Generational Wealth: How Malaysia’s Richest Families Stay Rich

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While the rest of the country has been fighting about dressing ‘old money’ or ‘new money’, Malaysia’s actual old money families have been doing what they do best —staying rich. Whether we’re talking designer bags, private jets or Crazy Rich Asian level extravagance, these families have got it all (and much more!). Unlike lottery winners that go broke after a few years, Malaysia’s richest families have mastered the art of staying rich across generations.

What is their secret? Is it centuries worth of financial wisdom, ruthless business acumen or simply the unfair advantage of being born rich? (Spoiler alert: it’s mostly the latter). Keep reading to get the scoop on the ultra-rich so you too may have your slice of rich pie.

1. Build your empire

Malaysia’s wealthiest families didn’t just stumble upon their riches (at least not at the beginning). They built it by creating ever-flourishing businesses in industries like banking, real estate and telecommunications —and these aren’t random choices, they are historically proven to be industries that are the backbone of money and power. In Malaysia it almost is a rule that the richest families have a strong foothold in one (or all) of these industries.

These three industries form the ultimate trifecta of wealth, quietly dictating the flow of money and influence. Banks control funding and decide who gets it and who does not. Real estate ensures that money isn’t just stored, but grows. Prime land and property appreciates in value, brings in rental income and also acts as a collateral for bigger deals. And Telecommunications? It is the ultimate power move. It virtually touches every aspect of modern life. Whether you’re trying to make a call, turning on the TV or entering a Zoom meeting, you need telecommunications. Knowing this, the rich don’t just invest in these industries, they own it, making sure money keeps flowing in their direction no matter how the world evolves.

2. Love is great, but money is better

Being rich isn’t just about what you do but who you marry. That’s why the ultra rich tend to keep within their social circles (and that’s why Eleanour Young was so against Rachel Chu). The children of wealthy families tend to marry equally rich and powerful partners. These marriages aren’t just a union but a business merger of sorts. That’s why if you look closely, you’ll notice that Malaysia’s wealthiest don’t just marry well, they marry strategically.

And if you think this is just some farfetched theory, we would like to remind you that Ananda Krishnan who was once Malaysia’s sixth richest man was rumoured to have been married to not one but two Thai princesses. Now, we’re not here to deny or confirm any financial motive (our legal team is already sweating) but if this were true, it just proves how marriage between the rich is strategic.

3. Keeping it in the family

How to keep generational wealth? Make sure money doesn’t leave the family. Malaysia’s rich don’t just build wealth, they pass it on to their children along with the businesses that created said wealth. This means heirs are groomed from a young age to learn investments, financial management and business operations.

In some cases, succession isn’t even limited to sons and daughters, siblings, and even in-laws can be strategically placed in key positions to ensure continuity. The goal? Keep the wealth concentrated and growing, with minimal risk of outsiders taking control. After all, why let money slip away when you can keep it circulating within your own bloodline?

4. Evolve or die

Generational wealth isn’t just about keeping things the same —it’s about adapting and diversifying. While the core family businesses may remain, the ultra-rich know the importance of expanding into new areas. They invest in technology, global markets, and emerging industries to ensure their wealth doesn’t stagnate.

The wealthiest families in Malaysia understand that what worked for previous generations might not be as profitable for the next, so they continuously look for opportunities that align with global trends. This strategy of diversification ensures that generational wealth doesn’t just survive but thrives. In a rapidly changing world, sticking to the same old formula won’t work forever.

5. Be born into it

At the end of the day, the best way to get generational wealth is to be born into it. While strategic marriages, good business acumen and investments all play a role, nothing beats the unfair advantage of simply being born rich. Afterall, money makes more money.

For the ultra-wealthy, maintaining generational wealth is the way of life, but for the rest of us? Well, we can always take notes, hustle, and maybe (just maybe) break into the exclusive club of Malaysia’s richest. Or at the very least, try to score an invite to one of their ridiculous weddings.