Malaysian billionaire Ananda Krishnan, whose business empire spanned energy and telecom services, has died at the age of 86, his private investment company said on Thursday.
The self-made tycoon was a former oil trader who became one of the nation’s best-known dealmakers. In a tribute posted on X, Malaysian Prime Minister Anwar Ibrahim said Krishnan “will certainly be remembered for his contributions to the corporate world, philanthropy and society.”
Krishnan has made significant inroads in the telecom industry. In 2007, he led the acquisition of Malaysian telecommunications company Maxis and its relisting two years later. His $7 billion investment in India’s Aircel was unsuccessful and the company filed for bankruptcy in 2018 amid fierce competition.
The businessman donates to several charitable causes. In 1985, he teamed up with Irish rock star Bob Geldof to organize Live Aid. Two concerts in London and Philadelphia attracted more than 150,000 spectators and 1.5 billion television viewers, raising $70 million for famine victims.
According to the data, he has an instant net worth of US$5.1 billion, making him one of the richest people in Malaysia Forbes. In addition to Maxis, Krishnan also has stakes in cable TV operator Astro and oilfield services provider Bumi Armada, which said earlier this month it was exploring the possibility of merging its offshore energy business with state-owned shipping company MISC .
Krishnan splits his time between Malaysia and France, where he has three children. His only son is a Buddhist monk in Thailand, while his two daughters are not involved in his business.