Genting Group Chairman and CEO Lim Kok Thay climbed from ninth place in 2022 to eighth in 2023 on the latest Forbes list of Malaysia’s 50 richest, buoyed by the ongoing recovery of the global gaming industry.
Lim’s rise came despite his personal wealth falling slightly, from US$2.35 billion last year to US$2.3 billion according to Forbes, in part from the collapse of his cruise ship firm Genting Hong Kong. Nevertheless, he continues to sit high on the list due to the strength of his casino and integrated resort assets in Malaysia, home of Resorts World Genting, and Singapore, home to Resorts World Sentosa, plus his global interests in the US and Europe.
Lim, who was last year named at No.2 on IAG’s own Asian Gaming Power 50 list, wasn’t the highest placed gaming identity on the Forbes Malaysia list, with NagaCorp founder Chen Lip Keong sitting one place higher in seventh. Dr Chen, whose company runs Phnom Phen’s monopoly integrated resort, NagaWorld, saw his fortune increase from US$2.7 billion to US$2.8 billion in 2023 although his position remains unchanged.
This year’s list was again topped by business mogul Robert Kuok, who is due to turn 100 in April, with a US$11.8 billion fortune, closely followed by Quek Leng Chan with US$10.2 billion.
Forbes said the minimum fortune required to make this year’s list had grown to US$315 million, with the collective wealth of all 50 rising from US$80.5 billion to US$81.6 billion.
The full list can be viewed here.
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