Ananda Krishnan, Malaysian billionaire who once sponsored CSK in IPL, passes away 

Ananda Krishnan, the Malaysian billionaire whose vast business empire spanned industries such as oil and gas, telecommunications, and property development, has passed away at the age of 86, his private investment company said. No cause of death was given.

Krishnan founded his flagship investment firm, Usaha Tegas Sdn Bhd, in 1984, which became a cornerstone of his legacy. His only son, Ven Ajahn Siripanyo, recently garnered global attention when he renounced a $5 billion inheritance to become a Buddhist monk at the age of 18. 

Throughout his career, Krishnan built major companies in sectors that have shaped Malaysia’s corporate landscape, including telecommunications, satellite TV, oilfield services, and real estate.  

Often referred to as “AK,” Krishnan was Malaysia’s third-richest individual, with a fortune exceeding $5 billion (over Rs 40,000 crore), according to the South China Morning Post. He was also the former owner of Aircel, which sponsored the IPL cricket team Chennai Super Kings. 

His businesses, including TGV Cinemas, Maxis Bhd, Astro Holdings, Bumi Armada, Measat Satellite Systems, and Tanjong Plc, have become household names across Malaysia.  

Though Krishnan preferred to maintain a low profile, he made headlines in 2014 when India charged him with alleged corruption related to Maxis’s acquisition of Aircel in 2006. Maxis has denied any wrongdoing, and the case is still ongoing. 

Krishnan was also a founding director of the state oil company Petronas and a close associate of former Prime Minister Mahathir Mohamad, whom he persuaded to pursue the construction of the iconic Petronas Twin Towers in the early 1990s. 

Born in Kuala Lumpur to a Sri Lankan civil servant, Krishnan pursued higher education at the University of Melbourne before earning an MBA from Harvard Business School in 1964. Once married to a Thai princess, Ananda spent most of his later years living in Europe.

A philanthropist at heart, Krishnan played a key role in global initiatives like Live Aid, using media to promote charitable causes. He remained a steadfast supporter of educational and philanthropic endeavors throughout his life.

The tycoon shunned publicity but became internationally known in the mid-1980s when he helped finance the Live Aid concert organized by rock star Bob Geldof.

(With inputs from agencies)