Like clockwork, Forbes has dropped its annual World’s Billionaires List. This year, there are 19 Malaysians who made it onto the list.
As usual, familiar faces dominate it, but there are some notable names who have appeared (or reappeared).
A new face
The most prominent addition to the list is none other than 99 Speedmart’s Lee Thiam Wah. Impressively, the founder debuted as the fourth richest billionaire in Malaysia, after Robert Kuok, Quek Leng Chan, and Koon Poh Keong.
This follows 99 Speedmart’s IPO last year, which had been the talk of the town and raised US$532 million.
Born with poliomyelitis—a disease to his central nervous system— he was bound to a wheelchair since he was 8 months old.
Despite health challenges, he became a visionary business man, having opened his first shop in 1987 in the port city of Klang, before selling it and establishing the Pasar Mini 99 chain in 1992.
The entrepreneur has a net worth of US$3.6 billion, making him the 979th billionaire in the world at the time of Forbes’ World’s Billionaires List.
Making a comeback?
Back on the list is Tan Yu Yeh, the founder of Mr. D.I.Y, our homegrown home improvement retail chain. He had debuted on the list in 2021, but had not made it onto the list last year.
Weirdly enough, Forbes now reports that his 2023 wealth had been US$1.9 billion, which means he should’ve been on the list last year. Perhaps the publication had not been able to ascertain his net worth when putting out the list.
Another returnee is Lim Wee Chai, who had been absent from the list after 2022. This is the man behind Top Glove, which saw soaring performance in 2021 thanks to the pandemic. With a net worth of US$1.1 billion, he’s the final billionaire from Malaysia on the list.
Who’s missing
The one name missing from the list this year is Ananda Krishnan, who passed away last November at the age of 86.
A Harvard Business School grad and former oil trader, Ananda built a multi-billion dollar empire from scratch. His holdings included stakes in Maxis, Astro Malaysia Holdings, and an oilfield services-provider called Bumi Armada.
| 2024 Malaysian Billionaires | 2025 Malaysian Billionaires |
|---|---|
| Robert Kuok | Robert Kuok |
| Quek Leng Chan | Quek Leng Chan |
| Ananda Krishnan | Koon Poh Keong |
| Koon Poh Keong | Lee Thiam Wah |
| Lee Yeow Chor | Jeffrey Cheah |
| Lee Yeow Seng | Lee Yeow Chor |
| Lim Kok Thay | Lee Yeow Seng |
| Kie Chie Wong | Syed Mokhtar AlBukhary |
| Jeffrey Cheah | Lim Kok Thay |
| Lau Cho Kun | Kie Chie Wong |
| Diona Teh Li Shan | Diona Teh Li Shan |
| Lillian Teh Li Ming | Lillian Teh Li Ming |
| Lillyn Teh Li Hua | Lillyn Teh Li Hua |
| Lim Chai Hock | William Teh Lee Pang |
| William Teh Lee Pang | Lau Cho Kun |
| Syed Mokhtar AlBukhary | Lim Chai Hock |
| Cheah Cheng Hye | Tan Yu Yeh |
| – | Cheah Cheng Hye |
| – | Lim Wee Chai |
- Learn more about Forbes’ World’s Billionaires List here.
- Read other articles we’ve written about Forbes’ lists here.
Featured Image Credit: Lim Wee Chai via Top Glove / Lee Thiam Wah via Forbes / Tan Yu Yeh via Mr. D.I.Y. Group
