The 10 richest billionaires in Malaysia in 2024 – net worths, ranked: from Genting Group CEO Lim Kok Thay and Shangri-La luxury hotel boss Robert Kuok, to Quek Leng Chan and Ananda Krishnan
- Malaysian billionaires have pieces of the pie among the world’s richest, from Ananda Krishnan’s telecoms billions to the Teh and Quek clans’ banking wealth in the multicultural Southeast Asian country
- Both Lim Kok Thay and Chen Lip Keong are in the gaming industry, while the Lees’ IOI empire specialises in palm oil; meanwhile, Chia Song Kun is the largest producer of fish paste in the region
Despite a staggering GDP last year at just 2.9 per cent in the last quarter of 2023, Malaysia’s economy is projected to expand as much as 4.3 per cent this year, according to the recently published “World Bank Malaysia Economic Monitor: Raising the Tide Lifting All Boats” report.
But the sluggish GDP over the past year has done little to dent the net worths of the country’s richest. According to Forbes, the collective fortune of the top 50 wealthiest families and individuals in Malaysia is estimated to be US$81.6 billion.
Here’s a look at Malaysia’s 10 richest families and individuals, and how they made their billions from diverse industries, including gambling, F&B, telecommunications and retail, according to Forbes.
10. Chia Song Kun & family
Combined net worth: US$1.8 billion
Patriarch Chia Song Kun co-founded QL Resources, specialising in seafood production. The family’s business has since expanded to include other food items, including palm oil and livestock feed. It is Southeast Asia’s largest producer of fish paste used to make imitation crabmeat and other faux seafood products.
9. Tan Yu Yeh, Tan Yu Wei and family
Combined net worth: US$1.9 billion
