Ananda Krishnan
Tatparanandam Ananda Krishnan | |
|---|---|
| Born | Template:Birth date Brickfields, Kuala Lumpur, Malaysia |
| Died | November 28, 2024 (aged 86) |
| Occupation(s) | Businessman, philanthropist |
| Known for | Founder and chairman of Usaha Tegas; initiator of Yu Cai Foundation; founder of Astro, MEASAT, Maxis Communications |
Tatparanandam Ananda Krishnan (1 April 1938 – 28 November 2024), also referred to as A. K., was a prominent Malaysian businessman, the founder and chairman of Usaha Tegas, and the initiator of the Yu Cai Foundation (YCF).
At the time of his passing, Forbes estimated his net worth at approximately US$5.1 billion, placing him as the 671st wealthiest individual worldwide and third richest in Malaysia. Despite his significant influence, Ananda Krishnan consistently maintained a discreet public presence throughout his professional life.
Early life and education
Born on 1 April 1938 in Brickfields, Kuala Lumpur, Ananda Krishnan hailed from roots in Jaffna, Sri Lanka. His early education took place at Vivekananda Tamil School followed by Victoria Institution, Kuala Lumpur. Awarded a Colombo Plan scholarship, he completed a Bachelor of Arts with Honours in political science at the University of Melbourne in Australia. Subsequently, he earned an MBA from Harvard Business School in 1964.
A practicing Buddhist, Krishnan was father to three children, one of whom embraced monastic life as a Theravada Buddhist monk. Contrary to some claims, he did not receive any federal or honorific distinctions.[1]
Career
Krishnan’s business career commenced with Malaysian consultancy MAI Holdings Sdn Bhd and the creation of Exoil Trading, through which he secured international oil drilling rights. He subsequently ventured into Malaysia’s gambling industry before branching out into multimedia during the early 1990s.
His diverse holdings encompassed media (Astro), satellite communications (MEASAT), oil and gas sectors (Bumi Armada, Pexco), and telecommunications (Maxis, Sri Lanka Telecom). He also possessed substantial shares in Tanjong Public Limited Company, an investment group with interests in leisure (TGV Cinemas) and real estate, including a controlling 67% stake in Maxis Tower.
Krishnan first gained widespread recognition through co-organizing the Live Aid concert during the mid-1980s. By the early 1990s, he had established a multimedia conglomerate featuring telecommunications firms like Maxis Communications and MEASAT Broadcast Network Systems, which operated three satellites worldwide.
He expanded his ownership in Maxis Communications—Malaysia’s leading cellular operator—by acquiring an additional 46% stake from major global telecom corporations for $1.18 billion, raising his total shareholding to 70%. Maxis serves over ten million subscribers and commands around 40% of Malaysia’s market. Additionally, Krishnan held equity in Sri Lanka Telecom.
Collaborating with India’s Sun Network, he sought to develop television channels aimed at Indian viewers, especially targeting the Tamil community residing in the US, Western Europe, and the Middle East, integrating interactive web features. His media ventures also included investments in TVB.com and ownership of the Shaw Brothers film library.
Death
Krishnan passed away from natural causes on 28 November 2024 at age 86 while in the Swiss Alps.
Philanthropy
Through his enterprise Usaha Tegas and its associated companies, Ananda Krishnan has been a significant benefactor in Malaysia, championing initiatives in education, the arts, sports, and humanitarian efforts.
In 2003, Usaha Tegas initiated the Harapan Nusantara education fund, which annually supports 100 students enrolled in programs at domestic private universities collaborating with international partners. That same year, the company founded the Yu Cai Education Foundation with an endowment of $6.6 million aimed at assisting ethnic Chinese communities.
Astro, Krishnan's media firm, launched a scholarship scheme in 2006 dedicating RM2 million each year to talented Malaysian individuals pursuing careers in media and broadcasting.
In 2008, he played a role in establishing the Montfort Girls Centre, which provides vocational training to orphaned and disadvantaged girls.
Krishnan earned recognition in 2010 when Forbes included him among its 48 Heroes of Philanthropy.
In January 2015, Ananda Krishnan together with Usaha Tegas introduced the Yu Cai Foundation (YCF), offering scholarships for Mandarin-language schools and grants that promote vernacular education, particularly focusing on Mandarin and English.
See also
External links
- "Usaha Tegas Group: Impacting lives"
- Forbes List of Billionaires
- Malaysian billionaire Ananda Krishnan bails out Johnston Press
- Malaysia and Singapore: Asian Nations of Economic Success by Globalization
- Malaysian Tycoon Ananda Krishnan reaps £120m from sale of Excel
- Ananda Krishnan
- T. Ananda Krishnan
- 1938 births
- 2024 deaths
- Harvard Business School alumni
- Malaysian Buddhists
- Malaysian businesspeople
- Malaysian philanthropists
- Malaysian chairpersons of corporations
- Malaysian people of Sri Lankan Tamil descent
- Tamil businesspeople
- American people of Indian descent
- American businesspeople
- University of Melbourne alumni
- Sri Lankan Tamil people
- Sri Lankan businesspeople
- Malaysian billionaires
- Tamil billionaires
- Malaysian people of Indian descent
- Astro Malaysia Holdings