Robert Kuok Hock Nien, better known as Robert Kuok, (born 6 October 1923) is a Malaysian business magnate, investor and philanthropist based in Hong Kong since 1973. According to Forbes, his net worth is estimated at $11.8 billion as of April 2023, making him the wealthiest Malaysian citizen and 96th wealthiest person in the world. As of April 2023, according to the Bloomberg Billionaires Index 2023, Kuok has an estimated net worth of $17.7 billion, making him the 97th richest person in the world.
Although Kuok is a major figure in business circles in East and Southeast Asia, he has remained media shy and maintains a low public profile despite his massive business success and immense wealth, with most of his companies being privately held by him or his family members. Apart from presiding the ownership over a multitude of businesses spread across numerous industries in the Malaysian economic landscape, his companies have investments in many countries throughout Continental Asia. The biggest source of wealth that has contributed to his private fortune is a stake in the Singaporean company Wilmar International, the world's largest listed palm oil trader company. For three months in 2018, Kuok was appointed to the Council of Eminent Persons as an advisor during Mahathir Mohamad's second stint as prime minister.
Early life
Kuok was born on 6 October 1923 in Johor Bahru during British colonial rule to a wealthy Malayan Chinese family with origins from Fuzhou (Hokchew). He was named after Robert the Bruce, and was enrolled at an English-medium primary school by his father's English-speaking clerk. Kuok's father, Kuok Keng Kang (1893–1948), had left the Qing dynasty in 1909 and arrived in Singapore from Fuzhou (Hokchew), which is now part of Fujian in China.
Career
Early 20th century
According to Kuok himself, he began his business career as an office boy, and later started a business from scratch with financial backing coming from his relatives. Mitsubishi, with the help of the Kempeitai, monopolised the rice trade in Malaya during the occupation period. He was soon promoted to head the rice-trading department. After the war, he took the skills he learned from the occupying force to the family's business in Johor.
On 31 October 2009, the PPB Group under the flagship of Robert Kuok issued a statement to the Bursa Malaysia that it had decided to dispose of its sugar units along with land used to cultivate sugar cane for RM 1.29 billion to FELDA. The sales resulted in a one-off gain for the company.
In February 2014, PACC Offshore Services Holdings (POSH), a Singaporean-based oil services operator owned by Kuok started pre-IPO talks with investors to list on the Singapore Stock Exchange to raise $400 million.
Politics
His political influence is attested by his selection as one of the Hong Kong Affairs Advisors in the run-up to the transfer of sovereignty over Hong Kong, and his minority stake in CITIC Pacific. He was also instrumental in conveying information and setting up the meetings between Malaysian and Chinese governments leading to full diplomatic cross recognition of the two countries.
On 12 May 2018, in the aftermath of the Malaysian general election that year where Mahathir Mohamad returned as prime minister of Malaysia, Kuok was appointed to the five-member Council of Eminent Persons along with Tun Daim Zainuddin, Tan Sri Datuk Seri Zeti Akhtar Aziz, Tan Sri Hassan Marican and Jomo Kwame Sundaram to advise the Pakatan Harapan (PH) federal government. The council was dissolved on 17 August 2018.
Personal life
Kuok is a follower of Buddhism. Kuok has been married twice. His first wife was Joyce Cheah and his second wife is Pauline Ho Poh Lin. He has eight children from the marriages. One of his sons, Kuok Khoon Ean, handles most of the day-to-day operations of his businesses. He resides in Kuala Lumpur. During the reign of Iskandar of Johor as the King of Malaysia, Kuok was offered a "Yang Berbahagia Tan Sri" title (comparable to Sir), but rejected the offer.
Kuok's brother, Philip Kuok Hock Khee was a former Malaysian Ambassador to Germany, Yugoslavia, Netherlands, Belgium, Luxembourg and Denmark. Philip married Eileen Kuok and had two sons and two daughters. Philip Kuok died in 2003. Another brother, William Kuok Hock Ling, was a member of the Malayan Communist Party and was killed during the Malayan Emergency in 1952. According to his memoir, Kuok described that of all the brothers, his mother Zheng Ge Ru doted on and adored William the most, and was heartbroken when she received news of his death.
His nephew, Kuok Khoon Hong is the chairman of Wilmar International, and one of the richest people in Singapore. Kuok Khoon Hong's father, Kuok Hock Swee, was an older cousin of Robert Kuok. His grand-nephew, Kuok Meng Ru, is in the music retail industry, owning Swee Lee music company.
He lives in the Deep Water Bay neighbourhood on Hong Kong Island. In 2023, Kuok became a centenarian.
Bibliography
In March 2018, Kuok published a book about his life entitled, Robert Kuok: A Memoir. It won Best Book of the Year at the Singapore Book Publishers Association awards 2018.
- Robert Kuok: A Memoir (2018)