Malaysia’s richest, ‘Sugar King’ Robert Kuok, is turning 102: Meet the top 5 tycoons

Malaysia’s richest man, Robert Kuok, also known as “Asia's Sugar King”, is turning 102 on October 6, 2025.

Currently, his empire spans agribusiness, real estate, and hospitality (Shangri-La Hotels and Resorts), while his longevity, grit, wealth, and philanthropic work have made him an enduring icon of Asian entrepreneurship and generosity.

Collectively Malaysia's top tycoons saw a rise in wealth, now standing at $90 billion, buoyed by a stronger ringgit — even amid a flat stock market, according to Forbes’ 2025 rankings. 

The wealth of these tycoons reflects Malaysia’s economic diversity. The data includes an estimate of jobs created, derived from the scale of their businesses and industry impact.

Here's an overview of Malaysia's 5 richest tycoons in 2025:

Age: 102 (on October 6, 2025)

Estimated Net Worth: $11.4 billion (~RM50.6 billion)

Main Company: Kuok Group

Industry/Industries: Diversified (Sugar, Palm Oil, Shipping, Real Estate, Hospitality)

Jobs Created: 25,000 (est)

Details: Known as the “Sugar King,” Robert Kuok has led the Kuok Group for 75 years, starting with trading sugar, rice, and wheat flour in Johor Bahru. His empire spans agribusiness (Wilmar International), real estate (Kerry Properties), and hospitality (Shangri-La Hotels and Resorts). 

Recent ventures include a major data center project in Johor. The Kuok Group’s global operations, including Wilmar’s extensive palm oil supply chain and Shangri-La’s hotel network, employ thousands across Asia and beyond. 

While exact figures are unavailable, Wilmar alone, as a leading palm oil company, likely supports over 10,000 jobs directly and indirectly through its supply chain, with additional employment from Kuok’s hospitality and property ventures.

Age: 84

Estimated Net Worth: $9.8 billion (~RM43.3 billion)

Main Company: Hong Leong Group

Industry/Industries: Finance, Real Estate, Food and Beverage, Manufacturing

Jobs Created: 20,000–30,000 (Est)

Details: As executive chairman of Hong Leong Co. (Malaysia), Quek Leng Chan oversees a conglomerate with interests in banking (Hong Leong Bank), property development, food (Hume Industries), and manufacturing. 

His wealth grew by $1 billion in 2025, driven by robust sales across the conglomerate. Hong Leong Bank alone employs around 8,000 people, and the group’s diverse operations, including real estate and manufacturing, likely contribute to tens of thousands of jobs in Malaysia and regionally. The group’s expansion into food and property development further amplifies its employment impact.

Age: Not individually specified (heirs of Teh Hong Piow, who died in 2022 at 92)

Estimated Net Worth: $5.9 billion (~RM26.1 billion)

Main Company: Public Bank

Industry/Industries: Finance, Banking, Insurance

Jobs Created: Approximately 19,000–20,000

Details: Tan Sri Teh Hong Piow, who died in 2022, is known as one of the greatest bankers in Malaysia. Teh Hong Piow founded Public Bank in 1966, whose niche was "retail banking with a twist", i.e. targeting the man-on-the-street.

The Teh siblings (Diona Teh Li Shian, William Teh Lee Pang, Lillian Teh Li Ming, Dr Lillyn Teh Li Hua) inherited their fortune from their late father.

The bank is Malaysia’s third-largest by assets, with operations in Malaysia, Cambodia, China, Hong Kong, Sri Lanka, and Vietnam. Their wealth rose 9% in 2025 to$5.9 billion. 

Public Bank employs around 19,000 staff, and the family’s minority stake in LPI Capital, an insurance firm, adds to their economic influence. The bank’s regional presence and consistent profitability suggest a significant role in job creation in the financial sector.

Age: 64 (Koon Poh Keong)

Estimated Net Worth: $5.4 billion (~RM23.9 billion)

Main Company: Press Metal Aluminium Holdings

Industry/Industries: Manufacturing (Aluminium)

Jobs Created: 7,000–10,000 (est)

Details: Koon Poh Keong, along with his siblings, transformed Press Metal Aluminium Holdings into Southeast Asia’s largest integrated aluminum producer, supplying tech, automotive, and aviation industries. Their net worth increased slightly in 2025, moving them to fourth place despite weaker aluminum prices.

Press Metal’s operations, including smelting and extrusion plants in Malaysia, directly employ around 7,000 workers, with additional indirect jobs in the supply chain for electronics and construction materials. The company’s global reach underscores its role in industrial job creation.

Age: Not specified (heirs of Ananda Krishnan, who died in November 2024 at 86)

Estimated Net Worth: $5.3 billion (~RM23.4 billion)

Main Company: Usaha Tegas (holdings in Maxis, Astro Malaysia, Bumi Armada)

Industry/Industries: Telecommunications, Media, Oilfield Services

Jobs Created: Approximately 15,000–20,000

Details: The Krishnan family debuted at No. 5 in 2025, inheriting the telecom and energy empire of Ananda Krishnan, a Harvard Business School graduate and former oil trader. Their wealth stems from stakes in Maxis (a leading Malaysian telecom provider), Astro Malaysia Holdings (media), and Bumi Armada (oilfield services). 

Maxis alone employs around 4,000 people, while Astro and Bumi Armada add thousands more across Malaysia and globally. The family’s diverse portfolio supports significant employment in telecom, media, and energy sectors, though exact figures are not publicly detailed.

(Notes: Net worths are based on Forbes’ 2025 estimates, using stock prices and exchange rates as of April 7, 2025. Conversions to MYR use the rate of RM4.423=$1. The average Malaysian household earns ~$835/month).