Malaysian billionaire Ananda Krishnan dies at 86
His private investment firm announced that Ananda Krishnan died at age 86. He had a wide range of business interests, from oil and natural gas to telecommunications.
The cause of death has not been determined.
The tycoon avoided publicity, but became known internationally in the mid-1980s after he helped fund the Live Aid concert organised by rock star Bob Geldof.
He started out as a young businessman by setting up a consultancy. Later, he ventured into the oil trading sector and gambling. In the 1990s he expanded into multimedia ventures.
AK was widely known as a Malaysian businessman who owned stakes in various companies, including the largest telecommunications company Maxis, Astro Malaysia, and BumiArmada, a provider of oilfield services.
He also held stakes in Aircel, an Indian company, and SLTMobitel, a Sri Lankan company.
Ananda, a founding director at the state oil company Petronas, was close to Mahathir Mohammed. He sold the idea to the former Prime Minister of the Petronas Twin Towers - the iconic 88 storey towers - in the early 90s.
Forbes ranked him as Malaysia's sixth richest person, with a net-worth of $5.1 billion.
Ananda tried to maintain a low-profile, but he became famous after being accused by India of corruption in 2014 in relation to Maxis's acquisition of Aircel. Maxis has denied all wrongdoing.
The case is still ongoing.
He grew up in Kuala Lumpur as the son of a civil service who had moved from Sri Lanka into then British Malaya. Ananda studied at the University of Melbourne, and received a Masters of Business Administration from Harvard Business School.
He was a philanthropist who donated to the arts, education, sports, and humanitarian causes throughout Malaysia.
Ananda, who was married to a Thai Princess for many years, spent the majority of his life in Europe. Reporting by Danial and Rozanna in Kuala Lumpur, and Yantoultra Ngui and Edwina in Singapore.
(source: Reuters)
