Who is Robert Kuok - Richest Person in Malaysia: Biography, Personal Life And Net Worth
| Summary |
Who is the Richest Person in Malaysia Today?
• Richest Person: Robert Kuok
• Age: 100
• Net Worth: $11.4 Billion
• Rank: 176
• Source of Wealth: Palm oil, shipping, property, Self Made
• Residence: Hong Kong, Hong Kong
• Marital Status: Married
• Children: 8
• Education: Bachelor of Arts/Science, Raffles College
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| Robert Kuok |
Kuok is the only Malaysian in the top 200 list of billionaires, coming in at number 176. The 100-year-old tycoon owns the Kuok group, which has investments in hotels, real estate, and commodities. However, Kuok's ranking fell from the previous year, when he was ranked 146th with a US$ 11.4 billion net worth. In addition to Kuok, fourteen other Malaysians were listed as Forbes 2024 Billionaires.
Robert Kuok's Early Life and Education
Kuok, who was the youngest of three sons, was born in Johor in 1923. His father immigrated to British Malaya from Fujian, China, and went on to become a prosperous businessman.
His early schooling was in English-medium institutions; he attended the esteemed Raffles College in Singapore and the renowned English College in Johor.
Robert Kuok Career
He experienced his first taste of business during Malaya's Japanese occupation. After joining Mitsubishi's rice distribution company, he worked his way up from clerk to head of department by the end of the war.
In order to take over the family's rice distribution company after his father passed away in 1948, Kuok, his siblings, and other family members established the Kuok Brothers.
The Kuok family was able to take the lead in a number of industries after British rule in Malaya came to an end. Their first significant success was in the sugar industry.
Kuok established a sugar refinery in Prai, Penang with the assistance of Japanese business associates. He then traded the commodity globally, gaining the title of "Sugar King of the East."
In 2009, he left the sugar refining industry after 45 years when Malayan Sugar Manufacturing (MSM) was sold to Felda Global Ventures. At its height, MSM held 80% of the Malaysian sugar market.
Due to his success in the trading of sugar, flour, and edible oils, Kuok went on to create a multinational conglomerate that is still in operation today.
Kuok moved to Hong Kong in 1975, but he still has a close relationship with Malaysia.
In order to assist in reconstructing the nation's economy following Pakatan Harapan's historic victory in 2018, Kuok was called in as an advisor by Mahathir Mohamad, the former prime minister.
Along with Hassan Merican, Zeti Aziz, Jomo KS, and Daim Zainuddin, he was named to the Council of Eminent Persons.
In his 2017 autobiography, Kuok detailed his contributions to the fledgling Malayan federation—which would eventually become Malaysia.
There have been ups and downs in his relationship with the Malaysian government, nevertheless.
The tale of MISC, Malaysia's first shipping line, which was conceived under his direction, was one instructive example. Kuok finally left the company in 1987 as a result of persistent government pressure to grant the bumiputera community more shares.
After that, he founded Pacific Carriers Ltd., a new shipping company in Singapore.
Before the airline eventually split into Singapore Airlines (SIA) and Malaysian Airline System (MAS) in 1972, Kuok served as chairman of Malaysia-Singapore Airlines (MSA) from 1969 to 1971.
Additionally, he was a key figure in the founding of Perbadanan Nasional Bhd and Bank Bumiputra. In both of the organizations that were founded to encourage bumiputera interest in the economy, he held the position of director.
Due to the political climate in Malaysia changing after the May 1969 riots and the lure of opportunities overseas, Kuok moved to Hong Kong and proceeded to expand his empire into China and the global arena.
The China World Trade Center, which debuted in Beijing's Chaoyang business district in 1990, is one of his most well-known investments in the country.
Robert Kuok's Personal Life
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| Robert Kuok Family |
Kuok has had two marriages. Pauline Ho Poh Lin is his second wife, and Joyce Cheah was his first. The marriages have produced eight children for him. Kuok Khoon Ean, his 1955-born son, is married to Kuok Cheng Sui and has an economics bachelor's degree from the University of Nottingham in England.
The chairman of Kuok Brothers is his other son, Kuok Khoon Ho, who was born in 1951 and graduated with a bachelor's degree from McGill University in Canada. His daughter Kuok Hui Kwong is the chairperson of Shangri-La Asia as well as the managing director and chief executive of SCMP Group. Kuok Khoon Ean, one of his sons, is in charge of the majority of his companies' daily operations. For now, he lives in Kuala Lumpur.
Robert Kuok's Net Worth
Among his many ventures, Kuok runs a sugar production company, which has earned him the moniker "Sugar King" in the community press. Additionally, he started the upscale hotel brand Shangri-La. Even though the tycoon's net worth has decreased by over a billion dollars since May of last year, he still has a US$11.4 billion fortune.
Top 10 Richest Billionaires in Malaysia 2024
1. Robert Kuok
Net worth: US$11.4 billion
2. Quek Leng Chan
Net worth: US$9.9 billion
3. Koon Poh Keong and siblings
Combined net worth: US$5.8 billion
4. The Teh siblings
Combined net worth: US$5.2 billion
5. Ananda Krishnan
Net worth: US$4.7 billion
6. Lee Yeow Chor and Lee Yeow Seng
Combined net worth: US$4.6 billion
7. Chen Lip Keong
Net worth: US$2.8 billion
8. Lim Kok Thay
Net worth: US$2.3 billion
9. Tan Yu Yeh, Tan Yu Wei and family
Combined net worth: US$1.9 billion
10. Chia Song Kun & family
Combined net worth: US$1.8 billion
Robert Kuok: Awards & AchievementsRobert Kuok Hock Nien's business acumen and societal contributions have garnered him multiple accolades and recognitions. "Robert Kuok: A Memoir," the memoir he published in 2018, was named the Singapore Book Publishers Association's 2018 Best Book of the Year winner. |
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