Richest Man in Malaysia 2023 – Top 10 Billionaires

Richest Man in Malaysia 2023

Malaysia is a country with a rich and diverse economy, boasting numerous successful businesses and entrepreneurs. However, among the many success stories, there is one that stands out – the story of the richest man in Malaysia in 2023. This individual has amassed a fortune that is truly astounding, and his journey to the top is a testament to his perseverance, vision, and entrepreneurial spirit.

From humble beginnings, this individual has risen to become one of the most influential figures in Malaysia’s business landscape. With a keen eye for investment opportunities and an unwavering commitment to excellence, he has built a business empire that spans multiple industries and has a significant impact on the country’s economy. His wealth and influence are such that he has become a household name in Malaysia and a source of inspiration for aspiring entrepreneurs everywhere.

In this introduction, we have provided a glimpse into the remarkable achievements of the richest man in Malaysia in 2023, without revealing his identity. As we delve deeper into his story, we will explore the factors that have contributed to his success and the lessons that can be learned from his journey.

Top 10 Richest Man in Malaysia 

Here is the list of the Top 10 Richest Men in Malaysia for 2023. 

S.No	Richest Man	Networth
1	Robert Kuok	$11.8 billion
2	Quek Leng Chan	$10.1 billion
3	Ananda Krishnan	$5.2 billion
4	Koon Poh Keong	$4 billion
5	Chen Lip Keong	$2.8 billion
6	Dato’ Lee Yeow Chor	$2.8 billion
7	Lim Kok Thay	$2.3 billion
8	Wong Kie Chie	$1.8 billion
9	Lau Cho Kun	$1.7 billion
10	Syed Mokhtar AlBukhary	$1.6 billion

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1. Robert Kuok: $11.8 billion

Robert Kuok is a Malaysian business magnate and investor who has an estimated net worth of $11.8 billion. He was born on October 6, 1923, in Johor Bahru, Malaysia, and is widely regarded as the richest man in Malaysia. Kuok made his fortune in commodities, particularly in sugar, palm oil, and real estate.

He is the founder and Chairman of the Kuok Group, a conglomerate with interests in a wide range of industries, including agriculture, hospitality, logistics, and media. The group also owns the Shangri-La hotel chain, one of the world’s largest luxury hotel groups.

Kuok began his career in the family business and went on to establish his own company, the Kuok Brothers, which became one of the largest commodities trading companies in Southeast Asia. He expanded his business empire to include plantations, refineries, and mills, which allowed him to control the entire supply chain of palm oil and sugar production. In addition to his business ventures, Kuok is also a philanthropist and has donated millions of dollars to education and healthcare initiatives in Malaysia and China.

2. Quek Leng Chan: $10.1 billion

Quek Leng Chan is a Malaysian billionaire businessman with an estimated net worth of $10.1 billion. He was born on August 28, 1941, in Johor Bahru, Malaysia, and is the founder of the Hong Leong Group, one of Malaysia’s largest conglomerates with interests in banking, property development, and manufacturing. The Hong Leong Group is also involved in hospitality and owns the luxury hotel chain, The St. Regis.

Quek began his career in the banking industry and later expanded into property development, where he made his fortune. He acquired a significant stake in the Guoco Group, a Hong Kong-based conglomerate, and later became the Chairman of the group.

Under his leadership, Guoco expanded its operations to include property development, hotels, and financial services. In addition to his business ventures, Quek is also a philanthropist and has donated millions of dollars to educational institutions and charitable causes in Malaysia.

Quek is known for his low-profile and is often described as a reclusive figure. Despite this, he has built a business empire that spans across Southeast Asia and is one of the wealthiest individuals in Malaysia.

3. Ananda Krishnan: $5.2 billion

Ananda Krishnan is a Malaysian businessman and entrepreneur with a net worth of $5.2 billion. He is the founder and chairman of the Usaha Tegas Group, a company that has interests in a variety of industries, including telecommunications, media, and oil and gas. Krishnan has been one of the most successful businessmen in Malaysia for decades, and his investments have helped to shape the country’s economy.

Krishnan began his career in the oil and gas industry, working for a number of multinational companies before starting his own business. In the 1990s, he turned his attention to the telecommunications industry, investing in Maxis Communications, which later became one of Malaysia’s largest mobile phone operators. He also owns stakes in Astro, the country’s leading satellite television provider, and Aircel, one of India’s largest mobile phone operators.

Krishnan is known for his philanthropic efforts, particularly in the areas of education and healthcare. He has donated millions of dollars to various charities and foundations, and has established several educational institutions in Malaysia and other countries.

