For good measure, the brothers edged out Quek Leng Chan, the patriarch of Hong Leong Group, in the latest update of the US financial media group’s ranking of Malaysia’s 50 richest tycoons.
Forbes said the Koon siblings were the biggest gainers in US dollar terms this year, with their net worth soaring 80% to US$9.7 billion (RM38.35 billion).
“Shares of Press Metal Aluminium Holdings, Southeast Asia’s largest integrated aluminum smelter by revenue, were up 73% from a year ago as the price of the metal surged,” it said in a statement today.
Press Metal was co-founded by Poh Keong, 64, who roped in several of his siblings to start an aluminum extrusion factory in 1986. Its latest annual report lists him as holding the largest stake at 34.1%.
Robert Kuok, 102, once again topped the list as his net worth rose 19% to US$13.6 billion (RM53.78 billion). The Kuok Group’s interests cover a swathe of industries from agribusiness to hospitality and data centres.
Banking and property tycoon Quek dropped from second to fifth position, with his net worth listed at US$7.5 billion (RM29.66 billion).
Brothers Lee Yeow Chor and Lee Yeow Seng, who control the IOI Group, moved up three places to the third spot with a net worth of US$8.5 billion (RM33.61 billion).
While palm oil producer IOI is their mainstay, the siblings have built up a substantial property portfolio, which is set to unlock value with real estate investment trust (REIT) listings planned for Malaysia and Singapore.
Speed Mart Retail Holdings Bhd founder and CEO Lee Thiam Wah moved up to the No 6 spot as his fortune nearly doubled to US$6.7 billion (RM26.49 billion). His minimart chain added 259 stores in 2025 to take the total to more than 3,000 nationwide.
At No 8 is property tycoon Jeffrey Cheah whose wealth ballooned 76% to US$5.3 billion (RM20.96 billion) amid notable moves by his conglomerate Sunway Bhd. The group recently spun off Sunway Healthcare, raising US$732 million (RM2.89 billion) in the country’s largest IPO in almost a decade.
Syed Mokhtar Albukhary, who controls an automotive, banking, ports and infrastructure empire, was listed at No 10 with a net worth of US$3.5 billion (RM13.84 billion).
Debuting in the Forbes list at No 18 was Lee Kar Whatt, co-founder of dollar store chain Eco-Shop Marketing Bhd, with a net worth of US$1.5 billion (RM5.93 billion).