Teh Hong Piow slips on global billionaire index despite adding to wealth

Teh Hong Piow slips on global billionaire index despite adding to wealth
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KUALA LUMPUR (April 20): Public Bank Bhd founder and chairman Tan Sri Dr Teh Hong Piow has slipped three notches to number 370 on the Bloomberg Billionaires Index as of today despite adding US$302 million year-to-date (YTD) and increasing his cumulative wealth to US$7.18 billion.

As at April 9, Teh was ranked 367 on the list, but lost US$9.72 million yesterday.

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, maintained his position at number 88 as his total wealth rose to US$21 billion from US$20.8 billion on April 9 after adding US$56.6 million.

YTD, Kuok, who controls businesses across Malaysia, Singapore and Hong Kong including Wilmar International, the world's largest palm oil refiner, has earned US$3.51 billion.

Meanwhile, Amazon founder and chief executive officer Jeff Bezos consolidated his top spot despite having US$1.51 billion shaved off his wealth to US$193 billion.

YTD, Bezos has added US$6.39 billion to his net worth.

Elon Musk came in second with US$183 billion after losing US$487 million, while amassing US$14.5 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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