Malaysian business tycoon Ananda Krishnan, known for his contributions to the media, telecoms, and oil industries, has passed away at the age of 86. The news of his death was confirmed by his companies, although the cause of death has not been disclosed.
Ananda Krishnan was the founder of Maxis Bhd, the second-largest mobile operator in Malaysia, as well as Astro Malaysia Holdings Bhd, the leading broadcasting and media company in the country. He also held a significant stake in Bumi Armada Bhd, an oil field services provider, through Objektif Bersatu and investment firm Usaha Tegas.
With a net worth estimated at $5 billion, Ananda Krishnan was ranked as the third richest person in Malaysia by Forbes earlier this year. He leaves behind two daughters and a son, who has made headlines for his decision to become a Buddhist monk and relinquish his inheritance.
In a statement, Usaha Tegas, the investment firm owned by Ananda Krishnan, paid tribute to his contributions to nation-building and the corporate world. They requested privacy for the family during this time of mourning.
Born into a middle-class family in Brickfields, Ananda Krishnan was educated at Harvard Business School. He built his fortune in the oil and gambling industries before diversifying into media and telecoms. His business interests included Astro, Maxis, MEASAT, Johnston Press, TGV, and Celestial Pictures.
Despite his immense wealth and influence, Ananda Krishnan was known for his low profile and avoidance of personal publicity. He was recognized by Variety as one of the most powerful figures in the media industry in both 2017 and 2018.
Ananda Krishnan also owned Aircel, a former telecommunications company that sponsored the Indian Premier League team Chennai Super Kings before going bankrupt.
The legacy of Ananda Krishnan in the business world and his impact on the media, telecoms, and oil sectors will be remembered by many. His passing marks the end of an era for Malaysian entrepreneurship and innovation.
