NEWS
Familiar Name Tops 2021 Forbes Malaysia Rich List, Several Big Names Dropped As Well
The 2021 Forbes Malaysia Rich List has revealed that the country’s 50 richest people saw their collective wealth rebounded 14 per cent to nearly US$90 billion (RM371 billion) this year.
Despite the pandemic, that’s a US$79 billion increase!
According to a report by Malay Mail quoting a statement from Forbes, the increase is due to Malaysia’s dominant position as the medical glove maker to the world.
“Malaysian exports of rubber gloves doubled, boosting the wealth of the nation’s largest producers.
“Five of them feature among the 50 richest, with two, Kuan Kam Hon (No. 7, US$3.8 billion) of Hartalega Holdings and Lim Wee Chai (No. 8, US$3.5 billion) of Top Glove, ranked in the top ten.”
Business magnate who presides over a property and commodities empire Robert Kuok, who has a net worth of US$12.2 billion, tops the list.
He is followed by Quek Leng Chan, second-generation head of Hong Leong group, who has a net worth of US$9.6 billion.
Koon Poh Keong, who shares a metals fortune with four siblings from their Press Metal Aluminium Holdings was ranked third with a net worth of US$6.4 billion.
Several newcomers to list
Business mogul and chairman of Usaha Tegas Ananda Krishnan came in fourth with a net worth of US$5.8 billion, followed by Teh Hong Piow, founder and Chairman of Public Bank Berhad at US$5.5 billion.
Brothers Lee Yeow Chor and Yeow Seng who have stakes in IOI group, were ranked at the sixth place with a net worth of US$4.9 billion, while NagaWorld’s Chen Lip Keong came in ninth with a net worth of US$3.4 billion.
Tan Yu Yeh and Yu Wei, or better known as the Tan brothers of MR DIY Group came in tenth this year with a net worth of US$2.7 billion.
The list also added four newcomers including cofounder of Greatech Technology Tan Eng Kee (No. 22, US$965 million), cofounders of engineering services firm UWC Ng Chai Eng (No. 37, US$450 million) and Lau Chee Kheong (No. 38, US$445 million), and cofounder of ViTrox, a maker of high-precision machine inspection systems Steven Siaw Kok Teng (No. 49, US$325 million).
Meanwhile, 19 listees have reduced fortunes due to the pandemic, including casino moguls Chen Lip Keong (No. 9, US$3.4 billion) and Lim Kok Thay (No. 11, US$2.55 billion).
“Seven from last year’s list dropped out, notably the AirAsia duo, Tony Fernandes and Kamarudin Meranun, as the ongoing pandemic dimmed hopes of a revival in travel,” read the statement.
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