4. Koon Poh Keong: $4 billion

Koon Poh Keong is a Malaysian businessman with a net worth of $4 billion. He is the founder and chairman of Press Metal Aluminium Holdings, one of the largest aluminum smelting companies in Asia. Keong started his career in the construction industry, but soon turned his attention to the aluminum industry, founding Press Metal in 1986.

Under Keong’s leadership, Press Metal has grown into one of the most successful companies in Malaysia, with operations in several countries and a reputation for innovation and efficiency. The company is a major supplier of aluminum products to industries such as automotive, aerospace, and construction.

Keong is known for his focus on sustainability and environmental responsibility, and has invested heavily in technologies and processes that reduce the company’s carbon footprint. He has also been involved in several philanthropic initiatives, particularly in the areas of education and healthcare, and has established several charitable foundations in Malaysia and other countries.

5. Chen Lip Keong: $2.8 billion

Chen Lip Keong is a Malaysian businessman and investor who is best known for being the founder and CEO of NagaCorp Ltd, a casino and resort company based in Cambodia. Born in Malaysia in 1948, Chen Lip Keong started his career as a medical doctor before transitioning into business. He later obtained a PhD in pathology from Monash University in Australia.

Chen Lip Keong founded NagaCorp in 1995 and the company went public in 2006. NagaCorp operates the NagaWorld casino and resort in Phnom Penh, which has become one of the most popular entertainment destinations in Southeast Asia. The company also operates several other businesses in Cambodia, including hotels, restaurants, and real estate development.

Chen Lip Keong’s net worth is currently estimated at $2.8 billion, making him one of the richest men in Malaysia. He is known for his philanthropic efforts, particularly in the areas of education and healthcare.

6. Dato’ Lee Yeow Chor: $2.8 billion

Dato’ Lee Yeow Chor is a Malaysian businessman and the chairman of IOI Corporation Berhad, a multinational conglomerate that is involved in palm oil production, property development, and other industries. Born in Malaysia in 1958, Dato’ Lee Yeow Chor studied business and economics at the University of Nottingham in the United Kingdom before joining IOI Corporation in 1981.

Under Dato’ Lee Yeow Chor’s leadership, IOI Corporation has become one of the largest palm oil producers in the world, with operations in Malaysia, Indonesia, and other countries. The company also has interests in property development, hospitality, and other industries.

Dato’ Lee Yeow Chor’s net worth is currently estimated at $2.8 billion, making him one of the richest men in Malaysia. He is known for his philanthropic efforts, particularly in the areas of education and environmental conservation. In 2018, he announced a $20 million donation to the University of Nottingham to fund research and scholarships in the areas of sustainability and palm oil production.

7. Lim Kok Thay: $2.3 billion

Lim Kok Thay is a Malaysian billionaire and the current Chairman and Chief Executive Officer of Genting Group, a conglomerate involved in the leisure and hospitality industry. Born in 1947 in Kuala Lumpur, Lim Kok Thay is the second son of the late Tan Sri Lim Goh Tong, the founder of Genting Group.

After completing his studies at the University of London, Lim Kok Thay joined Genting Group in 1976 and worked his way up the ranks. He became the Chairman and Chief Executive Officer of the company in 2003, following the retirement of his father. Under his leadership, Genting Group has expanded its operations globally and has become one of the largest leisure and hospitality companies in the world.

Aside from Genting Group, Lim Kok Thay also serves as the Chairman of the Malaysian Investment Development Authority and as a member of the International Advisory Panel for the China International Economic Cooperation Association.

As of 2023, Lim Kok Thay has an estimated net worth of $2.3 billion, according to Forbes. Despite the COVID-19 pandemic impacting the leisure and hospitality industry, Genting Group has managed to weather the storm and is poised for growth in the future.

8. Wong Kie Chie: $1.8 billion

Wong Kie Chie is another Malaysian billionaire, with an estimated net worth of $1.8 billion, according to Forbes. He is the co-founder of Mamee-Double Decker, a food and beverage company known for its instant noodles and snacks.

Born in 1953 in Kuala Lumpur, Wong Kie Chie started his career in the food and beverage industry in the 1970s. In 1972, he co-founded Mamee-Double Decker with his partner, Pang Chin Hin. The company started out selling potato chips but eventually pivoted to producing instant noodles, which became a hit with consumers.

