as a mere bank clerk in the Overseas-Chinese Banking Corporation Ltd in 1950, climbed to the rank of officer in five years, then joined Malayan Banking Berhad as a Manager in 1960. By the tender young age of 34, he became a General Manager, but left in 1966 to set up Public Bank from scratch. Fun fact! Tan Sri Teh has managed to maintain his record of producing returns of nearly 20% a year for shareholders. Number 4: Tan Sri Quek Leng Chan Age: 71 Estimated Net Worth: $6.4 billion (~ RM21.1 billion) Main Company: Hong Leong Group Malaysia Source of Wealth: Banking, Real Estate, Inherited Having inherited a fortune from his father (one of three brothers), Tan Sri Quek Leng Chan went on to co-found the Hong Leong Group Malaysia in 1963, which now controls fourteen listed companies that are in various fields such as financial services, manufacturing, distribution, property and infrastructure development. In addition to that, his Guoco Group made the announcement in 2013 that there would be a portfolio of thirty high-end hotels built over the next decade under a new luxury brand, Clermont. Number 3: Tan Sri Lim Kok Thay & Family Age: 62 Estimated Net Worth: $6.5 billion (~ RM21.5 billion) Main Company: Genting Berhad Source of Wealth: Casinos, Inherited Being the second son of the late Tan Sri Lim Goh Tong (who is the founder of the Genting Group) means that we need not say more about his appearance on this list. Come on, who hasn’t heard of Genting Highlands by now? But a little bit of backstory wouldn’t hurt! Tan Sri Lim Kok Thay is the Chairman and CEO of Genting Berhad, a conglomerate which is involved in a myriad of sectors in Malaysia, some of which include leisure and hospitality (casinos are their speciality!), power generation, oil palm plantations and property development, to name but a few. Number 2: Tan Sri T. Ananda Krishnan Age: 76 Estimated Net Worth: $11.3 billion (~ RM37.3 billion) Main Company: Usaha Tegas Source of Wealth: Telecommunication, Self-made He has an entirely unassuming nickname of “A.K.” and prefers to maintain a low profile, but don’t let that fool you. Tan Sri Tatparanandam Ananda Krishnan is a force to be reckoned with, maintaining his position as the second richest tycoon in Malaysia! With a presence in media, satellite, oil and gas, to telecommunications and leisure, he has made it big in the “dog eat dog” world of business from his humble beginnings in Brickfields, Kuala Lumpur. Fun fact! His only son is a Buddhist monk in Thailand! Number 1: Tan Sri Robert Kuok Hock Nien Age: 91 Estimated Net Worth: $11.5 billion (~ RM 38 billion) Main Company: Kuok Group / Kerry Group Source of Wealth: Diversified, Self Made Maintaining his position as the richest Malaysian yet again, Tan Sri Robert Kuok made his money in the sugar (the main sector which earned him his wealth and also the nickname of the “Sugar King of Asia”), palm oil, shipping and property sectors. With a huge network of companies, his presence is felt in many countries, including Singapore, the Philippines, Thailand, Mainland China, Indonesia, Fiji and Australia. It is known that Wilmar International, the world’s largest listed palm oil company, is the main source of this tycoon’s wealth.

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