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# 300 Chen Lip Keong $6.06B

Random fact: NagaWorld holds an exclusive license within a 200km radius of Phnom Penh.

Overview

Chen is the founder and chief executive of NagaCorp, the operator of Cambodia's largest casino. The Phnom Penh-based company is publicly traded in Hong Kong and reported revenue of $1.5 billion in 2018. Chen also controls Karambunai, a Malaysian conglomerate involved in property development, infrastructure and tourism.

As of :
Last change +$104M ( +1.8%)
YTD change +$2.38B ( +64.5%)
Industry Entertainment
Biggest asset 3918 HK Equity
Citizenship Malaysia
Age 72
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Chen Lip Keong's net worth of $6.06B can buy ...

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troy ounces of gold
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barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Chen's fortune is derived from his stake in NagaCorp, a casino operator. The Phnom penh-based company had revenue of $1.5 billion in 2018, according to the 2018 preliminary annual report. NagaWorld is Cambodia's largest casino and entertainment complex, according to its website.

Chen has a 66 percent stake in NagaCorp directly and through two holding companies controlled by ChenLa Foundation, a discretionary trust founded by him, according to a November 2018 filing submitted to the Hong Kong Stock Exchange.

He also controls 73 percent of Kuala Lumpur-listed Karambunai Corp., a property developer and tourism company, through Cartaban Nominees (Tempatan) Sdn Bhd, according to the company's 2017 annual report.

Chen privatized property developer and investment company Petaling Tin Berhad, which was listed in Kuala Lumpur, in 2018. The business is valued using its reported financials for the year ended March 31, 2018, and the average price-to-book value multiple of four publicly traded peers: SP Setia, UEM Sunrise, Agile Group Holdings and Eastern & Oriental.

The value of his cash investments is based on an analysis of dividends, insider transactions, taxes, market performance and charitable giving.

Anthony Cheung, director of capital investment and corporate finance at NagaCorp, declined to comment on the billionaire's net worth.

Biography

Birthdate:
Family: Married, 3 children
Education: University of Malaya

Chen earned his bachelor's of medicine and surgery from the University of Malaysia and practiced medicine before entering business. He began in property development at home before moving to Cambodia in the early 1990s, hoping to drill for oil offshore.

In 1994, he won Cambodia's first casino license and was granted a 41-year monopoly status banning all other gaming operators from entering a 200-kimometer radius around the capital, Phnom Penh. He founded NagaCorp, which operates Cambodia's largest integrated casino resort NagaWorld.

Chen took NagaCorp public on Hong Kong’s stock exchange in 2006, the first casino company listed there and the first business in Cambodia listed anywhere. NagaWorld had 384 gaming tables and 2,250 electronic gaming machines in operation at the end of 2016, according to its company's 2017 annual report. Naga2, a 900-hotel-room extension to NagaWorld opened in November 2017.

Milestones
  • 1948 Chen Lip Keong is born in Malaysia.
  • 1994 Won Cambodia’s first casino license.
  • 2006 Listed NagaCorp in Hong Kong.
  • 2017 Opened Naga2 in Phnom Penh.