This story is part of Forbes’ coverage of Malaysia’s Richest 2026. See the full list here.

An economy that expanded 5.2% in 2025, an appreciating ringgit and a buoyant IPO market that had a total of 60 new listings last year created momentum that bolstered the collective wealth of Malaysia’s tycoons nearly 30% to $116 billion.

The wealth of the country’s richest person, business legend Robert Kuok, 102, whose Kuok Group’s interests cover a swathe of industries from agribusiness to hospitality and data centers, rose 19% to $13.6 billion.

At No. 2 for the first time are Koon Poh Keong and his siblings, the biggest gainers in dollar terms this year, whose net worth soared 80% to $9.7 billion. Shares of their Press Metal Aluminium Holdings, Southeast Asia’s largest integrated aluminum smelter by revenue, were up 73% from a year ago as the price of the metal surged.

Brothers Lee Yeow Chor and Lee Yeow Seng moved up three places to the third spot with a net worth of $8.5 billion. While palm oil producer IOI is their mainstay, the brothers have built up a substantial property portfolio, which is set to unlock value with REIT listings planned for Malaysia and Singapore.

A total of 41 listees are better off this year, including Lee Thiam Wah, founder and CEO of 99 Speed Mart Retail Holdings, whose fortune nearly doubled to $6.7 billion. Lee’s minimart chain added 259 stores in 2025 to take the total to more than 3,000 nationwide. Property tycoon Jeffrey Cheah’s wealth ballooned 76% to $5.3 billion amid notable moves by his conglomerate Sunway Group, which spun off Sunway Healthcare in March 2026, raising $732 million in the country’s largest IPO in almost a decade.

There are two new entrants to the ranks: Lee Kar Whatt, cofounder and managing director of dollar store chain Eco-Shop Marketing with more than 400 outlets across Malaysia, debuts at No. 18 with a fortune of $1.5 billion after taking his retailer public in May 2025. The Tiong family at No. 42 with $655 million consists of the heirs of Tiong Hiew King, with interests in palm oil, property and media, who died in November at age 90.

The sole returnee is Chu Jenn Weng, cofounder of ViTrox, a maker of automated vision inspection equipment for the semiconductor and electronic packaging industries. Shares of the company rallied 84% in the past year on surging demand for AI-related products.The minimum net worth rose to $422 million from $335 million.

Full Coverage of Malaysia’s Richest 2025:

Malaysian Tycoon’s Farm Fresh Dairy Outfit Is Taking On Rivals With Its ‘Grass To Glass’ Approach

Malaysia’s Lee Brothers Reap Windfall On REIT Listing Plan

Brothers Behind Southeast Asia’s Largest Aluminum Smelter Are Now Malaysia’s Second-Richest

Founder Of Malaysia’s Largest Dollar Store Chain Debuts On List Of Country’s Richest

ViTrox Cofounder Returns To The Ranks Of Malaysia’s Richest As AI Boom Fuels Demand For Chip Equipment

With reporting from Jonathan Burgos, Gloria Haraito, Anis Shakirah Mohd Muslimin, Yessar Rosendar and Jessica Tan.

This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports, analysts, government agencies and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on March 27, 2026, and private companies were valued based on similar companies that are publicly traded. Real-time net worths on Forbes.com may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives and may differ from the World’s Billionaires List, which includes individual fortunes with net worths as of February 27. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don’t reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information.

© Forbes