No. 1 position for more than two decades unchanged

Here are the 10 richest Malaysians in 2022:

1. Robert Kuok

Net worth: 11 billion USD

Line of business: Palm oil, transportation, real estate

Robert Kuok has been the richest man in Malaysia for more than two decades. He owns Kuok Group – businesses in various fields including hotels, real estate and commodities. He founded the famous Shangri-la hotel in Singapore in 1971. Kuok is also known as the “Sugar King” because he got rich from investing in sugarcane plantations since the 1960s and had control until the 1960s. 5% of the world sugar market. (Photo: SCMP)

2. Quek Leng Chan

Net worth: 10.1 billion USD

Line of business: Banking, real estate

Quek Leng Chan is the Executive Chairman of the private conglomerate Hong Leong Malaysia. He inherited part of the property from his father. (Photo: The Star)

3. Koon Poh Keong & siblings

Net worth: 6.2 billion USD

Line of business: Aluminum

Koon Poh Keong and his siblings started Press Metal in the mid-1980s. Today, Press Metal is the largest integrated aluminum producer in Southeast Asia. Poh Keong assumes the position of Executive Chairman of the company. (Photo: Forbes)

4. Teh Hong Piow

Net worth: 5.7 billion USD

Line of business: Banking

Teh Hong Piow is the founder and chairman of Public Bank Malaysia for many years. According to Forbes, Mr. Teh holds a significant stake in this bank as well as a stake in the insurance business LPI Capital. (Photo: CNW)

5. Ananda Krishnan

Assets: 5 billion USD

Business fields: Telecommunications, media, oil and gas services

Krishnan invests in a wide range of sectors including telecommunications (Maxis, Sri Lanka Telecom, Aircel), media (Astro Malaysia, Johnston Press), oil and gas (Bumi Armada) and real estate. He is also considered the “father” of the 88-storey Petronas Twin Towers in Kuala Lumpur – the tallest building in the world until 2004. (Photo: WSJ)

6. Lee Yeow Chor & Yeow Seng

Net worth: 4.8 billion USD

Line of business: Palm oil, real estate

Lee Yeow Chor and Lee Yeow Seng are the sons of the late billionaire Lee Shin Cheng – who died in June 2019. Mr. Lee Shin Cheng is the founder of IOI Group, which supplies palm oil products to more than 60 countries. (Photo: The Star)

7. Chen Lip Keong

Assets: $2.7 billion

Business lines: Casino, real estate

NagaWorld of billionaire Chen Lip Keong is a large resort and casino business group in Southeast Asia. This group has a casino business license in Cambodia’s capital Phnom Penh until 2065. NagaCorp is the first casino company listed on the Hong Kong (China) stock exchange. (Photo: Forbes)

8. Tan Yu Yeh & Yu Wei

Net worth: 2.4 billion USD

Line of business: Fashion & Retail

Tan Yu Yeh and Yu Wei became rich thanks to their shares in Mr DIY Group, a home appliance retail chain, founded in 2005. The company was listed on the Malaysian stock exchange in October. 2020, making them both billionaires. (Screenshots)

9. Lim Kok Thay

Net worth: 2.35 billion USD

Line of business: Casino

Lim Kok Thay is the son of Genting Group founder Mr. Lim Goh Tong. Mr. Lim Kok Thay is credited with expanding Genting’s scope of activities beyond the Malaysian border, turning the group into a multinational company with profits from Australia, Singapore to the US. (Photo: Thepeak.com)

10. Wipe for Kun

Assets: 2 billion USD

Line of business: Real estate, palm oil

Lau Cho Kun is the largest shareholder in Hap Seng Consolidated, through the joint stock company Gek Poh and the investment company Lei Shing Hong. Hap Seng Consolidated has operated Mercedes-Benz dealerships in Malaysia since 1969. (Photo: Hap Seng)

According to Linh Lam