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Wednesday, March 7, 2018

Robert Kuok is 96th richest man in the world


Forbes magazine has listed Malaysian tycoon Robert Kuok among the top 100 billionaires in the world.
The 94-year-old business magnate is ranked 96 with an estimated net worth of US$14.8 billion (RM57.8 billion).
The magazine said Kuok's net worth had doubled from US$7 billion in 2009.
Forbes attributed Kuok's wealth to his ownership of the Kuok Group, which has interests in the property and commodities sector.
"His nephew Kuok Khoon Hong runs Wilmar International, which comprises the majority of his fortune," said the magazine.
Singapore-based Wilmar International is the biggest oil palm processing, merchandising, and distribution company in the world.
Kuok was one of 14 Malaysians in Forbes' list of top 2,000 billionaires.
He was ranked 115th in the magazine's list last year.
Among the Malaysians on the list are Ananda Krishnan and Quek Leng Chan, who are tied at 217th place with an estimated net worth of US$7.2 billion each.
Meanwhile, Amazon CEO Jeff Bezos, with an estimated net worth of US$112 billion, has overtaken Microsoft founder Bill Gates (US$90 billion) as the world's richest man, according to Forbes.
Bezos' net worth received a huge boost thanks to Amazon's strong increase in share prices. Bezos is a major shareholder in the company.
US president Donald Trump fell 200 spots and is 766 on the Forbes list, due to declining Manhattan real estate values and lower revenues from Trump's golf properties. -Mkini

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