5. Lee Shin Cheng, USD$5.4bil (RM22bil)
Tan Sri Dato’ Lee Shin Cheng (3 June 1939 – 1 June 2019) was a Malaysian business magnate, investor, and philanthropist. Lee Shin Cheng heads IOI Corporation Berhad, better known as IOI Group, as its executive chairman. IOI, which is listed on the Malaysian Stock Exchange or Bursa Malaysia, is a conglomerate managing oil palm plantations, producing specialty fats and oleochemicals, and developing property in Malaysia, Indonesia, the United States, and Europe. The IOI refinery in Rotterdam, Netherlands is the largest palm oil refinery in Europe.
IOI’s oil palm plantations in Malaysia and Indonesia produce palm oil and palm kernel oil. These oils are made into specialty oils, metallic stearates and fats that are used in soaps, detergents, cosmetics and food additives. IOI Group is a leading real estate developer in Malaysia. Projects include townships, shopping malls, condominiums, office towers, and resorts.
Lee chairs IOI Corp., the world leading in oleo-chemicals and one of the largest palm oil plantation companies in Malaysia.
His younger son leads property group IOI Properties.
He grew up on a rubber plantation where his father ran a Chinese food shop.