(Updated)

Teh Hong Piow slips on global billionaire index despite adding to wealth

Teh Hong Piow slips on global billionaire index despite adding to wealth
-A +A

KUALA LUMPUR (April 20): Public Bank Bhd founder and chairman Tan Sri Dr Teh Hong Piow has slipped three notches to number 370 on the Bloomberg Billionaires Index as of today despite adding US$302 million year-to-date (YTD) and increasing his cumulative wealth to US$7.18 billion.

As at April 9, Teh was ranked 367 on the list, but lost US$9.72 million yesterday.

He holds a 22.78% stake in Public Bank through his private investment vehicle — Consolidated Teh Holdings Sdn Bhd. He has another direct stake of 0.64%.

Meanwhile, Robert Kuok, Malaysia’s richest man, maintained his position at number 88 as his total wealth rose to US$21 billion from US$20.8 billion on April 9 after adding US$56.6 million.

YTD, Kuok, who controls businesses across Malaysia, Singapore and Hong Kong including Wilmar International, the world's largest palm oil refiner, has earned US$3.51 billion.

Meanwhile, Amazon founder and chief executive officer Jeff Bezos consolidated his top spot despite having US$1.51 billion shaved off his wealth to US$193 billion.

YTD, Bezos has added US$6.39 billion to his net worth.

Elon Musk came in second with US$183 billion after losing US$487 million, while amassing US$14.5 billion YTD.

The Bloomberg Billionaires Index is a daily ranking of the world’s 500 richest people.

The figures are updated at the close of every trading day in New York.

Read also:
Teh Hong Piow and Robert Kuok slip on billionaire index after trimming wealth
Robert Kuok and Teh Hong Piow add more to fortune
MR DIY brothers, Westports' Gnanalingam, Greatech’s Tan join Forbes Billionaires Club