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Money Lessons You Can Learn From 10 Famous Malaysians

It’s Merdeka month and this year we celebrate Malaysia’s 60th year of independence. In the spirit of celebrating our country’s achievement, check out these homegrown success stories and see how far these famous Malaysians have built their fame and fortune, with some even making it big internationally.

Image source: Rizalman’s Instagram

Datuk Rizalman Ibrahim

“I hate Sundays, it’s the day I don’t create” – Datuk Rizalman Ibrahim

Declaring himself as the “royalty of the fashion industry” in Malaysia, Datuk Rizalman Ibrahim, 47 who hails from Penang has been in the Malaysian fashion industry for 25 years since starting his career in 1992. He is known as the designer to an elite clientele lists which includes members of the Malaysian royalty, socialites and local celebrities.

Rizalman on starting a business:

“Even if I was born into a rich family, I wouldn’t want to get into the business that way (through family’s wealth). I want beautiful things. How do I get it? By saving money. If you have a strong sense of self, motivation and determination, you will say (to your father), “I don’t want your money pa, I want to start fresh.”

Aside from being a fashion designer, Rizalman has also expanded his business with five companies under his name which includes RI Maison, which is a household store and has also ventured into wedding planning, interior decorating and even has his own reality TV show. Rizalman’s success is most probably due to his tenacity, as he admits that he has an ego, and that he does not like people to outdo him. However, Rizalman says his ego is positive as it causes him to constantly make sure he stays relevant in the industry.

Image source: Vivy Yusof’s Instagram

Vivy Sofinas Yusof

Before reaching 30, Vivy co-founded a successful regional e-commerce company, Fashion Valet that has an estimated worth value at more than RM100 million.

Vivy on success:

“I don’t define success because I don’t feel the need to. Once you define it and you achieve it, then what happens? Complacency or self-pride happens, which is bad. I just do my thing and set new goals every time I’ve hit one, and not think too much about it.”

Fashion Valet started with her then boyfriend (now husband) Fadzarudin Anuar in 2010 when Vivy was 23 years old, with a capital of RM100,000 pooled from both their savings, and some borrowed money from their family. Vivy also has her own scarves line, dUCk with stores in major shopping malls like Pavilion and Bangsar. Vivy also made it to the Forbes 30 under 30 Asia  2017 list.

Image credit: Staysiah CC BY-SA 4.0

Tan Sri Dato Seri (Dr) Lim Goh Tong

The late Lim Goh Tong perhaps epitomised the rags to riches. He was 19 when he arrived in the then Malaya from China. However, when he passed away in 2009, he left behind an estimated USD4.3 billion of wealth. He is most notably known for successfully turning around Genting Highlands, a hill just outside Kuala Lumpur, into one of the world’s most profitable casino and hilltop resorts in Malaysia. Here’s an interesting fact, Genting, means “on top of clouds” in Cantonese.

“I believe that to succeed in business, one has to be what the Chinese say ‘dan da xin xi’, be bold but cautious. Once a decision is made with sound reasoning, the rest is hard work, determination and perseverance to see it through to fruition.” – Lim Goh Tong

Datuk Zang Toi

 “I only started with 13 pieces in my first collection too. It is important to let your business grow gradually and slowly” – Datuk Zang Toi

Here’s another Malaysian born fashion designer who has made it big internationally. Datuk Zang Toi started out in New York, where he studied at the distinguished Parsons School of Design. In 1990, Zang Toi was awarded the Mouton Cadet Young Designer of the year that recognizes top young U.S. designers. The award became a launch pad for his fame into the competitive New York fashion scene. Today, his high end designs are sold at specialty stores in Saks 5th Avenue, Neiman Marcus and Nordstrom.

“Remember to always be nice, kind and respectful to the people who work for you – even when you’re successful” –Datuk Zang Toi

Among his clientele are Melinda Gates, wife of Microsoft billionaire Bill Gates, and Hollywood celebrities such as Kirstie Alley, Eva Longoria, Fergie of Black Eyed Peas, and even Saudi princesses.

Image source: The Star

Tan Sri Syed Mokhtar Al Bukhary

Dubbed as the reclusive tycoon, Tan Sri Syed Mokhtar Al Bukhary is among the Top 10 richest Malaysian with a net worth of USD1.8 billion. As a son of a cattle trader, he started off with humble beginnings. Growing up, money was tight that he even had to drop out of school as his family was too poor and could not afford to pay for his education. He then began working as a cattle trader and rice trader.

