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# Lim Kok Thay

Random fact: Lim family has bankrolled two Native American casinos since 1991.

Overview

Lim is the chairman of Genting Berhad, a conglomerate with revenue of 18.4 billion Malaysian ringgit ($4.4 billion) in 2016. He inherited the Kuala Lumpur-based business in 2003 from his father, Lim Goh Tong. The Genting group of companies has investments in casinos, oil palm plantations, power generation and property development.

As of July 26, 2017:
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Industry Entertainment
Biggest asset N/A
Citizenship Malaysia
Age 65
Wealth Inherited
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Relative Value

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Latest News

Net Worth Summary

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Biography

Birthdate: 8/16/1951
Family: Married, 3 children
Education: 1975, University of London, Science, Bachelor's Degree

Lim Kok Thay was born in 1975, the second son to Lim Goh Tong, a mining and construction worker who started out selling vegetable seeds in China. Lim was working on a hydroelectric project in 1963, when he came up with the idea of building Genting Highlands, a jungle hilltop resort near the Malaysian capital of Kuala Lumpur.

Genting, which has a monopoly over the Malaysian market, means ``atop the clouds'' in Chinese. It is the flagship of Genting Bhd., which Lim Kok Thay took over from his father in 2003, when he retired. The billionaire, who has two brothers and four sisters, is the only sibling actively involved in the family business.

Unable to open more casinos in Malaysia, Genting expanded abroad, buying the U.K.'s biggest casino operator in 2006, and opening a Singapore gambling resort four years later. It has also diversified into other businesses -- hotels, cruises, palm oil plantations and power generation -- to balance the volatility of gambling revenue.

Genting's talks with New York state to build a $4 billion convention center next to its New York City casino collapsed in 2012, while a Florida House of Representatives committee delayed the company's plan to build a $3 billion hotel and casino in Miami. U.K. regulators approved a proposed deal by fellow Malaysian billionaire Quek Leng Chan in 2013 that would make him the largest casino owner in the U.K., ahead of Lim.

Milestones
  • 1957 Father obtains the only casino license in Malaysia.
  • 1976 Joins his father's Genting Group in Malaysia as a director.
  • 2002 Becomes president and CEO of Genting.
  • 2006 Buys U.K. casino operator Stanley Leisure for $901 million.
  • 2010 Opens Resorts World Sentosa in Singapore for $4.7 billion.
  • 2010 Pays New York state $380 million for a slot machine parlor.
  • 2012 Florida politicians delay Genting's plans for a $3 billion casino.
  • 2013 Discloses plans to complete Las Vegas resort by 2015.
  • 2016 Genting sells its stake in Resorts World Jeju for $420 million.
  • 2016 Genting proposes plans to built a 50-yacht marina at its property in Miami.