KUALA LUMPUR, Malaysia — Ananda Krishnan, a prominent figure among Malaysia’s wealthiest, has passed away at the age of 86. Known for his extensive business interests spanning telecommunications, media, petroleum, and real estate, Ananda’s investment holding firm, Usaha Tegas, announced his peaceful passing on Thursday, while family members have requested privacy during this time. The specific cause of his death has not been disclosed.
In a statement, Usaha Tegas emphasized Ananda’s significant impact on nation-building and the corporate sector, highlighting his philanthropic efforts that have positively influenced many lives.
Forbes had listed Ananda as Malaysia’s sixth-richest individual, estimating his net worth at approximately $5.1 billion (22.6 billion ringgit). Born on April 1, 1937, Ananda was an alumnus of Harvard Business School, embarking on his professional journey in oil trading before expanding his ventures into various sectors. He held significant interests in major companies including telecommunications giant Maxis, media powerhouse Astro, satellite provider Measat, and oil services company Bumi Armada, among others.
Reports from local media indicate that Ananda accrued much of his wealth during the economic boom of the 1980s and 1990s, fostering a close relationship with former Prime Minister Mahathir Mohamad. His notable contributions included being a founding director for the state-owned oil company Petronas. According to news sources, he was instrumental in the conception of the iconic 88-story Petronas Twin Towers, which became a defining feature of the Kuala Lumpur skyline after transforming a horse racing track into this architectural marvel.
Ananda was known for his generosity, contributing notably to educational initiatives, the arts, sports, and various humanitarian causes throughout Malaysia. However, his assets suffered a significant decline in 2018, when he was implicated in a major corruption scandal involving high-ranking Indian government officials. Although arrest warrants were issued against him and his former deputy, Ralph Marshall, neither faced arrest or extradition to India for prosecution.
Despite his success and wealth, Ananda maintained a low profile, reportedly dividing his time between Malaysia and France, where he lived with his wife. His family life included a son who is a Buddhist monk in Thailand, while his two daughters have chosen not to engage in his business ventures.
Prime Minister Anwar Ibrahim expressed his condolences, recognizing Ananda’s lasting contributions to the corporate landscape, philanthropy, and society at large.