PETALING JAYA: The combined fortune of Malaysia’s top 50 wealthiest families and individuals increased by 2% to US$83.4bil for the year amid a weaker ringgit, according to Forbes Asia.
The modest gain reflected the impact of the declining ringgit, which offset a 9% increase in Malaysia’s stock market since the wealth of the country’s richest tycoons were last measured, the financial and investment media group explained.
In Forbes’ 2024 list of Malaysia’s 50 Richest, centenarian business mogul – Robert Kuok, retained his title as Malaysia’s wealthiest person, with a net worth of US$11.5bil, down from US$11.8bil in 2023.
...