The fifth and latest Malaysian billionaire is the co-founder of Riverstone Holdings Ltd, Wong Teek Son.
According to Bloomberg, Wong’s net worth is now a whopping USD$1.2 billion, which is around RM5 billion.
Photo via Straits Times
In April, Forbes released a list of the richest people in Malaysia and Wong was listed at number 44 with a net worth of USD$310 million, which is around RM1.2 billion - and it’s all thanks to the glove business!
Other companies in Malaysia that produce gloves (also making big bucks during this time) are Top Glove Corp and Hartalega Holdings Bhd.
The photo via The Star
According to the New Straits Times, Malaysia produces about 65% of all gloves available in the world and is expected to take in RM21.8 billion revenue from exports of gloves this year.
As of March this year, Malaysia’s total glove exports rose 16.3% year-on-year (YoY) in terms of value, while quantity increased 14% YoY.
Wow, that’s a lot of gloves!
By: Aishah Akashah Ahadiat
