⬅ # 287 Joe Gebbia|# 289 Alexander Otto

# 288 Quek Leng Chan 

$8.72B

Real Time Net Worth
as of 6/24/2024
-$213 (-0.00%)

# 288 Quek Leng Chan 

$8.72B

Real Time Net Worth
as of 6/24/2024
-$213 (-0.00%)
OccupationCofounder, Hong Leong Group
Source of WealthBanking, Property
Age82
ResidenceKuala Lumpur, Malaysia
Marital StatusMarried
Children3
EducationLLB, Middle Temple
Age-Adjusted Net Worth$1.97B
Quek Leng Chan
Quek Leng Chan
Malaysia
Net worth: $8.72B

Self-Made Score 

Wealth History

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Biography

Early Life and Family

Tan Sri Quek Leng Chan was born on December 8, 1941 in Malaysia
Inherited part of his fortune from his father, who was one of the three brothers that founded a banking group in the 1920s
Cousin: Kwek Leng Beng, who is also a billionaire and chairs Hong Leong Group in Singapore

Career Highlights

Co-founded Hong Leong Group Malaysia
Executive Chairman of privately held Hong Leong Co. (Malaysia)
Chairman and CEO of Hong Leong Company (Malaysia) Berhad, Hong Leong Industries Berhad, Hume Industries (Malaysia) Berhad, Hong Leong Financial Group Berhad, GuocoLand (Malaysia) Berhad, Camerlin Group Berhad
Chairman of Hong Leong Bank Berhad, HLG Capital Berhad, Hong Leong Assurance Berhad, Hong Leong Islamic Bank Berhad, and Hong Leong Foundation

Business Sectors

Extensive business experience in financial services, manufacturing, and real estate
Oversees Malaysian operations of the Hong Leong Group

Appointments

In September 2022, appointed Chairman of the board of the real estate company GuocoLand Ltd.

How long would it take you to become as rich as Quek Leng Chan?

If you started with $10,000 and invested an additional $500 each month at a 44.13% CAGR, it would take you 5 years to reach Quek Leng Chan's net worth of $8.72B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 48.35% compared to 16.28% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Quek Leng Chan is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Quek Leng Chan, Banking and Property are the primary sources. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Edited by: Lee Bailey