Cover image via 
Follow us on Instagram, TikTok, and WhatsApp for the latest stories and breaking news.
A booming economy and a stronger ringgit have significantly boosted the collective wealth of Malaysia's top business tycoons this year
According to the 2026 Forbes list, the combined wealth of the top 50 tycoons rose nearly 30% to USD116 billion (RM459 billion).
The jump, driven by a robust stock market, marks a significant increase from USD90 billion (RM356 billion) last year.
The rankings were calculated based on stock prices and exchange rates as of market close on 27 March 2026.
Robert Kuok remains Malaysia's richest person with a net worth of USD13.6 billion (RM53.83 billion). At 102, Kuok commands a vast business empire spanning agriculture to data centres.
Kuok saw his net worth rise by 19% this year.
Meanwhile, Tan Sri Paul Koon Poh Keong and his siblings have moved into the second spot for the first time.
The Koon family recorded a net worth of USD9.7 billion (RM38.39 billion), edging out Hong Leong Group patriarch Tan Sri Quek Leng Chan.
The sharp 80% increase in wealth for Koon was largely driven by the rising share price of Press Metal Aluminium Holdings Berhad (PMETAL). The company is currently Southeast Asia's largest aluminium smelter by revenue.
Brothers Datuk Lee Yeow Chor and Datuk Lee Yeow Seng took third place on the list, with a combined net worth of USD8.5 billion (RM33.64 billion).
The Lee brothers lead IOI Corporation Berhad (IOICORP). The palm oil producer is also planning to spin off several properties into real estate investment trusts in Malaysia and Singapore.
Tan Sri Dr Jeffrey Cheah Fook Ling saw his wealth surge 76% to USD5.3 billion (RM20.98 billion). He founded Sunway Berhad which benefited from strong performance following a major listing exercise.
In March, the group spun off Sunway Healthcare Holdings Berhad. The listing raised RM2.86 billion, marking the largest IPO in Malaysia in nearly a decade.
The list also welcomed Datuk Seri Lee Kar Whatt for the first time. He is the managing director of the popular dollar store chain, Eco-Shop Marketing Berhad.
