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Forbes World s Billionaires 2021: Malaysia s super-rich sees surge of wealth amid Covid-19 times

- Advertisement - KUALA LUMPUR Malaysia’s “Sugar King” Robert Kuok remains the wealthiest man in Malaysia and even saw his estimated wealth increase to US$12.6 billion (RM51.9 billion) this year amidst the Covid-19 pandemic, according to Forbes’ annual World’s Billionaires List. The 97-year-old Hong Kong-based businessman however saw a rankings slip and is now the world’s 171st richest man compared to his position of 141 in 2020, and estimated net worth at the time which was valued at US$9.6 billion (RM41.6 billion). According to the  Forbes list, there are 16 billionaires in Malaysia, with Kuok listed under Hong Kong. Next on the list is Hong Leong Group’s Tan Sri Quek Leng Chan, 79, which was valued at US$9.7 billion (RM40 billion) compared to US$9.2 billion (RM39.9 billion) last year.

Four Malaysians make debut on Forbes billionaires list

co-founder and CEO Tan Eng Kee. In Forbes 35th annual list of the world s billionaires, brothers Tan Yu Yeh and Tan Yu Wei made their debut with estimated net worths of US$1.8bil and US$1.1bil respectively. The brothers have seen their fortunes soar following the initial public offering of MR DIY on Bursa Malaysia in October last year with a market capitalisation of RM10bil upon listing. Gnanalingam was included in the list with an estimated net worth of US$1.7bil while Tan Eng Kee became another of the world s US-dollar billionaires with an estimated net worth of US$1.1bil.

MR DIY brothers, Westports Gnanalingam, Greatech s Tan join Forbes Billionaires Club

Forbes billionaires list this year. Also new on the list is Greatech Technology Bhd co-founder and chief executive officer (CEO) Tan Eng Kee, with  Forbes estimating his wealth to be US$1.1 billion (about RM4.54 billion). The Penang-based company is a maker of factory automation equipment.  In Forbes estimated Gnanalingam’s net worth to be about US$1.7 billion.  It also estimated MR DIY’s Yu Yeh’s net worth to be about US$1.8 billion and Yu Weh at about US$1.1 billion.  Forbes noted that the brothers’ wealth comes from their respective stakes in the home improvement retail chain.  MR DIY, listed in October last year, has had the largest initial public offering (IPO) on Bursa Malaysia since 2017, with a market capitalisation of RM10 billion, raising approximately RM1.5 billion from both institutional and retail investors.

Forbes World s Billionaires 2021: Malaysia s super-rich sees surge of wealth amid Covid-19 times | Malaysia

Wednesday, 07 Apr 2021 11:15 AM MYT BY DANIAL DZULKIFLY ‘Sugar King’ Robert Kuok is now the world s 171st richest man compared to his position of 141 in 2020. File picture by Mukhriz Hazim Subscribe to our Telegram channel for the latest updates on news you need to know. KUALA LUMPUR, April 7 Malaysia’s “Sugar King” Robert Kuok remains the wealthiest man in Malaysia and even saw his estimated wealth increase to US$12.6 billion (RM51.9 billion) this year amidst the Covid-19 pandemic, according to Forbes’ annual World’s Billionaires List. The 97-year-old Hong Kong-based businessman however saw a rankings slip and is now the world s 171st richest man compared to his position of 141 in 2020, and estimated net worth at the time which was valued at US$9.6 billion (RM41.6 billion).

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