Malaysian billionaire Ananda Krishnan, renowned for his vast business empire spanning oil, gas, telecommunications, and multimedia, has died at the age of 86, according to his private investment company. The cause of his death has not been disclosed.
Krishnan, a prominent figure in both business and philanthropy, was known for his low-key lifestyle, avoiding public attention despite his significant wealth. His global reputation grew in the 1980s when he helped finance the iconic Live Aid concert, organized by rock star Bob Geldof to raise funds for famine relief.
Starting his career with a consultancy firm, Krishnan later expanded into oil trading and the gambling industry. By the 1990s, he diversified into telecommunications and media, acquiring significant stakes in major companies such as Maxis, Malaysia’s largest telecommunications operator, and Astro Malaysia, a leading satellite broadcaster. He also had investments in India’s Aircel and Sri Lanka’s SLTMobitel.
Krishnan was influential in Malaysia’s energy sector, serving as a founding director of state-owned Petronas and playing a key role in the development of the Petronas Twin Towers in Kuala Lumpur. His close ties with former Malaysian Prime Minister Mahathir Mohamad helped shape his business dealings.
With a net worth of $5.1 billion, Krishnan was listed as Malaysia’s sixth wealthiest person by Forbes. Despite his successes, he faced legal challenges, including charges of alleged corruption in India related to Maxis’ acquisition of Aircel in 2006. The case is still ongoing, but Maxis has denied any wrongdoing.
In an unexpected twist, Krishnan’s son, Beva, rejected his inheritance, opting instead for a life of spiritual dedication. Choosing to renounce his $5 billion family fortune, Beva Krishnan became a monk, seeking a simpler, more contemplative path in life. This decision shocked many, as he chose spirituality over the vast empire his father had built, marking a stark contrast to the high-profile business legacy.
A philanthropist at heart, Krishnan made significant contributions to education, the arts, and humanitarian causes in Malaysia. He was also known for his private life, having once been married to a Thai princess and spending much of his later years in Europe.
Ananda Krishnan’s passing marks the end of an era for one of Malaysia’s most influential and enigmatic business figures. His legacy, alongside his son’s unexpected choice, will remain a significant part of the country’s economic and cultural history.
