Forbes Asia has released its annual list of Malaysia’s 50 Richest, with the family of NagaCorp founder Dr Chen Lip Keong, who passed away in December, among four new additions to the list in 2024.
The Chen family and specifically Dr Chen’s five sons have come in at No 18 on this year’s list with a combined wealth of US$1.11 billion thanks to their NagaWorld integrated resort in Phnom Penh, Cambodia. They include Chen Yiy Fon, who was appointed CEO of the NagaCorp group following his father’s passing, while Chen Cherchi, CEO – Finance and Treasury, and Chen Yiy Hwuan, CEO – Hotels, are also directly involved in the family business.
Sitting nine spots above them and inside Malaysia’s top 10 (No 9) is Genting Berhad Chairman and CEO Lim Kok Thay, with a US$2.2 billion fortune according to Forbes’ estimations. Lim’s wealth has remained stable over the past year but remains well down on the US$4.7 billion fortune he held in 2018.
Still topping the Malaysia rich list is businessman Robert Kuok, who turned 100 last year, with US$11.5 billion to his name.
The top 20 on this year’s list all hold at least US$1 billion in wealth, while the minimum net worth to qualify for the list was US$320 million, up from $315 million in 2023.
