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#3016

Ong Leong Huat

Source of wealth: Property, construction, financial services

Net Worth

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Biography

Ong Leong Huat is the executive chairman and majority shareholder of financial services company OSK Holdings.

He is also the executive chairman of its property arm, OSK Property Holdings.

He was appointed non-executive chairman of OSK Ventures International, the group's venture capital and private equity firm, in 2023.

OSK Holdings and OSK Ventures International are listed in Malaysia.

OSK Holdings has a minority stake in RHB Bank, one of Malaysia's largest banks by assets.

Financial Assets

Exchange
MALAYSIA
Ticker
5053-MY
Company
OSK Holdings Bhd
Exchange
MALAYSIA
Ticker
0053-MY
Company
OSK Ventures International
Exchange
MALAYSIA
Ticker
0008-MY
Company
Willowglen MSC Bhd

The Great Lie of Mega-Fortunes: The Case of Ong Leong Huat

Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.

The immense fortune of Ong Leong Huat, linked to Finance & Investments and 'Property, construction, financial services', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 9 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 0.6 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.

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