Robert Kuok And 12 More Malaysian Tycoons Who Made It To Forbes' 2019 Billionaires List
On 5 March, Forbes released their 2019 list of The Richest People In The World
The top three in the prestigious list remained the same as in 2018 - Amazon's Jeff Bezos is the world's richest man with USD131 billion, ahead of Microsoft's Bill Gates (USD96.5 billion) and investor Warren Buffett (USD84.5 billion).
However, the report also revealed a surprising difference - there are 55 fewer billionaires in 2019 than in the year before.
"Both the number of billionaires and their total wealth shrank, proving that even the wealthiest are not immune to economic forces and weak stock markets," it read.
11% of last year's list members dropped out of the ranks, making it the biggest drop since 2009, when the global financial crisis was at its height.
Among the 247 people who dropped in rankings was Malaysia's Sugar King Robert Kuok, who fell from 96th place in 2018 to 104th this year.
As such, there are no Malaysians in Forbes' top 100.
While Malaysia recorded slightly less in 2019, Forbes reported that there are still 13 billionaires from the country with a combined total of USD61.6 billion (RM251.9 billion).
1. Robert Kuok
At 104th place on Forbes' World's Billionaires List, Johor-born Robert Kuok maintains his position as the richest man in Malaysia in 2019 with USD12.8 billion (RM52.35 billion).
Dubbed the Sugar King, the Hong Kong-based tycoon is best known as the owner of Kuok Group and founder of internationally renowned Shangri-la Hotels.
The 95-year-old also manages or has business interests in companies all over the world, including PPB Group Berhad, Federal Flour Mills (FFM) Berhad, Kerry Properties, and Chemquest.
2. Tan Sri Quek Leng Chan
The title of the second richest man in Malaysia goes to co-founder of Hong Leong Group Malaysia, Quek Leng Chan, who takes the 149th spot with USD9.4 billion (RM38.4 billion).
Born in Singapore, he inherited part of his fortune from his father and started the banking group in the 1920s.
Now the 78-year-old is the executive chairman of the privately held conglomerate, which has interests in finance, property, and food.
3. Tan Sri Teh Hong Piow
Tycoon Teh Hong Piow takes the 233rd spot on Forbes' list with USD6.7 billion (RM27.4 billion).
He founded Malaysian banking behemoth Public Bank Berhad in 1966, and chaired it for decades before officially retiring on 1 January 2019.
The 88-year-old still owns nearly a fourth of the bank, as well as 44% of insurance business LPI Capital.
Tatparanandam Ananda Krishnan is the 261st richest person in the world, and fourth richest Malaysian, with USD6.2 billion (RM25.3 billion).
Born in Brickfields, the 80-year-old's holdings include stakes in Maxis, Astro Malaysia Holdings, and oilfield services-provider Bumi Armada.
5. Tan Sri Lee Shin Cheng
Business magnate and investor Lee Shin Cheng takes the 325th place on the list with USD5.4 billion (RM22 billion).
Born in Kuala Lumpur, Lee grew up on a rubber plantation where his father ran a Chinese food shop.
Now, the 79-year-old chairs IOI Corporation Berhad, one of the largest palm oil plantation companies in Malaysia and the world leading in oleochemicals.
6. Tan Sri Dr. Chen Lip Keong
Taking 355th place with USD5 billion (RM20.4 billion) is the self-proclaimed "accidental" gambling billionaire Chen Lip Keong.
The 71-year-old is currently Chief Executive and majority shareholder of NagaCorp.
His venture, NagaWorld, is the largest casino resort in Indochina - it holds a casino license in Cambodian capital Phnom Penh until 2065, with a guaranteed monopoly until 2035.
7. Tan Sri Lim Kok Thay
With USD4.4 billion (RM18 billion), Lim Kok Thay is the 436th richest person in the world and seventh richest Malaysian.
The son of billionaire Lim Goh Tong, who founded casinos, resorts, and palm oil conglomerate Genting Group, the 67-year-old businessman is a board executive and Chairman of the company.
He is also the Chairman and Chief Executive of Genting Berhad; and the Executive Chairman of Genting Singapore Limited and Genting UK Plc.
8. Lau Cho Kun
Placing 645th on Forbes' list is Lau Cho Kun with USD3.4 billion (RM14 billion).
The notoriously low-profile businessman is the largest shareholder in Hap Seng Consolidated, through holding company Gek Poh and investment arm Lei Shing Hong.
Hap Seng Consolidated has been operating Mercedes-Benz dealerships in Malaysia since 1969.
9. Kuan Kam Hon
Taking the 962th place on Forbes' 2019 Billionaires List is 72-year-old Kuan Kam Hon, with USD2.4 billion (RM9.8 billion).
The high school drop-out began his career in building and construction in 1969. In 1978, he set off on his own to start Timol Weaving, a manufacturing business for woven labels and badges.
He founded Hartalega Holdings in 1981, which became the word's largest and fastest maker of nitrile gloves, exporting to 40 countries.
10. Syed Mokhtar Al-Bukhary
With USD1.7 billion (RM6.9 billion), Kedah-born Syed Mokhtar Al-Bukhary ties for the title of 10th richest person in Malaysia and 1,349th in the world.
The bulk of his wealth comes from stakes in listed conglomerates MMC Corp and DRB-HICOM.
The 68-year-old is also the founder of the Albukhary Foundation, an international non-profit charity organization that focuses on social development.
11. Koon Poh Keong
12. Tan Sri Dato' Seri Dr. Jeffrey Cheah
Taking the 1,717th place on Forbes' list is Jeffrey Cheah, with USD1.3 billion (RM5.3 billion).
The billionaire is the founder and chairman of the Sunway Group, a conglomerate operating in 12 industries with core businesses in property and construction.
He is also the Foundation Chancellor of Sunway University and a Founding Trustee of the Jeffrey Cheah Foundation.
13. Tan Sri Dr. Lim Wee-Chai
The last Malaysian to make the cut on Forbes' Billionaires List is Lim Wee-Chai, with USD1.2 billion (RM4.9 billion).
The 61-year-old, who took the 1818th spot, is the founder and Executive Chairman of Top Glove Corporation Bhd, which controls 25% of the world market for rubber gloves.
The businessman also holds a 10% stake in property developer Tropicana and sits on the board.