MALAYSIA, 04/04/2024 (Asia News Channels) - Hotel and real estate titan Robert Kuok has secured his position on the Forbes 2024 Billionaires list, ranking at 176 with a net worth of US$11.4 billion, underscoring his status as Malaysia's wealthiest individual. The list also features other Malaysian magnates such as Quek Leng Chan of Hong Leong, positioned at 287 with a fortune of US$8.8 billion, and entrepreneur Ananda Krishnan, who ranks 624th with assets worth US$4.9 billion.
According to Forbes, over the last year, Kuok experienced a decline in his net worth by US$400 million, reflecting a broader trend among East Asian billionaires who have seen a downturn in their fortunes.
Despite these shifts, the global count of billionaires has reached a new high, with 2,781 individuals making the list — an increase of 141 from the previous year and surpassing the record established in 2021 by 26 billionaires. Collectively, these magnates hold an unprecedented aggregate wealth of US$14.2 trillion, marking an increase of US$2 trillion from 2023 and exceeding the prior peak by US$1.1 trillion set in 2021.
The upper echelons of the list remain dominated by tech industry leaders such as Elon Musk, Jeff Bezos, and Mark Zuckerberg, with net worths of US$195 billion, US$194 billion, and US$177 billion, respectively. However, the title of the wealthiest individual for this year is claimed by Bernard Arnault of LVMH and his family, boasting a combined net worth of US$233 billion, highlighting the vast fortunes amassed in the technology and luxury goods sectors.
-- ASIA NEWS CHANNELS