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Meet Ananda Krishnan, The Visionary Behind Maxis, Astro, KLCC, & the Iconic Live Aid Concert
The passing away of Malaysian tycoon Tan Sri Ananda Krishnan has left a mark on many industries within Malaysia after having founded several widely known companies and emerging as one of Malaysia's richest men.
Besides founding massive corporations such as Maxis and Astro and having a hand in the oil and gas sector (Bumi Armada), real estate development and Tanjong Plc, which encompasses TGV Cinemas and leisure operations, he was also known for his philanthropic works and played a crucial role in financing global events like Live Aid while also consistently contributing to charitable causes, temples, educational institutions and other organisations.
Here's everything you need to know about Ananda Krishnan, who was once Malaysia's third wealthiest man, as Forbes reported.
Early life & personal life
Ananda was born in 1938 in Brickfields, Kuala Lumpur, and his lineage can be traced back to Sri Lanka. His academic journey began at Vivekananda Tamil School and the prestigious Victoria Institution in Kuala Lumpur.
He pursued a Bachelor's degree in Political Science and Economics at the University of Melbourne and earned an MBA from Harvard University.
His career began when he founded a consulting firm, MAI Holdings Sdn Bhd, before venturing into the oil and gas industry through Exoil Trading, where he secured exploration permits in various countries.
This led to the creation of a vast empire spanning multiple sectors, including telecommunications, media and satellite, oil and gas, leisure operations, and real estate development.
He was a Buddhist follower who once married a Thai princess. He had a son with her who is now a Theravada Buddhist monk in Thailand. Two daughters also survive him.
Despite his billionaire status, Ananda was a private person with a quiet demeanour and shunned media publicity.
Corporate moves
Ananda, who had a close relationship with former two-time prime minister Tun Dr Mahathir Mohamad, was made a founding director of national energy giant Petronas in the 1970s. He then established the investment holding company Usaha Tegas Sdn. Bhd in 1984.
Usaha Tegas Sdn Bhd's investments include significant shareholdings in various companies, such as Maxis Berhad, Astro Malaysia Holdings Berhad, MEASAT Broadcast Network Systems Sdn. Bhd, Astro Overseas Limited, Tanjong PLC, and TGV Cinemas Sdn. Bhd, Bumi Armada Berhad and many more.
Ananda, who founded Maxis Bhd on April 1, 1993, foresaw many milestones in the telecommunications company, which now ranks among the top 30 companies in Bursa Malaysia's FBM KLCI index and among the top three key industry players with more than 13 million customers.
In the 1990s, he expanded his multimedia empire by establishing satellite operator Measat. This operator runs the world-class MEASAT Teleport and Broadcast Centre in Cyberjaya and has a satellite footprint covering 130 countries. Later, he created the local broadcast giant Astro.
Other notable achievements
In addition to his corporate accomplishments, Ananda contributed to developing the iconic Petronas Twin Towers and the surrounding KLCC Suria property development.
Meanwhile, although it is little known, Ananda reportedly helped finance the 1985 Live Aid concert, the biggest and most significant concert of the year. The concert featured a phenomenal performance by rock band Queen and their frontman, Freddie Mercury.
According to an article by a Malaysian writer and festival organiser, Ananda, who was in the oil business then, was bored and decided to venture into something more exciting.
"He wants to broadcast sports and entertainment around the world, turning the earth into a 'global village' once heralded by the late futurist Marshall McLuhan," the article reads.
Ananda had read about Bob Geldof, the guy behind 1985's Live Aid concert, who in 1984 was looking to rope in artists to record 'Do They Know It's Christmas/Feed the World' to gather funds to assist victims of famine after watching countless news reports on shortage of food in Ethiopia.
"Instead of simply giving money to a charity, I wanted to invest it in someone who could raise large amounts, " Ananda said.
So, the Malaysian businessman contacted Bob to assist his organisation, The Band-Aid Trust. In 1985, Ananda contributed US$750,000 and a US$1 million letter of credit to bring the legendary Live Aid concert to life.
Helping those in need
Besides playing a crucial role in global events like Live Aid and leveraging media platforms to drive charitable initiatives, he consistently contributed to charitable causes, donating to temples, educational institutions and other organisations.
Ananda donated to education, the arts, sports and humanitarian causes in Malaysia through his company, Usaha Tegas, and its subsidiaries.
Other charitable works were through foundations such as Harapan Nusantara and the Yu Cai Foundation, which provides scholarships to local students and supports educational development.
In 2010, he was featured on the Forbes list of 48 Heroes of Philanthropy.
In short, Ananda's legacy is not just one of business success but also cultural and social influence. His ability to foresee and shape the future of various industries has left an indelible mark, inspiring future generations of entrepreneurs and leaders.
As we look back on his achievements, it is clear that Ananda's vision and determination have truly transformed the landscape of modern Malaysia and beyond.
Featured Image Credit: Business Times, The Star
Featured Image Credit: Business Times, The Star