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Close Up 5 Of The Youngest Billionaires On Forbes' Malaysia's Richest List 2020

5 Of The Youngest Billionaires On Forbes' Malaysia's Richest List 2020

5 Of The Youngest Billionaires On Forbes' Malaysia's Richest List 2020
By Tania Jayatilaka
By Tania Jayatilaka
April 22, 2020

From palm oil magnates to internet tech titans, meet the 5 youngest Malaysians to be featured on Forbes' list of the nation's richest

Patrick Grove

  • Net worth: US$465 million (about RM2 billion)
  • Age: 44
  • Industry: E-commerce, media

The co-founder and group CEO of Catcha Group is one of the region’s savviest internet entrepreneurs. Considered by many to be the pioneer of Malaysia’s digital economy, Grove is the driving force behind streaming service iflix, automative portal iCar Asia and media company Rev Asia; he also founded iProperty, Southeast Asia's leading property portal, which he sold in 2015.

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The entrepreneur also spearheads the annual Wild Digital tech conference, connecting Southeast Asia’s leading tech entrepreneurs towards collaboration and knowledge-sharing. Grove is also a member of Gen.T Tatler Tribe this year.

He ranks at #33 among Malaysia’s 50 richest on Forbes.

Datuk Loh Kian Chong

  • Net worth: US$355 million (about RM1.6 billion)
  • Age: 43
  • Industry: Palm oil, property development, automotive

Ranked as the 39th richest man in Malaysia, Datuk Loh Kian Chong is the youngest on the list. He helms Penang-based conglomerate Oriental Holdings as its executive chairman, continuing the legacy of his late grandfather, automotive magnate Tan Sri Dato’ Loh Boon Siew – dubbed ‘Mr. Honda’ in Malaysia.

Oriental Holdings’ various business interests also include property development, palm oil plantations and healthcare.   

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Wong Thean Soon

  • Net worth: US$340 million (about RM1.5 billion)
  • Age: 48
  • Industry: Electronic services

In 2000, Wong Thean Soon co-founded public-listed electronic government services provider MYEG Services, which he still heads today as managing director.

Better known as TS Wong, the self-made internet developer is ranked by Forbes at #40 among Malaysia’s richest individuals, and is also a founding board member of Endeavour Malaysia.

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Chu Jenn Weng

  • Net worth: US$280 million (about RM1.2 billion)
  • Age: 50
  • Industry: Automated test equipment 

Ranked at #47 on Forbes' list is Chu Jenn Weng, co-founder and CEO of ViTrox, Malaysia’s leading provider of automated vision inspection equipment for the semiconductor and electronic packaging industries.

With two co-founders and just RM20,000 in capital, Chu launched ViTrox which was publicly listed in 2004 and now operates in over 22 countries around the world.   

Must-read: How The World's Richest Are Responding To The Covid-19 Pandemic

Oh Kuang Eng

  • Net worth: US$255 million (RM1.1 billion)
  • Age: 50
  • Industry: Processing equipment

This former Hewlett-Packard automation engineer started his own industrial automation company in 1999, designing and manufacturing automated machines for semiconductor, electronics and electrical industries.

DPE was his next big venture and today, he is group CEO of Mi Technovation, operating in Malaysia, Suzhou, Taiwan and the US. Oh currently ranks at #50 on Forbes' list of richest Malaysians. 

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