The rich became poorer by RM22bil

FOR the first time in five years, the 40 wealthiest Malaysians saw their wealth decline. The total wealth of the top-40 Malaysians based on their shareholdings in listed companies dropped by RM22.4bil to RM268.1bil as of end-2018.

The decline in the value of the 40 richest Malaysians – compiled based on their effective interest in listed companies in Malaysia and overseas – came amidst a drop in the FBM KLCI of 6% due to global uncertainties. The changes in business policies that came about after the new government came to power on May 9, 2018 exacerbated the drop in the total wealth of the rich.