Malaysia’s richest tycoons, led by Robert Kuok, saw their wealth jump nearly 30 per cent in 2026, driven by IPOs, retail growth, REIT plans and strong market performance. (AP Photo)
(ASSOCIATED PRESS)
Malaysia’s 50 richest individuals saw their combined wealth rise nearly 30 per cent to US$116 billion (S$148 billion/RM459 billion) in 2026, driven by a strong economy, IPO activity, and currency gains, according to Forbes PR. This figure is up from $90 billion last year. The list reflects broad-based gains across multiple industries.
Robert Kuok retained the top position with US$13.6 billion, with his Kuok Group spanning agribusiness, hospitality and data centres. His wealth rose 19 per cent over the year.
Koon Poh Keong and siblings climbed to No. 2, with wealth jumping 80 per cent to US$9.7 billion on strong Press Metal performance. Lee brothers, Yeow Chor and Yeow Seng, rose to No. 3, supported by palm oil and property assets, including planned REIT listings in Malaysia and Singapore.
Retail expansion also drove gains, with Lee Thiam Wah of 99 Speed Mart seeing wealth nearly double after store expansion past 3,000 outlets. Meanwhile, Eco-Shop founder Lee Kar Whatt debuted on the list after listing Malaysia’s largest dollar store chain.
Jeffrey Cheah of Sunway saw a major wealth increase following a US$732 million healthcare IPO, the country’s largest in nearly a decade. The gain highlights the impact of capital market activity on tycoon fortunes.
