Who Is Ananda Krishnan? Understanding The Man Behind The Telecommunications & Media Empire
The media mogul was key to Live Aid 1985 coming to life!
By Laila Zain — 29 Nov 2024, 12:10 PM
T Ananda Krishnan, one of Malaysia's most influential entrepreneurs, passed away peacefully on 28 November, at the age of 86
"It is with great sadness that we announce the demise of our chairman, T Ananda Krishnan, who passed away peacefully on 28 November.
"He has made significant contributions to nation-building and the corporate world, and his philanthropic initiatives have touched many lives. We humbly ask that the family's wishes to mourn in private be respected," read the statement by Usaha Tegas Sdn Bhd, Ananda's investment holding firm.
Known for founding Maxis and Astro, two of Malaysia's most recognisable brands, his business ventures reshaped the country's telecommunications and media industries. With a career spanning decades, his contributions extended beyond profit to philanthropy and nation-building.
Let's learn more about this incredible Malaysian.
Born in Brickfields, Kuala Lumpur, in 1938, Ananda came from a family of modest means
He went to school at the Vivekananda Tamil School of Brickfields and then continued his studies at the Victoria Institution of Kuala Lumpur. Ananda excelled in his studies and at just 17 years old, became the youngest Asian ever admitted to the University of Melbourne.
After earning a degree in political science in Australia, he went on to receive an MBA from Harvard Business School.
These achievements were pivotal, as they opened doors to global networks and opportunities. Harvard, in particular, exposed him to world-class business strategies and connections, which later influenced his approach to business.
Ananda often credited education as a cornerstone of his success, a value he upheld throughout his life.
Ananda's ability to build strategic relationships played a critical role in his success
In the 1970s, Ananda developed a friendship with former prime minister Mahathir Mohamad, which later enabled him to secure lucrative concessions in telecommunications and power generation.
One of his most notable contributions was redeveloping a former horse racing track into the Kuala Lumpur City Centre (KLCC), home to the iconic PETRONAS Twin Towers, forever transforming the city's skyline.
A 100-acre horse race track, known as Selangor Turf Club, sat at what is now KLCC.
Image via Sahabat Shah Alam (Facebook)Interestingly, Ananda is widely credited for the historic Live Aid 1985 concert, featuring Freddie Mercury's iconic performance
At the time, Ananda was known as an "oil baron" for his ventures in oil trading. He was looking to invest in "social venture capital", which he reportedly described as, "Instead of giving money to a charity, I wanted to invest it in someone who could raise amounts of money."
Ananda contacted Bob Geldof after reading about how the Irish musician had gathered British artistes together record the hit song Do They Know It's Christmas? under the Band Aid Trust to raise funds for famine relief.
The businessman then provided USD750,000 (RM3.3 million) in seed money and a USD1 million (RM4 million) letter of credit, contributing most of the money and manpower needed to execute Live Aid 1985.
The 16-hour long "superconcert", which was held simultaneously in London, England and Philadelphia, US, was broadcast live to an estimated 1.9 billion people across 150 countries.
It was a breakthrough in broadcast and satellite technology, and is said to have spurred Ananda into building his multimedia empire.
While his career began with ventures in oil trading, including the founding of Exoil Trading in the early 1970s, his true mark was made in telecommunications and media
According to Malay Mail, during the 1990s, Ananda Krishnan led Tanjong PLC, a conglomerate with interests in areas such as lotteries, power generation, and real estate.
Today, the privately held group owns prominent assets like TGV Cinemas and Menara Maxis.
In 1995, Ananda launched Maxis Communications, which grew into Malaysia's largest mobile network provider. Maxis revolutionised how Malaysians communicated, providing widespread coverage and introducing innovative services that connected millions.
Around the same time, he also launched Malaysia East Asia Satellite (MEASAT), a satellite system providing telecommunications, broadcasting, and Internet services across Asia, the Middle East, and Africa.
Soon after, Ananda founded Astro Malaysia Holdings, a satellite TV provider that brought entertainment, education, and cultural programming into our homes.
Astro's diverse offerings included a mix of local and international content, becoming a cultural staple for families across the nation.
Ananda also had interests in property and energy. His company, Usaha Tegas, diversified into global markets, with investments in broadcasting, satellites, and entertainment. His ability to spot opportunities and innovate cemented his reputation as a forward-thinking entrepreneur.
While celebrated for his business acumen, Ananda's empire has also faced controversies
In 2012, Tanjong sold its power assets to 1Malaysia Development Bhd (1MDB) for over RM8 billion, a transaction that faced criticism for its high valuation. Three years later, Ananda provided financial assistance to the state fund, helping it avoid default on a RM2 billion loan.
Separately, in 2018, Ananda was linked to high-profile corruption cases in India that involved government officials and telecom executives. However, neither he nor his deputy at the time, Ralph Marshall, were apprehended.
Although he rarely sought the limelight, Ananda was deeply committed to philanthropy
Through Usaha Tegas, he supported numerous charitable causes, focusing on education, healthcare, and community development.
One of his most notable initiatives was providing scholarships for underprivileged students, enabling them to access education both locally and internationally. He also supported cultural and arts programmes that aimed to preserve Malaysia's heritage.
Despite his significant contributions, Ananda remained private about his giving, reflecting his belief that philanthropy should be meaningful rather than performative. Many of his beneficiaries only discovered the extent of his generosity after his passing.
Despite his towering success, Ananda valued privacy, choosing to live a low-profile life primarily in the south of France. He was married with three children — two daughters and a son.
One of his daughters reportedly transitioned from medicine to filmmaking, while his son is a Buddhist monk living in Thailand.
At the time of his death, Ananda Krishnan's net worth was estimated at USD4.8 billion (approximately RM21.3 billion), making him one of the country's wealthiest individuals
His ventures were not confined to Malaysia as he held stakes in international companies, including global entertainment and satellite firms.
His global outlook allowed him to bring international standards to his businesses in Malaysia, elevating the country's reputation in telecommunications and media. His investments created jobs, advanced technology, and positioned Malaysia as a leader in these sectors within Southeast Asia.
While he was a private man, his work profoundly impacted millions
Colleagues, friends, and public figures described him as a strategic thinker, a man who could see opportunities where others saw obstacles.
As tributes pour in, they highlight not only his business successes but also his role as a philanthropist and nation-builder. He leaves behind a legacy of progress and generosity that will continue to inspire generations.
