Forbes Richest 2023: Malaysia’s Wealthy Elite

Forbes, the bastion of wealth assessment, has unveiled its latest roster of the globe’s most affluent individuals, amassing an astronomical collective fortune of approximately RM53.6 trillion, or US$12.2 trillion. This esteemed list prominently features eighteen accomplished Malaysians, encompassing stalwarts of industry like Tan Sri Robert Kuok and Tan Sri Ananda Krishnan, as well as newcomers who’ve etched their names in the annals of prosperity.

A notable milestone is the inclusion of three Malaysian women—Dr. Lillyn Teh, Lillian Teh, and Diana Teh—siblings and heirs to the legacy of Public Bank’s founder, the late Tan Sri Teh Hong Piow. Their entry into Forbes’ Billionaires list marks a momentous occasion in the history of Malaysian wealth rankings.

The cumulative net worth of Malaysia’s wealthiest individuals tallies an astonishing US$54.7 billion, equivalent to approximately RM240.38 billion. Leading this illustrious group, as he did the previous year, is Tan Sri Robert Kuok, a titan in the corporate arena. Kuok’s empire, the Kuok Group, wields influence in diverse sectors encompassing hotels, real estate, and commodities. It boasts entities such as the Shangri-La Group, Kerry Logistics, Kerry Properties, Golden Screen Cinemas, and more.

Following closely is Tan Sri Quek Leng Chan, the executive chairman of Hong Leong Group, a prominent name in the echelons of Malaysian business. Tan Sri Ananda Krishnan, renowned for his achievements in telecom and oil, occupies a significant position on the list. Notably, Tan Sri Koon Poh Keong, the group CEO of the aluminum giant Press Metal, adds to the wealth rankings’ diversity.

IOI Group’s managing director and CEO, Dato’ Lee Yeow Chor, and his brother, IOI Properties Group’s executive vice chairman, Lee Yeow Seng, make a return to the prestigious list. Their presence exemplifies their enduring influence. The roster also features accomplished figures like NagaCorp CEO Tan Sri Chen Lip Keong, Genting chairman Tan Sri Lim Kok Thay, Australian-based Malaysian investor Wong Kie Chie, and Hap Seng Consolidated’s Tan Sri Lau Cho Kun.

The philanthropic billionaire Tan Sri Syed Mokhtar Albukhary, whose interests span DRB-Hicom and MMC Corp, is another prominent inclusion. Also, gracing the list are Tan Sri G. Gnanalingam of Westports Malaysia, Sunway Group’s Tan Sri Jeffrey Cheah, and MR DIY founder Tan Yu Yeh.

Malaysia’s Wealthiest Billionaires, as per Forbes:

1. Tan Sri Robert Kuok: US$11.8 billion
2. Tan Sri Quek Leng Chan: US$10.1 billion
3. Tan Sri Ananda Krishnan: US$5.2 billion
4. Tan Sri Koon Poh Keong: US$4 billion
5. Tan Sri Chen Lip Keong: US$2.8 billion
6. Dato’ Lee Yeow Chor: US$2.8 billion
7. Tan Sri Lim Kok Thay: US$2.3 billion
8. Wong Kie Chie: US$1.8 billion
9. Tan Sri Lau Cho Kun: US$1.7 billion
10. Tan Sri Syed Mokhtar AlBukhary: US$1.6 billion
11. Lee Yeow Seng: US$1.6 billion
12. Tan Sri G. Gnanalingam: US$1.5 billion
13. Lillyn Teh Li Hua: US$1.3 billion
14. Lillian Teh Li Ming: US$1.3 billion
15. William Teh Lee Pang: US$1.3 billion
16. Diana Teh Li Shing: US$1.3 billion
17. Tan Sri Jeffrey Cheah: US$1.2 billion
18. Tan Yu Yeh: US$1.1 billion