Ananda Krishnan, Malaysian Business Tycoon, Passes Away
Tan Sri Ananda Krishnan, the sixth richest person in Malaysia and one of the most influential tycoons of Indian origin, passed away on November 28 at the age of 86. The business magnate, who had built his fortune primarily through telecommunications and satellite services, died peacefully at his home located among the Swiss Alps, as confirmed by his children.
Best known as AK or T. Ananda Krishnan, he was regarded as one of Malaysia’s leading self-made billionaires, with his net worth estimated to be around $5.1 billion. His enterprise was deeply intertwined with Malaysia's economic rise, establishing companies such as Maxis Communications and MEASAT Broadcast Network Systems.
Ananda Krishnan’s career commenced with his venture as a business consultant before he made strides in the oil trading sector. His breakthrough came during the mid-1980s as he transitioned to the entertainment industry, famously participating in the Live Aid concert alongside Bob Geldof. This move marked the beginning of his significant investments, which included the establishment of powerful multimedia conglomerates combining telecommunications and entertainment.
The tech titan owned three major global communication satellites, positioning himself as not only the largest telecom service provider through Maxis but also as the main stakeholder for satellite broadcasting services such as Astro Malaysia. His business acumen extended beyond Malaysian borders, manifesting through investments in notable companies like India’s Aircel and Sri Lanka’s SLTMobitel, showcasing his expansive investment portfolio.
Outside his business ventures, Ananda Krishnan was known for his close association with former Malaysian Prime Minister Mahathir Mohamad. Reports suggest he was instrumental in promoting the construction of the iconic Petronas Twin Towers, which reign supreme as the world's tallest twin skyscrapers. His reputation as both astute and elusive earned him the name “the elusive billionaire,” as he seldom made personal appearances, opting instead to let his corporate achievements speak volumes.
His legacy does not come without controversy, as Ananda Krishnan was named as one of the key players involved in the alleged corruption case tied to the Aircel-Maxis deal, which continues to draw attention from the media and courts alike.
On December 1, his three children released a heartfelt letter to the public, announcing their father’s passing with gratitude for those who contributed to his fulfilling life. They expressed how he spent the final months of his life battling lung disease yet maintaining his zest for work and life. Strikingly, the letter highlighted Ananda’s private nature, declaring he was not one for sentimental farewells but held immense appreciation for the relationships he had forged over the decades.
The letter shared insights about Ananda’s experiences, from his humble beginnings growing up during the British colonial era to becoming one of the most significant business figures globally. It also conveyed his wishes and hopes for his children, the next generation poised to inherit his vast fortune and business empire.
Despite his immense wealth and influence, Ananda Krishnan preferred to maintain a low public profile, focusing on his philanthropic efforts through the YCF charitable foundation he established. His foundation supported numerous charitable causes dedicated to sports, education, arts, and humanitarian efforts, leaving behind not just business legacies, but also acts of kindness aimed at uplifting communities.
News of Ananda Krishnan's death has drawn tributes from many across the business and political spectrum, including expressions of condolence from current leaders who acknowledged his contributions to Malaysia’s modernization and economic development.
While he may have left behind the public eye, the impact of his entrepreneurial spirit will undoubtedly resonate through the ventures he built and the lives he touched. Ananda Krishnan's story—one of remarkable success, quiet dignity, and philanthropy—will forever be intertwined with the tale of Malaysia's own evolution.
His son, Ven Ajahn Siripanyo, is anticipated to take over the family business, continuing the legacy of wealth and philanthropy established by his father. Though the world has lost a financial titan, Ananda Krishnan's legacy is far from fading as it will carry on through his family and lasting contributions to society.