Teh Hong Piow and Robert Kuok slip on billionaire index after trimming wealth

Teh Hong Piow and Robert Kuok slip on billionaire index after trimming wealth
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KUALA LUMPUR (April 9): Public Bank Bhd founder and chairman Tan Sri Dr Teh Hong Piow has slipped five notches to number 367 on the Bloomberg Billionaires Index as of today after losing some US$18.3 million (RM75.64 million) to take his tally to US$7.16 billion.

Teh, who was ranked 362 on the list last week, however has added US$281 million year-to-date (YTD).

He holds a 22.78% stake in Public Bank through his private investment vehicle — Consolidated Teh Holdings Sdn Bhd. He has another direct stake of 0.64%.

Meanwhile, Robert Kuok, Malaysia’s richest man, slipped one spot to number 88 on the list after losing US$25.8 million to US$20.8 billion.

YTD, Kuok, who controls businesses across Malaysia, Singapore and Hong Kong including Wilmar International, the world's largest palm oil refiner, has earned US$3.33 billion.

Meanwhile, Amazon founder and chief executive officer (CEO) Jeff Bezos consolidated his top spot after adding US$1.08 billion to push his total wealth to US$193 billion.

YTD, Bezos has added US$2.44 billion to his net worth.

Elon Musk came in second with US$176 billion after adding US$2.91 billion, while amassing US$5.68 billion YTD.

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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