Tan Sri Ananda Krishnan, one of Malaysia’s most powerful and wealthy icons, passed away on Thursday, November 28, 2024, at the age of 86. T Ananda Krishnan was a billionaire whose empire included the areas of telecommunications, oil, and gas. His cause of death remains uncertain as of now. The Malaysian Prime Minister, Anwar Ibrahim noted on the social media platform X, remembering Krishnan as a soul whose contributions to the corporate world through his philanthropy would always be cherished. To know more about Ananda Krishnan’s Net Worth, his family, and other important details, continue reading.
Early Life of Ananda Krishnan
Ananda Krishnan, a Malaysian businessman and philanthropist, was born on April 1, 1938, in Brickfields, Kuala Lumpur. This place is also known as “Little India” due to the large number of Indian people residing there and their growing businesses. Krishnan was the son of a civil official who relocated from Sri Lanka to then-British Malaya and grew up in Kuala Lumpur. Ananda then attended the University of Melbourne. He earned a Masters in Business Administration from Harvard Business School in 1964. Net Worth of Ananda Krishnan
According to Forbes, his business empire comprises telecom, satellites, oil, gas, and real estate sectors. He also owns Aircel, the now-defunct phone firm that used to sponsor the Indian Premier League (IPL) franchise Chennai Super Kings at a time. Krishnan, who split his time between Malaysia and France, survived three children. Forbes described Ananda Krishnan as a self-made tycoon. He moved from oil trader to one of the country’s most notable dealmakers. According to Reuters, he was low-profile. But, in the mid-1980s, he rose to fame for helping to finance the Live Aid event organized by rock star Bob Geldof. The concerts in London and Philadelphia, with over 150,000 attendees and 1.5 billion TV watchers, raised $70 million for hunger victims.
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Ananda Krishnan’s Net Worth
As a young entrepreneur, he started a business consultancy before moving into oil trading and gambling. During the 1990s, he expanded into multimedia businesses as well. His interests extended from oil and gas to telecoms. He owned a large stake in Bumi Armada Bhd, an oil field services company. His holdings were through Objektif Bersatu and Usaha Tegas, an investment firm. Ananda Krishnan founded Maxis Bhd, Malaysia’s second-largest mobile operator, and Astro Malaysia Holdings Bhd, the top media firm, according to Variety. In 2007, he spearheaded the takeover of Malaysian telecom major Maxis, which was relisted two years later.
Ananda was a founding director of Petronas, the state oil corporation. He had a close relationship with Mahathir Mohamad, the former prime minister. In the early 1990s, he sold Mahathir on the idea of building the 88-story Petronas Twin Towers.
He rose to prominence after being charged by India in 2014 with suspected wrongdoing in his role in Maxis’ acquisition of Aircel in 2006. Maxis has denied any wrongdoing. The judicial case is still ongoing. The Edge Malaysia says Ananda made most of his riches in the 1980s and 1990s. This made him close to former Prime Minister Tun Dr Mahathir Mohamed. Forbes ranked Ananda Krishnan as Malaysia’s sixth wealthiest person, with a net worth of $5.1 billion. He has donated tens of millions to Malaysian art, education, sports, and humanitarian causes. He used his holding company, Usaha Tegas, and its three main, publicly traded subsidiaries: Maxis, a cell phone operator; Astro All Asia Networks, a satellite TV and entertainment firm; and Tanjong, a gaming, power, and real estate company. Aside from Maxis, Krishnan owns stakes in Astro and Bumi Armada. Forbes says Bumi Armada is seeking a merger with MISC’s offshore energy unit.
Death of Ananda Krishnan
On November 28, 2024, Ananda Krishnan passed away at the age of 86. His firm, Usaha Tegas, stated that he passed away peacefully and that his family sought privacy. It did not mention the reason for death. The firm also noted his philanthropy. It has helped the country and the corporate world.
Ananda Krishnan had recently made headlines again. His son, Ajahn Siripanyo, gave up the world’s wealth to become a humble Buddhist monk. Ananda, who had previously married a Thai princess, spent the majority of his later years in Europe. Despite his success, Ananda avoided the spotlight, moving between Malaysia and France with his wife, according to local media.
One-of-a-Kind Monk
His lone son, Ven Ajahn Siripanyo is a Buddhist monk in Thailand. He made the unique decision of letting go of his $5 billion legacy and endorsing monkhood at the prime age of 18. He wanted to honor his mother’s wishes and retreated to a monastery in Thailand. After spending a considerable amount of time there, he decided to take up monkhood permanently. After spending almost 2 decades there, he holds the status of abbot of the Dtao Dum Monastery. Ananda’s two daughters are not connected with his businesses.
Although Siripanyo resembles much of the fictitious character of The Monk Who Sold His Ferrari, in reality, he has made a unique decision to bend the cutthroat corporate world into one of a selfless, peaceful abode by displaying immense grace as someone who comes from royalty and tremendous wealth. It only showcases the values of his late father and his mother, who are also exemplary personas in the world of billionaires.
Despite his monastic existence, Siripanyo periodically reconnects with his family, demonstrating Buddhist teachings about the value of familial bonds. At times he does employ his private jets to make a family tour. His father had also bought him a spiritual retreat during one of his tours in Malaysia.
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