Hello!
I am Lao Gu from Myanmar News Network, and today I will tell you about the ranking of Myanmar’s richest people!
According to the information compiled by the editor, there are 15 rich people in Myanmar. Because I am worried that the article will be too long, I will introduce you to the top six today. The reputation of these six people is well-known to every household, but I have to briefly introduce them specifically about what industry they are engaged in and how they made their fortune.
Before getting into the topic, I would like to explain:
Everyone says that Wu Tesak is the richest man in Myanmar, but in my opinion, no one can say for sure who is the richest man, because No one has calculated the assets of these big names, and no one can be 100% sure of their asset list, and no national government or international has conducted corresponding surveys and statistics. How much money do you think Wu Desa has? Who the hell can pat their chests and say they know! But one thing is certain, that is, he is more likely to be ranked in the top three. Why? Because most people think he is the richest. If you don't believe me, just ask someone on the roadside. So why do most people say this? Maybe because the industries he is involved in are relatively diverse, everyone is familiar with him.
Therefore,
The following ranking order does not represent their personal asset status.
Wu Desa? (1964)
▲Wu Desa
Main enterprises: Htoo Group
Industries involved: airlines, Hotels, teak trade, various mining industries, banks, football and entertainment, etc.
Famous projects: Air Bagan Airlines, AGD Bank, Yangon United Football Team, Kandawgyi Palace Hotel, Bagan Entertainment, etc.
U Tesak, like other business tycoons, has a close relationship with the military government and a relationship with U Than Shwe, the former supreme leader of Myanmar. Therefore, he has won many market monopoly projects. In 2008, the U.S. Treasury Secretary believed that Wu Desha was suspected of conducting arms transactions for the Myanmar military government. Of course, he was subsequently sanctioned by the United States and blacklisted.
Htoo Group was established in 1990 with the main purpose of engaging in teak logging and trading in remote areas. The group has also built many departmental buildings for the government in Noi Bidu.
2. Luo Bingzhong? (?) ? (1958)
▲Luo Bingzhong
Main enterprises: Asia World Group (Asia World Group)
Industries involved: construction engineering, real estate development, airports, terminals, optical cables, building materials, etc.
Luo Bingzhong, known as "Lao Luo" to the Chinese and "Steven Luo" to the Burmese, is the son of Luo Xinghan, one of the highest Han leaders in Myanmar. In 1992, father and son worked together to establish the "Asia World Group" and stopped all opium-related business activities. Due to their relationship with the military government, they were sanctioned by the United States in 2008 and included on the blacklist.
Asia World’s more famous projects in Myanmar include Naypitaw Airport, Yangon International Airport, and MITT Terminal. The group also established a company in Singapore and once introduced Singaporean investors to Myanmar.
3. Wu Suosuo (1966)
▲ Wu Suosuo
Main enterprises: Max Myanmar Group
Industries involved: banks, Hotels, real estate, gasoline, rubber, beverages, jewelry, infrastructure, etc.
U Sosok is a returnee from Japan. He returned to Myanmar in 1993 for development and established the Max Myanmar Group. At first, he imported Japanese buses, building materials and various generators. As the industry involved expanded, he was also granted the right to build the Nay Pyi Du football stadium; because of his closeness to the military government, he was sanctioned by the United States and included in the blacklist.
Later, he donated money to build children’s hospitals and rural clinics; when the Irrawaddy River flooded, he also donated money for disaster relief. Similarly, he also helped a lot in many social development projects; over time, the company’s image also deteriorated. Reborn.
It is said that he has a good relationship with the grandson of Myanmar’s former supreme leader U Than Shwe.
Currently, he is the chairman of Myanmar Football Federation and Tennis Federation.
Now, among the industries involved in Max Myanmar Group, gasoline, hotel Novotel, and the rubber tree planting project in Mon Bangli have achieved obvious success in recent years.
4. Pan Jize (1953)
▲Pan Jize
Main enterprises: Serge Pun & Associates (referred to as SPA)
Industries involved : Real estate development, banks, public company investment projects, hospitals, hotels, restaurants, coffee, aviation, planting industry, etc.
Famous projects: Yoma Bank, FMI Airlines, Star City real estate project, Mitsubishi Motors and KFC exclusive agent.
Pan Jize, known as "Lao Pan" to Chinese and "Serge Pun" to Burmese, was born in Myanmar. He immigrated to China in 1965 and later went to Hong Kong to engage in real estate development. After 34 years, he returned to Myanmar in 1989 and established SPA Group in 1991. He is the only Chinese who can make a difference in China, Singapore, Myanmar and other countries. #Not sanctioned by the United States.
Whether it is Myanmar’s public holding group First Myanmar Investment (FMI), Singapore’s Yoma Strategic Holdings Co., Ltd., or the SPA that was spun off from the first two, they are all run by Pan Jize plate. Among them, SPA is currently one of the major real estate developers in Myanmar.
5. Mike Momin (1952)
▲Mike Momin
Main companies: Myint & Associates Group
Industries involved : Warehouse construction and leasing, oil and gas extraction, processing and export, as well as all peripheral services related to the oil and gas industry such as oil and gas logistics services, equipment and machinery leasing, intermediary services, equipment and machinery maintenance, etc.
Mike Momin (hereinafter referred to as "Mike") was a senior pilot of Myanmar Airlines and later worked for a company in California engaged in the export of aviation equipment. He established Myint Associates Group in 1989, which was the first local private company to enter Myanmar's oil and gas industry and is now listed among the top ten richest men in Myanmar.
He is regarded as the person with the most legal style among Myanmar’s business tycoons. He once announced that he has no relationship with the military and supports the NLD. He now has a good relationship with Aung San Suu Kyi. For this reason, his style has always attracted attention and appreciation from outside companies.
6. Wu Qikai (1948)
▲Wu Qikai
Main enterprises: Eden Group
Industries involved: real estate development, golf course investment , hotels, banks, restaurants, rice trading, coal and gasoline mining.
Famous projects: MAPCO Terminal, Myanma Apex Bank, Hilton Hotel, Fuji Coffee House
Wu Qikai’s business empire began in 1990, engaged in real estate project construction. Due to its relationship with the military government, it was authorized to undertake the construction of many government real estate projects. Due to this relationship, the business scope has expanded rapidly. Currently, the business has spread to major cities in Myanmar such as Yangon, Bagan, Naypitaw and Kachin State. It also owns hotels in many famous tourist attractions, including Aye Thar Yar in Taunggyi City. The golf course also belongs to the group.
Among the many industries of Eden Group, hotels, banks and agriculture are the most successful and account for the largest proportion of industry sectors within the group. In the end, he was sanctioned by the United States and blacklisted because of his relationship with the military government.
Recently, Eden Group has also begun to do public welfare projects, donate to social development projects, and provide scholarships for many farmers’ children to go to college; at the same time, in order to enable farmers to use agricultural machinery and improve production efficiency, the group’s Myanma Apex Bank offers low-interest small loans.
Source: Myanmar News Network