Study: Malaysia Ranked 19th Among Asia’s Wealthiest Countries!

The rise in wealth in Asian countries over the years is thanks to better economic conditions in developing countries. Global wealth includes all kinds of assets, like money and property, from all over the world.

Asian multinationals have shown their dominance globally in many industries. With that in mind, Malaysia has been ranked the 19th wealthiest country in Asia.

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20 wealthiest countries in Asia

According to Insider Monkey, Malaysia is currently ranked the 19th wealthiest country in Asia, thanks to strong sectors like manufacturing and tourism.

According to World Population Review, as of 2024, Malaysia’s total assets ranked by GDP (Gross Domestic Product) is around $445.52 billion (approximately RM2,031.57 billion). The wealth per adult in Malaysia is $27,078 (approximately RM123,475.68).

Based on the analysis, with a wealth per adult of $552,930 (approximately RM2,541,978), Hong Kong tops the list as the wealthiest region in Asia. Singapore follows closely with a wealth per adult of $358,204 (approximately RM1,648,540). Taiwan ranks 3rd, with a wealth per adult of $297,864 (approximately RM1,371,588).

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The methodology used in the analysis for the wealthiest countries

Insider Monkey analysed data from Credit Suisse’s Global Wealth Databook, which calculates the wealth per adult in various countries.

Using this data, Insider Monkey compiled a list of the top countries ranked by wealth per adult, ranking them from highest to lowest.

Wealth per adult, or capita wealth, offers insights into a country’s economic health and the distribution of wealth among its population.

Here’s the complete list of the top 20 rankings in the analysis for the wealthiest countries in Asia, based on wealth per adult:

1. Hong Kong – $552,930
2. Singapore – $358,204
3. Taiwan – $297,864
4. Japan – $245,238
5. South Korea – $237,644
6. Qatar – $183,106
7. Kuwait – $171,348
8. United Arab Emirates – $122,841
9. Bahrain – $98,031
10. Saudi Arabia – $84,407
11. China – $76,639
12. Lebanon – $75,734
13. Brunei – $57,419
14. Kazakhstan – $42,559
15. Oman – $40,962
16. Iran – $39,093
17. Russia – $34,005
18. Jordan – $30,814
19. Malaysia – $27,078
20. Sri Lanka – $27,040

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The wealthiest Malaysians

Malaysian billionaires are a big part of the global wealth scene, owning everything from cash and real estate to businesses and personal property.

In another study, thanks to our billionaires, Malaysia ranked 25th in 2024 for the number of billionaires by country, with a total of 17 billionaires.

According to Forbes, these are the wealthiest billionaires in Malaysia for 2024:

1. Tan Sri Robert Kuok – $11.4 billion
2. Tan Sri Quek Leng Chan – $8.8 billion
3. Tan Sri Ananda Krishnan – $4.9 billion
4. Tan Sri Koon Poh Keong – $3.7 billion
5. Dato’ Lee Yeow Chor – $3.1 billion
6. Lee Yeow Seng – $2.3 billion
7. Tan Sri Lim Kok Thay – $2.3 billion
8. Wong Kie Chie – $2.2 billion
9. Tan Sri Dr Jeffrey Cheah – $2 billion
10. Tan Sri Lau Cho Kun – $1.5 billion
11. Diona Teh Li Shian – $1.4 billion
12. Lillian Teh Li Ming – $1.4 billion
13. Lillyn Teh Li Hua – $1.4 billion
14. Lim Chai Hock – $ 1.4 billion
15. William Teh Lee Pang – $ 1.4 billion
16. Tan Sri Syed Mokhtar Albukhary – $1.3 billion
17. Datuk Seri Cheah Cheng Hye – $1 billion

What are your thoughts on this? Let us know in the comments down below!

Also read: Study: Malaysia Ranks 25th in the World for the Most Billionaires in 2024!