Top 10 Richest Individuals in Southeast Asia - Mytour.vn

The second wealthiest billionaire in Southeast Asia is Michael Hartono, who made his fortune from cigarettes and banking alongside his brother Robert Budi. Similar to his brother Robert Budi, Michael first amassed wealth from cigarettes and inherited the family tobacco and cigarette manufacturing business, Djarum, then through acquiring stakes in Indonesia's largest private bank, Bank Central Asia. In addition to the aforementioned businesses, the Djarum group also controls several shopping centers and buildings in Jakarta, including Grand Indonesia, Hotel Indonesia, and the BCA Tower.

His company also ventures into the Internet sector, controlling the e-commerce website Blibli.com and one of Indonesia's largest online communities, Kaskus. A renowned philanthropist like his brother, Michael established the Djarum Foundation in 1986, a non-profit organization contributing to education, environment, sports, and culture, now run by Michael's grandson, Victor Hartono. Michael is also known locally as an excellent Bridge player and has won numerous awards in global competitions, including the 2018 Asian Games in Jakarta.

Net Worth: $23.1 billion

Nationality: Indonesian

Indonesian billionaire Budi Hartono is the wealthiest individual in Southeast Asia, he owns and operates Hartono Holdings alongside his brother, Michael. Alongside his brother Michael (see below), Budi Hartono owns and operates Hartono Holdings, a family conglomerate with interests spanning across finance, real estate, and technology. Budi earned his first fortune from cigarettes, inheriting the family cigarette company from his father at the age of 22. Budi and his family still run Djarum, the world's third-largest clove cigarette producer.

However, billionaire Robert Budi Hartono has predominantly accumulated his wealth from one of Indonesia's largest banks, Bank Central Asia, a bank he and his brother held stakes in during the Asian economic crisis of 1997-98. Among other investments, Budi has acquired stakes in the electronics brand Polytron, real estate in Jakarta, and the technology startup Global Digital Niaga, which raised $510 million last year, becoming Indonesia's second-largest IPO in 2022.

Net Worth: $24.2 billion

Nationality: Indonesia

Business magnate Dhanin Chearavanont is one of the wealthiest individuals globally. His family owns well-established businesses not only in Thailand but also in several countries including China and the United States. According to Forbes, he ranks as the 5th richest person in Southeast Asia and the second richest in Thailand with a net worth of 13.5 billion USD. This net worth figure has nearly multiplied by 13 times from his 2009 valuation, which stood at 1.3 billion USD.

As the son of a Chinese immigrant, Dhanin Chearavanont was born in Bangkok on April 19, 1939. His father, Chia Ek Chor, started a business in seeds and agricultural chemicals. Despite being the fourth son and the youngest, he had the qualities to be chosen as the successor to manage the family business. Through the application of new technologies, he expanded and diversified the family business not only in Thailand but also overseas, particularly in China and Southeast Asian countries.

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Net Worth: 14.9 billion USD

Nationality: Thailand

The third richest individual in Southeast Asia is Li Xiting, the founder and chairman of Shenzhen Mindray Bio-Medical Electronics, a medical equipment supplier. Headquartered in Shenzhen, the company manufactures health monitoring systems, ventilators, defibrillators, anesthesia machines, and infusion systems, and is the first Chinese medical equipment company listed on the New York Stock Exchange. During the Covid-19 pandemic, Mindray donated medical equipment worth $4.6 million to hospitals in heavily affected areas such as Wuhan and northern Italy.

Proud of its global presence, Mindray states on its website that they have 39 subsidiaries and serve over 190 countries and regions worldwide. It currently employs over 10,000 staff from 30 countries, with a quarter of them being R&D experts exploring the most advanced medical technologies. According to Forbes, Mr. Li Xiting was the richest person in Singapore in 2021. In 2022, he remains the richest in Singapore on Forbes' annual world billionaire list for 2022, but dropped from 82nd to 94th place.

Net Worth: $16.3 billion

Nationality: China

Renowned Singaporean billionaire Goh Cheng Liang, widely known as the 'paint tycoon', has amassed much of his wealth from holding a significant stake in Japan's Nippon Paint Holdings, the world's fourth-largest paint manufacturer by revenue. In 2020, he increased his ownership stake in the Tokyo-listed company to 58.7%.

Goh Cheng has had a long-standing collaboration with Nippon Paint since 1962 when he helped them expand into Southeast Asia, becoming the regional franchise owner of Nippon Paint (Nippon Paint Southeast Asia Group). Under his leadership, the franchise business skyrocketed, becoming the largest paint manufacturer in Asia. His son currently serves as the chairman of Nippon Paint. In the late 1970s, he founded and built Wuthelam Holdings Group, while also diversifying into real estate, electronics, logistics, manufacturing, and trading.

Billionaire Goh Cheng rose from humble beginnings, starting his life selling fishing nets and tapping rubber, venturing into paint for the first time after World War II, buying surplus paint from the British military and transitioning to a local paint brand he called Pigeon. A notable philanthropist, among his many charitable endeavors, Goh donated $37 million to the National Cancer Centre Singapore for medical research.

