Mapping Malaysia’s billionaire king
As Sultan Ibrahim rules the country, all eyes are on his business deals.
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Last Saturday, Sultan Ibrahim was installed as Malaysia’s 17th king, six months after he was sworn-in for a five-year term under the country’s rotating monarchy system.
Unlike his brethren, the Johor ruler is unique. He has no qualms flaunting his wealth. He has ties with China and Singapore, including owning prime real estate in the island republic. More importantly he doesn’t shy away from federal and state affairs.
King Ibrahim’s net worth is estimated to be around US$5.7 billion (RM26.7 billion) on the conservative end by newswire Bloomberg.
That would place him above the Teh siblings, who currently sit at No. 3 on the latest Forbes’ Malaysia’s 50 Richest list, but you wouldn’t see him there nor in any billionaires’ index.
In an oft-referenced 2015 interview with English language-daily The Star, the Johor sultan said:
“Let’s be honest here, we are a constitutional monarch. I have to earn my living like everyone else. I cannot depend on my allowances of RM27,000 a month. I must earn a living, like ordinary Malaysians.”
But he is no ordinary Malaysian.