“I never behave like a big man because everyone, whether he is a Malay, Chinese or Indian, is the same. The most important thing is that we must be consistent and work our way up. There is no short cut to success”- Syed Mokhtar Al Bukhary

However, Syed Mokhtar’s current wealth now is due to his diverse involvement in logistics, transportation, plantation, property development and defence sectors. Therefore, we can take note that in order to grow wealth, we have to have a diverse method of generating income.

Image source: The Star

Tan Sri Dato Seri Vincent Tan

“I have found my purpose in life. It is to make more money and then give more than half of it away,” – Vincent Tan

Growing up in a poor family and born to a lorry driver, Vincent Tan has since come a long way. At the age of 28, he bought the McDonald’s franchise. As of now, he is owner to 15 companies, but is most notably known as owner of the Berjaya group which is worth at RM3b as of 2015, and also owns the Cardiff City football club.

Image source: The Star

Dato’ Jimmy Choo

“I never claim that I am successful because this gives me a reason to keep on learning and be a good student” – Dato’ Jimmy Choo

Dato’ Jimmy Choo is most notably known for the high-fashion luxury shoe brand, Jimmy Choo Ltd which he co-founded with Tamara Mellon in 1996. He was born in Penang into a family of shoemakers, and was taught to make his first shoe at 11 by his father. The company received international recognition for its expensive and high-end handmade women’s shoes, and became among the favourite of Hollywood celebrities. However, Choo has since sold his 50% stake in the company to his co-founder, Tamara Mellon. Based in London, Jimmy Choo has a net worth of USD50 million.

Image source: The Star

Tan Sri Ananda Krishnan

Tatparanandam Ananda Krishnan, better known as Ananda Krishnan was born in 1938 in Brickfields, Kuala Lumpur to a Tamil immigrant family from Sri Lanka. He has an M.B.A. from Harvard Business School and as of 2017, has a net worth of USD6.4 billion according to Forbes. Ananda founded various major organizations in Malaysia such as Measat Broadcast Network Systems (Astro) and Maxis. Despite being a billionaire with many companies to his name, he keeps a low profile and is big on protecting his privacy,

“I have heard some people say I have a low profile. Why should somebody be high profile, anyway?’ I am just doing my job.” – Tan Sri Ananda Krishnan

Interestingly, Ananda’s only son Ven Ajahn Siripanyo has also chosen a quiet life as a Buddhist monk.

Image source: Siti’s Instagram

Datuk Siti Nurhaliza

Known as Malaysia’s pop princess, Dato Siti Nurhaliza began singing professionally from the age of 17. Many may not have known that while recording her first album, Siti was also busy preparing for the SPM examinations. Since then, she has picked up more than 200 local and international awards since her debut. Siti has tried her had at song writing, producing, and as a TV presenter. She has also performed worldwide, most notably her solo concert at Royal Albert Hall, London while being backed by the London Symphony Orchestra.

“If not managed properly, money can deplete quickly even in a year. That’s why we have to think far while we have money and the economy is doing well. Even if in a small scale, businesses will have profit and loss, but we have to be brave to face it” – Dato Siti Nurhaliza

She is arguably among the most successful singer in Malaysia and is now a millionaire in her own right. And to think that while growing up, she had to help her mother sell kuih in her village to make ends meet. Even though she is now leaving a comfortable life, Siti advices Malaysians to learn to differentiate between necessity and desire when it comes to spending, to compare prices and to jot down their spending.

Aside from her profession as a singer, Siti is also an entrepreneur and has her own cosmetics line, SimplySiti and her own clothing line, Creacion by Siti Nurhaliza. She has also been selected to be ambassador for brands such as Maybelline, Pantene and Vivo.

Image source: Neelofa’s Instagram

Noor Neelofa Mohd Noor

 “I want to use my success to inspire women not just to make money but also to have good confidence in themselves, be strong, not necessarily rely on men” – Neelofa

Neelofa became a household name following her career in the Malaysian entertainment industry career as an actress and TV host. However, she is now better known as an entrepreneur. At 28 years old, Neelofa is the founder and director of NH Prima International Sdn Bhd which was set up in 2014. Since then, the company has registered RM50 million in sales in 2015. Aside from Malaysia, her company also has a store in Chelsea, London. To top it off, Neelofa made it to the prestigious Forbes 30 under 30 Asia 2017 list.

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The post Money Lessons You Can Learn From 10 Famous Malaysians appeared first on Financial News and Advice in Malaysia.



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