Malaysia (Commonwealth Union)_ Ananda Krishnan, Malaysia’s sixth richest billionaire, passed away on November 28, 2024, in the Swiss Alps at the age of 86. Affectionately called by his initials, AK, Tan Sri Ananda Krishnan was a self-made billionaire whose exceptional business acumen and philanthropic spirit made him one of the most influential figures in Southeast Asia. At the time of his passing, Krishnan’s estimated net worth stood at US$5.1 billion, placing him 671st on the global wealth rankings. His legacy, spanning both business and charity, continues to resonate within Malaysia and beyond.
Also read: British-Indian kid shatters IQ records of Einstein and Hawking!
Early life and education
Krishnan, born into a Sri Lankan family, grew up in Kuala Lumpur following his father’s transfer as a senior officer during British colonial rule to Malaysia. His academic journey began with a Bachelor of Arts in Political Science, followed by a Master’s degree in Business Administration (MBA) from the prestigious Harvard Business School in 1964. After completing his studies, Krishnan returned to Malaysia, where he embarked on a career that would establish him as one of the nation’s wealthiest and most influential businessmen. Krishnan’s rise to prominence started in the mid-1980s, when he ventured into the entertainment and telecommunications industries. His breakthrough came through his involvement in the Live Aid concert, a legendary event organized by Irish musician Bob Geldof in 1985 to raise funds for famine relief in Ethiopia. Krishnan played a pivotal role in organizing the event, which raised an astonishing US$240 million, marking his first major public philanthropic effort.
Also read: Indian-Americans Rally Against Rising Attacks on Hindus in Canada and Bangladesh
Building his empire
By the early 1990s, Ananda Krishnan had built an impressive business empire, particularly in the telecommunications and satellite sectors. He founded Maxis Communications, which would become Malaysia’s largest telecom provider, and established MEASAT Broadcast Network Systems, a satellite broadcasting company. Additionally, Krishnan’s ventures extended internationally, with significant investments in India’s Aircel and Sri Lanka’s SLTMobitel telecom providers. Krishnan’s dominance in the telecommunications field also extended to the skies, as he owned three communication satellites in orbit, reinforcing his status as a global leader in satellite technology. His company, SES World Skies, became a prominent player in the satellite communications market, further expanding his business footprint.
Moreover, Krishnan’s company, Usaha Tegas, underpinned his vast wealth. Through this conglomerate, he controlled interests in numerous other industries, including oil, media, and entertainment. One of his notable contributions was his involvement in the development of the iconic Petronas Twin Towers, the world’s tallest twin skyscrapers. It is said that Krishnan, a close ally of former Prime Minister Mahathir Mohamad, played a pivotal role in convincing Mahathir to construct the towers, which now symbolize Malaysia’s economic success and modernization.
Also read: Indian-American Scholar Unravels the Secrets of the Pyramids
Philanthropy – Power of Giving
Despite his immense wealth, Ananda Krishnan was known for his low-key public profile, preferring to stay out of the media spotlight. However, his philanthropic efforts were undeniable. Krishnan’s charitable endeavors were extensive, with significant contributions to causes such as education, the arts, sports, and humanitarian efforts. He funded numerous initiatives through his YCF charitable foundation, which supported a variety of local and international causes. One of Krishnan’s most notable philanthropic projects was the creation of the Harapan Nusantara education fund, launched by his company Usaha Tegas. Since 2004, the fund has sponsored 100 students annually to attend special programs at local private universities partnered with foreign institutions.
Additionally, the Yu Cai Education Foundation, with a grant of US$6.6 million, aimed to support ethnic Chinese educational groups in Malaysia. His company, Astro Malaysia, also contributed to education by dedicating RM2 million annually for scholarships aimed at promising undergraduate and graduate students studying media and broadcasting. Krishnan’s commitment to education extended beyond these initiatives. His investments in the sector reflected his belief in giving back to society and providing opportunities for future generations. His commitment to philanthropy earned him recognition on Forbes’ list of Asia’s Heroes of Philanthropy in 2010, cementing his legacy as a leading figure in both business and charity.
Family and personal life
In his personal life, Ananda Krishnan married Momwajarongse Suprinda Chakraban, a Thai princess, with whom he had one son, Ven Ajahn Siripanyo, and two daughters. Despite his vast fortune, Krishnan was known for his private nature, often preferring to keep out of the public eye. His son, Ven Ajahn Siripanyo, chose a unique path in life, becoming a Theravada Buddhist monk at the age of 18. For over two decades, Siripanyo has lived as a forest monk, primarily based at the Dtao Dum Monastery near the Thailand-Myanmar border. While it is unclear who will inherit Krishnan’s wealth, it is likely that his business empire will continue to play a significant role in Malaysia’s economic landscape. His son, Siripanyo, is unlikely to assume control of the business, given his monastic commitments. Nonetheless, Krishnan’s legacy will likely endure through his business ventures and charitable endeavors.
End of an era
Ananda Krishnan’s passing marks the end of an era for Malaysia’s business community. His remarkable achievements in telecommunications, entertainment, and philanthropy have left an indelible mark on the nation. From his role in the development of the Petronas Twin Towers to his generous support for education and humanitarian causes, Krishnan’s influence is far-reaching. As one of Malaysia’s richest and most philanthropic figures, his legacy will continue to shape the country’s future for generations to come.