Net Worth: $14.3 billion

Nationality: Singapore

Thailand's F&B mogul, ranking seventh richest in Southeast Asia, Charoen Sirivadhanabhakdi, is renowned for Chang beer. Born to a Bangkok street food vendor, it's no surprise Charoen Sirivadhanabhakdi made his fortune in F&B. The Thai business magnate and investor is the founder and chairman of TCC Group, a conglomerate of beverages, retail, and real estate, one of Thailand's largest and leading conglomerates.

Among Charoen Sirivadhanabhakdi's many companies, perhaps the most significant is Thai Beverage, the country's largest beer producer, founded by Charoen himself, most notably known for Chang beer (which he established in the early 1990s). Today, ThaiBev produces and distributes nearly 60 types of beer and spirits. Charoen began his career supplying distilleries that created Thailand's local whisky brand before obtaining his own alcohol production license.

Charoen also has interests in retail and real estate. He owns Big C Supercenter, a hypermarket he acquired in 2006, and private real estate unit Asset World Corp, which he listed in 2019, boasting a portfolio of 19 hotels. He has received numerous honors for his contributions to the Thai industry, including the highest royal honor of Grand Cross Knight Commander.

Net Worth: $14.8 billion

Nationality: Thailand

Renowned Malaysian tycoon Robert Kuok, known as the 'sugar king', holds the title of being the oldest in the list of Southeast Asia's wealthiest individuals at 99 years old. The business magnate and investor Robert Kuok is Malaysia's wealthiest individual. As the founder of the Kuok Group, now a multinational conglomerate, he holds various interests across the region in sectors including agriculture, logistics, shipping, finance, hospitality, and real estate.

Tycoon Robert Kuok established The Kuok Group in 1949, successfully venturing into rice, sugar, and wheat businesses, earning him the moniker 'sugar king' - he once controlled 10% of the world's sugar market. His largest wealth source comes from Wilmar International, a leading agricultural business in Asia and Africa, which Kuok co-founded over 20 years ago and still holds valuable stakes in (currently overseen by his grandson). He also owns PPB Group Berhad, an agriculture conglomerate based in Kuala Lumpur, founded by him in the late 60s and now a listed real estate and investment company; and Kerry Holdings, an investment company based in Hong Kong.

However, Robert Kuok is internationally renowned for founding the globally renowned Shangri-La Hotels and Resorts chain in Singapore in the early 70s. He also owns various media assets, including the South China Morning Post. Kuok, who has been a resident of Hong Kong since the 70s, has focused on combating poverty and hunger since the 70s through the Kuok Foundation, an organization providing scholarships and grants to educational institutions as well as establishing numerous non-profit hospitals.

Net Worth: $11.8 billion

Country: Malaysia

The eighth wealthiest individual in Southeast Asia, Sarath Ratanavadi serves as the Chief Executive Officer of Gulf Energy Development. Holding this position in one of Thailand's leading energy companies has enabled him to amass his wealth. Established by Sarath in 2007, Gulf Energy has grown from Sarath's initial company, Gulf Power Company Limited, founded in 1994 at the age of 29 after completing his engineering degree. Gulf Energy Development has become Thailand's largest private power producer and includes over 50 subsidiaries and affiliated companies operating more than 30 power projects as well as other business activities.

Sarath Ratanavadi, the billionaire, took his company public in 2017, marking the country's largest IPO in a decade and has continued to expand business operations abroad, recently acquiring a 49% stake in a US power plant, as well as diversifying into new ventures including cryptocurrency and data centers. Through various initiatives, he has made significant contributions to social development, particularly focusing on education, healthcare, and sports. He holds a degree in engineering management.

Net Worth: $12.3 billion

Country: Thailand

Quek Leng Chan co-founded Hong Leong Company in Malaysia in 1963 as a construction materials business. He ranks as the second richest in Malaysia and the tenth in Southeast Asia in Forbes' 2022 list, with an estimated wealth of 10.6 billion USD. He inherited part of his wealth from his father, one of three siblings who founded a banking group in the 1920s. His cousin, Kwek Leng Beng, is also a billionaire and chairs the Hong Leong Group in Singapore. In 2018, Quek Leng Chan ranked 217th on Forbes' World Billionaires list, with a net worth of 7.2 billion USD, which increased to 10.6 billion USD by 2022.

The privately-held company led by billionaire Quek Leng Chan as executive chairman now has 13 listed subsidiaries and employs around 35,000 people. It has expanded into businesses including food, real estate, and finance. One of its main business activities is Hong Leong Bank, the fourth largest banking group in Malaysia by market capitalization and fifth largest by assets. Quek is a former lawyer from Middle Temple, London. His cousin, billionaire Kwek Leng Beng, chairs the Hong Leong Group in Singapore.

Net Worth: 10.1 billion USD

Country: Malaysia