KUALA LUMPUR: Malaysian billionaire Ananda Krishnan Tatparanandam, has passed away at the age of 86, according to a statement by his private investment vehicle, Usaha Tegas Sdn Bhd.
He passed away peacefully earlier today.
Ananda Krishnan, a towering figure in Malaysia's business landscape, despite resolutely staying in the background, has made significant contributions to nation building and the corporate world; and his philanthropic initiatives have touched many lives.
Often referred to as "AK," the 86-year-old was one of Malaysia's wealthiest individuals, with a net worth once estimated at over US$5 billion.
Known for his low-profile demeanour, Ananda built a diversified empire encompassing telecommunications, media, and energy through his company, Usaha Tegas.
Born in 1938 in Brickfields, Kuala Lumpur, Ananda earned a degree in political science from the University of Melbourne and later completed an MBA at Harvard Business School.
His journey into business began with ventures in oil trading, which eventually expanded into investments in technology and media.
Among his flagship achievements are the establishment of Maxis Communications, Malaysia's leading telecommunications company, and Astro, Malaysia's first satellite television provider.
He also launched MEASAT, pioneering Malaysia's satellite industry.
Despite his business acumen, Ananda remained deeply committed to philanthropy.
Through the Yayasan Ananda Krishnan foundation, he contributed significantly to education, arts, sports, and humanitarian initiatives.
His charitable activities have provided scholarships and support to countless individuals, reflecting his dedication to uplifting society.
While he experienced great success, not all ventures flourished.
His investment in India's telecom market, particularly through Aircel, faced setbacks.
Ananda Krishnan's only son, Ajahn Siripanyo, made the extraordinary decision at 18 to relinquish a multi-billion-dollar fortune to pursue a life as a Buddhist monk in Thailand.