Robert Kuok and Teh Hong Piow slip down world's richest list as wealth shrinks

Robert Kuok and Teh Hong Piow slip down world's richest list as wealth shrinks
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KUALA LUMPUR (Dec 3): The only two Malaysians listed on the Bloomberg Billionaires Index had both slipped down the list as of Friday (Dec 3).

Malaysia's richest man Robert Kuok slipped to rank 109 from 105 on Nov 28, while his total net worth dipped to US$17.9 billion (about RM75.64 billion) from US$18.3 billion. His net worth had grown by US$463 million since the start of 2021.

Kuok controls businesses across Malaysia, Singapore and Hong Kong, including Wilmar International, the world's largest palm oil refiner.

Meanwhile, Public Bank Bhd founder and chairman emeritus Tan Sri Dr Teh Hong Piow slipped further down the list to rank 419 (from 410), while his wealth was down to US$6.77 billion from US$6.89 billion.

Year to date, his wealth had fallen by US$115 million.

Teh holds a 22.78% stake in Public Bank through his private investment vehicle Consolidated Teh Holdings Sdn Bhd, and also directly holds 0.64% of the bank. Bloomberg lists his holdings in the bank as his biggest assets.

At the top of the list was Tesla chief executive officer (CEO) Elon Musk, who maintained his top spot with a total net worth of US$284 billion, followed by Amazon CEO Jeff Bezos with a wealth of US$198 billion.

The Bloomberg Billionaires Index is a daily ranking of the world’s 500 richest people. The figures are updated at the close of every trading day in New York.

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