4 Jun - 2 min read
Forbes has released its 2021 Malaysia Rich List, which saw the combined wealth of the 50 richest people in Malaysia rebounding by 14% to nearly US$90 billion this year. In 2021, we see Top Glove joining its fellow glovemaker Hartalega in the Top 10 for the first time, while the MR DIY brothers secured the No. 10 spot as the richest newcomers on the list.
The Top 10 richest in Malaysia as reported by Forbes are:
The No. 1 and No. 2 spots remain unchanged from last year, with property and commodities business magnate Robert Kuok and Hong Leong group’s Quek Leng Chan reprising their positions respectively. Press Metal’s Koon Poh Keong and siblings are this year’s biggest dollar gainers at third place. Usaha Tegas chairman Ananda Krishnan, Public Bank chairman Teh Hiong Piow, and IOI brothers Lee Yeow Chor and Yeow Seng follow.
At 7th and 8th place are the Malaysian glovemakers – Kuan Kam Hon of Hartalega Holdings and Lim Wee Chai of Top Glove. Kuan Kam Hon moved up two spots from the previous year, whereas Lim Wee Chai was at the No. 14 spot previously. Forbes has attributed the reversal in Malaysia’s two-year wealth decline to country’s dominant position as the medical glove maker amidst the global Covid-19 pandemic. Malaysian exports of rubber gloves have doubled and five of the nation’s largest glove producers feature on the top 50 rich list.
Chen Lip Keong of NagaWorld casinos slid down five spots to No. 9 this year and is one of the 19 listees whose fortunes fell as the pandemic took its toll. Another casino mogul that was hard hit in 2021 was Genting’s Lim Kok Thay, who just fell out of the Top 10 to place at No. 11 this year. In the whole 50 richest Malaysians list, seven names dropped out altogether, including AirAsia duo Tony Fernandes and Kamarudin Meranun.
Lastly, entering the Top 10 list at No. 10 for the first time this year are brothers Tan Yu Yeh and Yu Wei of MR DIY. They are the richest of the five total newcomers on the Forbes Malaysia Rich List.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world