Malaysia’s economy is expected to grow more slowly this year after surging 8.7% in 2022, driven by a recovery in domestic consumption. Despite the post-pandemic recovery, the Malaysian stock market fell 8% since the last measurement and the ringgit weakened nearly 2%.
However, this has not had a significant impact on the collective wealth of Malaysia’s 50 richest people, which stands at US$81.6 billion or around Rp1,244 trillion.
Robert Kuok remains wealthy
Robert Kuok Hock Nien, a well-known Malaysian businessman of Chinese descent, continues to top the list of the richest people in Malaysia. He is the founder and chairman of Shangri-La Hotels and Resorts, one of the world’s leading luxury hotel chains.
Kuok’s Career and Perseverance
- Born in Johor Bahru, Malaysia, Kuok started his career at a young age working for a Japanese company during World War II.
- After the war, he returned to Malaysia and together with his brother founded Kuok Brothers, a company engaged in sugar and rice trading.
- His persistence and foresight in business led Kuok Brothers to become one of the largest companies in Malaysia.
- In 1971, Kuok established the Shangri-La Hotel in Singapore, which became the first hotel in the Shangri-La Hotels and Resorts chain.
- Over time, Shangri-La grew rapidly and became one of the world’s leading luxury hotel chains with properties in various countries.
- Kuok also expanded his business into various other sectors, such as plantations, real estate, logistics, and media.
Generous and Influential
Robert Kuok is known as a visionary and generous businessman who has contributed a lot to Malaysia and the world.
A Generous and Influential Figure
Robert Kuok is known as a visionary entrepreneur and philanthropist who has contributed a lot to Malaysia and the world. He is respected as one of the richest men in Southeast Asia and is nicknamed the “Sugar King” for his success in the sugar industry. Kuok is active in various philanthropic activities and has donated a lot of money to education, healthcare and cultural preservation.
Robert Kuok is one of the richest men in Malaysia with an estimated net worth of $11.8 billion (2023). He has received numerous prestigious awards, including Tan Sri (Malaysia’s highest honorary title) and Japan’s Order of the Rising Sun. Kuok is known to be humble and modest, despite his immense wealth.
