Musk and Bezos worth half a trillion dollars, Teh Hong Piow slips further

 

Musk and Bezos worth half a trillion dollars, Teh Hong Piow slips further

KUALA LUMPUR (Oct 29): Elon Musk and Jeff Bezos collectively crossed the half trillion dollar threshold in their personal wealth, amassing a total US$501 billion on the Bloomberg Billionaires Index.

Elon Musk — who is SpaceX CEO and chief engineer, and Tesla Inc's early stage investor, CEO, and product architect — consolidated his pole position on the index with a fortune of US$302 billion.

Last week, analysts at Morgan Stanley forecasted Elon Musk to become the first trillionaire in the world from his space exploration business SpaceX.

Meanwhile, Amazon founder and CEO Jeff Bezos came in second on the list with a fortune of US$199 billion.

Veteran Malaysian banker Tan Sri Dr Teh Hong Piow slipped further on the list, dropping to rank 382, from 380 overnight, with a wealth of US$7.29 billion.

He holds a 22.78% stake in Public Bank Bhd through his private investment vehicle — Consolidated Teh Holdings Sdn Bhd. He has another direct stake of 0.64%.

Meanwhile, Malaysia’s richest man Robert Kuok was ranked the 104th richest person in the world with US$19.1 billion.

Kuok controls businesses across Malaysia, Singapore and Hong Kong including Wilmar International, the world's largest palm oil refiner.

Notably, Kuok and Teh are the only Malaysians listed on the index.

The Bloomberg Billionaires Index is a daily ranking of the world’s 500 richest people.

The figures are updated at the close of every trading day in New York.

http://www.theedgemarkets.com/article/musk-and-bezos-worth-half-trillion-dollars-teh-hong-piow-slips-further