KUALA LUMPUR – Ananda Krishnan, the enigmatic billionaire known for his transformative business ventures and philanthropy, passed away on Nov 28 at the age of 86. His investment holding company announced the news, praising his contributions to Malaysia’s growth and his extensive charitable work, which left a profound impact.
Born on April 1, 1938, in Kuala Lumpur to a Sri Lankan-origin family, Ananda rose from humble beginnings to become one of Malaysia’s most influential figures. Educated through the Colombo Plan and later earning an MBA from Harvard University, he launched his career in oil trading, eventually helping establish Malaysia’s national oil company, Petronas.
Ananda’s entrepreneurial ventures spanned petroleum, entertainment, telecommunications, gambling, and real estate. Notable achievements include founding Maxis, Malaysia’s leading telecommunications provider, and Astro Malaysia Holdings, which dominates the country’s media landscape. His vision also shaped Kuala Lumpur’s skyline through the development of the iconic Petronas Towers.
A close ally of former Prime Minister Tun Dr Mahathir Mohamad, Ananda benefited from opportunities under Mahathir’s leadership, securing licenses for various industries and turning a former racecourse into a vibrant urban center.
Despite setbacks, such as a failed investment in India’s mobile market that cost him $7 billion, Ananda’s business acumen earned him a net worth of $3.8 billion as of August 2024. He maintained a low profile throughout his life, often shunning public attention.
Ananda was also a noted philanthropist. He famously co-organized the 1985 Live Aid concert with Bob Geldof, raising $70 million for famine victims. In 2015, he founded the Yu Cai Foundation to support educational development in Malaysia.
His legacy of innovation, resilience, and quiet generosity will continue to inspire future generations. Ananda Krishnan is survived by his extensive business empire and the many lives he touched through his charitable endeavors.