Under Wong Kie Chie’s leadership, Mamee-Double Decker has expanded its operations globally and has become one of the largest food and beverage companies in Malaysia. In 2007, the company was listed on the Malaysian stock exchange, Bursa Malaysia.

Aside from his role at Mamee-Double Decker, Wong Kie Chie also serves as a board member of the Malaysia-China Business Council and as the Chairman of the Malaysia-China Chamber of Commerce

Despite the COVID-19 pandemic impacting the food and beverage industry, Mamee-Double Decker has managed to stay resilient and is poised for growth in the future. The company has continued to innovate and introduce new products, such as its line of healthy snacks, to cater to changing consumer preferences.

9. Lau Cho Kun: $1.7 billion

Lau Cho Kun is a prominent Malaysian businessman and the founder of Hap Seng Consolidated Berhad, a leading conglomerate in the country. Born in 1934 in the town of Batu Pahat in the state of Johor, Lau started his career in the construction industry before diversifying into other areas such as property development, automotive, and financial services.

Lau’s wealth stems from his holdings in Hap Seng, which is involved in a wide range of businesses including plantations, property development, automotive distribution, and building materials. The company is listed on the Malaysian stock exchange and has a market capitalization of around $3.5 billion. In addition to his business interests, Lau is also known for his philanthropic activities, having donated millions of dollars to various charities and educational institutions in Malaysia.

10. Syed Mokhtar AlBukhary: $1.6 billion

Syed Mokhtar AlBukhary is another prominent Malaysian businessman and entrepreneur, with a net worth of $1.6 billion. He is the founder of the Albukhary Foundation, a charitable organization that focuses on education, healthcare, and poverty alleviation in Malaysia and other parts of the world.

Syed Mokhtar’s wealth comes from his diverse business interests, which include port operations, logistics, plantations, and property development. He is the founder of MMC Corporation Berhad, a leading infrastructure and utilities company in Malaysia, and also owns a significant stake in the national carmaker, Proton Holdings. Additionally, Syed Mokhtar has investments in several other companies, including Malakoff Corporation Berhad and DRB-Hicom Berhad.

Apart from his business activities, Syed Mokhtar is also known for his philanthropy and social initiatives. He has donated millions of dollars to various charitable causes, including the construction of mosques, hospitals, and schools. He is also actively involved in promoting entrepreneurship and education in Malaysia, and has set up several programs and initiatives to support these causes.

Who is the Richest Man in Malaysia?

Kuok Group is a conglomerate with a net worth of USD 12.2 billion, led by Robert Kuok, a 99-year-old Malaysian businessman who has been the richest in the country for a long time. Kuok studied at Raffles College, now the National University of Singapore, where he became friends with Lee Kuan Yew.

After World War II, Kuok started his journey in the business world by trading rice, sugar, and wheat flour in Johor Bahru with his company Kuok Brothers, which later became the Kuok Group. The group has diversified into real estate, hotels, and commodities.

Kuok’s sugar business was extremely successful in the early years, and at one point, he controlled 10 percent of the world’s sugar trade, earning the nickname “the Sugar King of Asia.” Today, much of his wealth is derived from his stake in Wilmar International, the world’s largest listed palm oil refiner, founded by Kuok’s nephew, Kuok Khoon Hong.

However, Kuok’s most well-known business is the Shangri-La Hotels and Resorts, a chain he started in Singapore in 1971, which celebrated its 100th hotel opening in Xiamen, China, in 2017. In 1973, Kuok moved to Hong Kong, where he founded Kerry Properties as the company’s office. The company is now run by his youngest son, Kuok Khoon Hua.

Kuok also owned the South China Morning Post (SCMP) for nearly 23 years before selling it to Jack Ma’s Alibaba Group for USD 266 million in 2016. It is widely believed that Kuok is the owner of History Supreme, the world’s most expensive yacht. Besides his successful businesses, Kuok is also a philanthropist who has been supporting causes aimed at fighting poverty and boosting education through the Kuok Foundation since 1970.

Malaysia’s Richest Men

Malaysia is home to many successful entrepreneurs and businesses, and the top 10 richest men in Malaysia in 2023 are a testament to this fact. These individuals have built empires that span multiple industries and have a significant impact on the country’s economy.

Robert Kuok, Quek Leng Chan, and Ananda Krishnan are among the wealthiest individuals in Malaysia and have made significant contributions to the country’s growth and development. Their success stories are a source of inspiration for aspiring entrepreneurs, and their philanthropic efforts have made a positive impact on society.

The future looks bright for Malaysia, and the success of these individuals is a testament to the country’s potential for growth and prosperity.

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