Celebrating Ananda Krishnan: 5 lesser-known facts on the late 6th richest M’sian billionaire

Malaysia’s sixth richest man Ananda Krishnan has died on November 28, 2024 at the age of 86.

At the time of his death, he was estimated to have a net worth of US$5.1 billion according to Forbes, making him the 671st wealthiest person in the world.

His wealth was primarily accumulated through his role as the founder and chairperson of Usaha Tegas, the founder of Astro Malaysia Holdings, as well as the founder of Yu Cai Foundation (YCF).

A notable and forward-thinking businessman, Ananda was one of few who moved out of the old economy of oil trading and property development to the new economy of telecommunications and entertainment. Aside from Astro, his multimedia empire also includes Maxis, MEASAT, and many more.

Despite his stature, Ananda Krishnan is known to be a reclusive individual, often shunning public exposure and opting for a low profile instead.

As such, little is known about his personal life beyond his business. But as we celebrate his life and legacy, here are some lesser-known facts about the Malaysian businessman that have emerged over the years.

1. He majored in political science

Although his affinity seems to lie in business, Krishnan actually has a deep interest in politics, and actually got his Bachelors of Arts degree majoring in political science. 

When he became a founding director of national energy giant Petronas in the 1970s, Krishnan forged close ties with our country’s political elite, such as former prime minister Mahathir Mohamad.

2. He played a role in the establishment of Petronas Twin Towers

The businessman supposedly played a pivotal role in the development of iconic landmarks such as the Petronas Twin Towers.

He apparently sold Dr Mahathir the idea of building the twin towers in the early 1990s.

The Edge reported that Tun M then handpicked Ananda Krishnan to lead the development of the Petronas Twin Tower and the surrounding KLCC development.

3. His son is a Buddhist monk that renounced his wealth

Krishnan was actually a follower of Buddhism, a belief that his only son, Ven Ajahn Siripanyo, followed. Siripanyo actually made the decision to become a Theravada Buddhist monk at the age of 18, The Economic Times reported.

He is one of two children from Krishnan’s first marriage to a Thai princess.

For over two decades, Ven Ajahn Siripanyo has been living as a forest monk, primarily based at the Dtao Dum Monastery near the Thailand-Myanmar border.

It’s unclear who will inherit the billionaire’s wealth, but it likely would not be Siripanyo.

4. He gained popularity through Live Aid

It’s said that Krishnan first came to public prominence by helping to organise the Live Aid concert in the mid-1980s. 

Live Aid is a legendary charity concert, put together by Irish rock star Bob Geldof.

A multi-venue benefit concert, the 1985 concert sought to raise further funds for relief of the 1983–1985 famine in Ethiopia.

According to Forbes, Krishnan raised US$240 million for the concert and cause.

5. He’s recognised as a notable philanthropist

As presented in the previous point, the billionaire was quite the charitable man.

Aside from Live Aid, Ananda Krishnan donated to education, the arts, sports, and humanitarian causes in Malaysia through his company Usaha Tegas, and its subsidiaries.

Specifically, Krishnan’s Usaha Tegas launched the Harapan Nusantara education fund, which has sponsored 100 students a year since 2004 to attend special programmes at local private universities that collaborate with foreign universities.

There’s also the Yu Cai Education Foundation with a grant of US$6.6 million to help ethnic Chinese groups. Astro also had a scholarship programme that devoted an annual RM2 million to support promising Malaysian undergraduate and graduate students studying media and broadcasting.

All of these—along with numerous other initiatives, is why Krishnan was recognised on the Forbes list of Asia’s Heroes of Philanthropy in 2010.

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Of course, the billionaire’s life wasn’t unmarred by criticisms, having been involved in various scandals of alleged corruptions as well as reported bailout of 1MDB, among other issues.

Regardless, there’s no two ways about it—Ananda Krishnan has left not just a mark on Malaysia’s business world, but on the very fabric of our nation.

His businesses are household names that many of us rely on every day. His work is quite literally marked in our capital city’s skyline. His charitable efforts have impacted more lives than many of us could ever fathom.

Although Krishnan was always a private figure, his acts of service greatly benefited the Malaysian public. May he rest in peace.

Featured Image Credit: Bernama