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Covid-19 Creates New Malaysian Billionaire

Covid-19 Creates New Malaysian Billionaire

Wong Teek Son is now worth RM5 billion.

Hakim Hassan

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The increase in global glove demand due to the Covid-19 pandemic has created another Malaysian billionaire.

Riverstone Holdings Ltd Co-Founder Wong Teek Son, is now worth USD1.2 billion (RM5 billion) after demands for his products skyrocketed as the coronavirus began to spread worldwide.

He becomes the fifth billionaire in the country coming from glove manufacturing business.

Previously, Supermax Corp’s Datuk Seri Stanley Thai Kim Sim and Kossan Rubber Industries’ Tan Sri Lim Kuang Sia were made billionaires due to the increase in demand.

Local glove manufacturers have become some of the most valuable companies in the country as their shares jumped by more than 192% this year.

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