The Business Times

Billionaires

Consumer & Healthcare

Billionaire Henry Cheng’s units agree settlement with Hong Kong regulator

The SFC says that the settlement is in the public interest and underscored the need to comply with takeover rules

Nvidia CEO Jensen Huang has lost US$8 billion since late January as mounting anxiety over the costs and potential of AI weigh on the company’s shares.
Companies & Markets

Nvidia’s Jensen Huang falls out of world’s 10 richest ranking

Three members of Walmart’s founding Walton family overtake the tech billionaire

Armstrong’s wealth has fallen by more than US$10 billion since peaking seven months ago at US$17.7 billion, according to the Bloomberg Billionaires Index.
International

Coinbase CEO falls from list of world’s richest as crypto slides

Bitcoin is also down by about half since early October

Mark Zuckerberg (above) has grown closer to US President Donald Trump in his second term, and has visited the latter's Mar-a-Lago club in Palm Beach on multiple occasions.
International

Zuckerberg set to join California billionaires with Miami home

South Florida has continued to attract wealthy technology executives from California

Indonesia richest tycoon Prajogo Pangestu presides over 84% of shares in mining firm Petrindo Jaya Kreasi, and has a 68% direct and indirect stake in Barito Renewables.
Asean Business

MSCI pressure mounts on billionaire-held Indonesia shares

Investors have for years complained that the country’s biggest firms are thinly traded and held by tycoons

In recent years, investors and analysts have pushed Tan’s predecessors to expand faster via takeovers and boost dividends to match DBS.
Banking & Finance

OCBC’s billionaire owners seen posing challenge for new CEO Tan Teck Long

The bank split the jobs of chairman and CEO in 1998, and have appointed outside professionals for both positions since 2003

Guocoland controls over 65% of Guocoland Malaysia’s shares.
Asean Business

Billionaire Quek Leng Chan said to weigh taking Guocoland Malaysia private

The 82-year-old Malaysian tycoon has a net worth of US$7.4 billion, according to the Bloomberg Billionaires Index

On Monday (Feb 2), the Castel family said that CEO Gregory Clerc had been revoked by a “qualified majority” as a director of Singapore-based IBBM.
Wealth

Castel CEO’s fate in limbo amid clash over shareholders’ vote

The disputed outcome marks a a new point of contention in the escalating clash between Clerc and the Castel family

Starting in 2026, energy storage projects must meet domestic-content thresholds, forcing companies such as Sungrow to localise manufacturing or source non-Chinese battery cells.
Global Enterprise

One of China’s richest battery tycoons builds US$50 billion empire

Sungrow has the second-biggest market value among all mainland-listed firms seeking H-share listings

For Sarath Ratanavadi, the move highlights ambitions to build a digital ecosystem across energy, virtual banking, telecoms and data services.
Asean Business

Thai billionaire Sarath deepens bet on AI in Google tie-up

Gulf Edge signs a strategic framework agreement with Google to provide AI infrastructure services

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