The Kuok Group patriarch remains Malaysia’s wealthiest person. His net worth climbed 19% to US$13.6 billion, supported by a diverse portfolio.
PETALING JAYA: The combined fortune of Malaysia’s 50 wealthiest individuals has soared to US$116 billion, up from US$90 billion a year ago, according to the 2026 Forbes Asia Malaysia’s 50 Richest list.
The surge reflected a broad recovery in the local economy, with 41 tycoons seeing an increase in their net worth. This year, the threshold for entering the top 50 rose significantly to US$422 million, compared to last year’s US$335 million.
The Top Three: Titans of Trade and Industry
Robert Kuok (1st): The Kuok Group patriarch remains Malaysia’s wealthiest person. His net worth climbed 19% to US$13.6 billion, supported by a diverse portfolio including hospitality, agribusiness, and the expanding data centre sector.
The Koon Family (2nd): Tan Sri Koon Poh Keong and his siblings recorded the list’s most impressive dollar-term gains. Following a sharp rally in Press Metal Aluminium Holdings shares, their wealth surged 80% to US$9.7 billion, marking their first appearance in the runner-up spot.
The Lee Brothers (3rd): IOI Group’s Datuk Lee Yeow Chor and Datuk Lee Yeow Seng took third place with a collective US$8.5 billion. Beyond their palm oil foundations, the brothers are pivoting towards property development and strategic REIT listings across Malaysia and Singapore.
Significant wealth growth was also noted in the retail and construction sectors. Lee Thiam Wah, the founder of 99 Speed Mart, saw his fortune nearly double to US$6.7 billion. The retail magnate’s rise follows his chain’s aggressive expansion, which now boasts over 3,000 outlets nationwide.
Sunway Group chairman Tan Sri Jeffrey Cheah also enjoyed a stellar year, with his wealth jumping 76% to US$5.3 billion. This growth was largely fuelled by the successful public debut of Sunway’s healthcare division, which marked one of Malaysia’s most significant IPOs in recent memory.
New entries and notable returns
The 2026 rankings welcomed two new names:
Datuk Sri Lee Kar Whatt: The Eco-Shop Marketing co-founder made a strong debut at 18th place with a net worth of US$1.5 billion.
The Tiong Family: Entering at 42nd with US$655 million, the family manages the extensive palm oil, media, and property legacy of the late Tan Sri Tiong Hiew King.
Additionally, Datuk Chu Jenn Weng, co-founder of ViTrox, returned to the list with US$565 million. His semiconductor firm saw its valuation rise as global demand for artificial intelligence technologies boosted interest in advanced testing equipment.
