Lee Shin Cheng

$5.40 B

Ranked #325 in World

About Lee Shin Cheng

Lee Shin Cheng, a renowned Malaysian business magnate, investor, and philanthropist who passed away on June 1, 2019, just shy of his 80th birthday, left an indelible mark as the executive chairman of IOI Corporation Berhad (IOI Group), a leading conglomerate in oil palm plantations, specialty fats, oleochemicals, and property development across Malaysia, Indonesia, the US, and Europe. Rising from humble beginnings on a rubber plantation and exiting school at 11 to support his family, Lee's journey to becoming the "tree talker" with a hands-on approach towards enhancing palm oil productivity is legendary. Under his leadership, IOI grew into a global powerhouse, securing him the position of Malaysia's third richest and the world's 234th richest person in 2009, boasting a net worth of US$3.2 billion. Recognized for his contributions to the palm oil industry and society with numerous awards, he also nurtured a legacy through his six children, all legal professionals who have taken up managerial roles within IOI.

Born

March 06, 1939 in Kuala Lumpur, Malaysia

Died

June 01, 2019 (aged 80)

Source Of Wealth

Palm Oil, Property

Industries

Manufacturing

Citizenship

Malaysia

Education

Doctorate, Universiti Putra

Lee Shin Cheng was born on 3 June 1939 in Batu Pahat, Johor, Malaysia. He grew up on a rubber plantation and faced financial difficulties from an early age. To support his family, Lee left school at the age of 11 and began working.

Lee Shin Cheng: Family

Lee Shin Cheng was married and had two sons and four daughters. All of his children were trained as lawyers and held managerial positions in IOI Corporation Berhad.

Lee Shin Cheng: Career Highlights

Lee Shin Cheng's career in the palm oil industry began when he secured a job as a field supervisor at a palm oil company. Despite being rejected for a job at Dunlop Estate earlier, he eventually managed to purchase the estate.

Lee's hands-on managerial style and focus on maximizing palm oil yields earned him the nickname "tree talker." He led IOI Corporation Berhad (IOI Group) as its executive chairman, transforming it into a conglomerate involved in oil palm plantations, specialty fats and oleochemicals production, and property development across Malaysia, Indonesia, the US, and Europe.

Lee Shin Cheng: Companies

Lee Shin Cheng was the executive chairman of IOI Corporation Berhad (IOI Group), a conglomerate with diverse business interests in oil palm plantations, specialty fats and oleochemicals production, and property development.

Lee Shin Cheng: Major Achievements

Lee Shin Cheng's major achievements include building IOI Corporation Berhad into a successful conglomerate and becoming one of the wealthiest individuals in Malaysia. He was recognized as Malaysia's third richest person and the world's 234th richest person in 2009, with a net worth of US$3.2 billion.

Lee Shin Cheng: Awards & Achievements

Lee Shin Cheng received numerous awards and honors for his contributions to the palm oil industry and society. These include the Darjah Kebesaran Seri Setia Mahkota (SSM) from the Malaysian government, which carries the title "Tun," and the Lifetime Achievement Award from the Malaysian Palm Oil Council (MPOC).

Lee Shin Cheng: Personal Life & Legacy

Lee Shin Cheng was known for his humble beginnings and his dedication to his work.

He passed away on 1 June 2019, two days before his 80th birthday, leaving behind a legacy of entrepreneurship and philanthropy.

Lee Shin Cheng: Trivia

Lee Shin Cheng was known for his love of durian, a tropical fruit native to Southeast Asia. He was also an avid collector of Chinese antiques and art.

Wealth History

Timeline

1939

Lee Shin Cheng was born.

1950

Lee left school at age 11 to support his family.

1960s

Lee got a field supervisor's job at a palm oil company.

1970s

Lee bought Dunlop Estate, which he had previously been rejected for a job.

1980s

Lee headed IOI Corporation Berhad (IOI Group) as its executive chairman.

2009

Lee was recognized as Malaysia's third richest person and the world's 234th richest person, with a net worth of US$3.2 billion.

2019

Lee passed away on 1 June, two days before his 80th birthday.

Lee Shin Cheng : FAQs

What is Lee Shin Cheng's net worth?

As of 2019, Lee Shin Cheng's net worth was $5.40 billion.

What are Lee Shin Cheng's main sources of wealth?

Lee Shin Cheng's main source of income comes from Palm Oil, Property.

In which industry does Lee Shin Cheng primarily operate?

Lee Shin Cheng is primarily involved in the Manufacturing industry.

What is Lee Shin Cheng educational background?

Lee Shin Cheng holds a Doctorate from Universiti Putra.

Is Lee Shin Cheng dead?

Yes, Lee Shin Cheng died on June 01, 2019 (aged 80).

How many children does Lee Shin Cheng have?

Lee Shin Cheng has 6 children.

Who was Lee Shin Cheng and what was he known for?

Lee Shin Cheng was a renowned Malaysian business magnate, investor, and philanthropist known for heading IOI Corporation Berhad (IOI Group), a conglomerate involved in various industries including oil palm plantations and property development across multiple countries.

What were the main industries involved in IOI Corporation Berhad under Lee Shin Cheng's leadership?

Under Lee Shin Cheng's leadership, IOI Corporation Berhad was involved in oil palm plantations, specialty fats and oleochemicals production, as well as property development, with operations in Malaysia, Indonesia, the US, and Europe.

How did Lee Shin Cheng begin his career and what notable achievement did he accomplish in his early career?

Lee Shin Cheng began his career working on a rubber plantation and left school at age 11 to support his family. Despite being initially rejected for a job at Dunlop Estate, he significantly advanced his career and eventually bought the estate, marking a significant achievement in his early career.

What unique managerial style was Lee Shin Cheng known for and what nickname did this earn him?

Lee Shin Cheng was known for his hands-on managerial style, particularly for his focus on maximizing palm oil yields, which earned him the nickname 'the tree talker'.

What legacy did Lee Shin Cheng leave behind after his passing in 2019?

Lee Shin Cheng left behind a significant legacy as a leading figure in the palm oil industry, the executive chairman of IOI Corporation Berhad, and a philanthropist, remembered for his contributions to the industry and society, and for raising a family who continues to hold managerial positions in IOI.