99 Speedmart’s Lee Thiam Wah Named 7th Richest In Malaysia With RM17.6bil Net Worth
From selling snacks by the roadside to running a large mini-mart brand nationwide, Lee Thiam Wah is a figure of inspiration for those who dare to dream.
Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates.
Lee Thiam Wah, the founder of 99 Speedmart, is now one of the country’s top 10 richest individuals.
The owner of Malaysia’s largest mini-mart chain has a net worth of RM17.6 billion, earning the 7th spot on the 2024 Nanyang Rich List.
READ MORE: 99 Speedmart Founder Is Now Alliance Bank Major Shareholder
Lee holds an 83% stake in the company and his wealth soared after 99 Speedmart’s initial public offering (IPO) last year.
READ MORE: 99 Speedmart IPO: Record-Breaking Success Amidst Non-Shariah Compliance Concerns
This achievement puts him in the same league as Sunway Group’s founder and chairman, Tan Sri Dr Jeffrey Cheah (8th on Forbes Malaysia’s 50 Richest with a net worth of US$2.4 billion) and Genting Bhd’s tycoon, Tan Sri Lim Kok Thay who has a net worth of US$2.2 billion.
READ MORE: How Much Are 99 Speedmart Employees Actually Paid? COO Clarifies
Lee Thiam Wah started from humble beginnings
Lee started from humble beginnings and as someone with polio which affected the use of his legs since he was an infant, he had to hone his sense of determination early.
He had limited education during his early years due to financial hardships. However, he was determined to complete his education in secondary school. His foray into entrepreneurship began when he sold snacks by the roadside to support his mission to complete school.
In 1987, at just 23 years old, he used the savings from selling snacks to open his first sundry shop named Pasar Raya Hiap Hoe in Klang and the rest they say is history.
READ MORE: Who Is Lee Thiam Wah – The Man Behind 99 Speedmart?
Share your thoughts with us via TRP’s Facebook, Twitter, Instagram, or Threads.
