Chen Lip Keong Obituary: Concussion billionaires when NagaCorp Boss Chen Lip Keong Passes Away At 75

Publish date: 2024-05-18

Chen Lip Keong Obituary: Renowned casino magnate and billionaire, Tan Sri Dr. Chen Lip Keong, has passed away at the age of 75, leaving behind a legacy of success and wealth.

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Obituary of Casino Magnate Tan Sri Dr. Chen Lip Keong

Tan Sri Dr. Chen Lip Keong, the renowned casino magnate and founder of NagaCorp Ltd., has left behind a remarkable legacy in the industry. With deep sadness, we mourn the passing of this visionary entrepreneur and influential figure.

Passing of Chen Lip Keong

Obituary of Casino Magnate Tan Sri Dr. Chen Lip Keong

The world was saddened by the news of Tan Sri Dr. Chen Lip Keong’s passing. A true pioneer in the casino industry, he dedicated his life to building NagaCorp Ltd. into a global powerhouse. His contributions and leadership will be sorely missed by colleagues, friends, and the entire business community.

Unclear Cause of Death

While the exact cause of Tan Sri Dr. Chen Lip Keong’s passing remains uncertain, we remember him for his immense achievements rather than the circumstances surrounding his demise. As we reflect on his remarkable journey, let us celebrate his indomitable spirit and the lasting impact he has made on the world of business.

Chen’s Wealth and Ranking

Tan Sri Dr. Chen Lip Keong’s entrepreneurial prowess and strategic acumen propelled him to become one of Malaysia’s wealthiest individuals. His remarkable success placed him seventh on Forbes Malaysia’s 50 richest list for 2023. This achievement is a testament to his unwavering dedication and business acumen.

Chen’s Net Worth and Ranking

With a net worth of US$2.8 billion (approximately RM13.06 billion) as of May 31, Tan Sri Dr. Chen Lip Keong’s financial achievements were truly remarkable. Despite his passing, his legacy lives on, and he will forever be remembered as one of the world’s most influential business leaders.

NagaCorp and Stock Performance

NagaCorp Ltd., the renowned casino company founded by the late Tan Sri Dr. Chen Lip Keong, has had a significant impact on the global market. Let’s take a closer look at the company’s stock performance and its overall market standing.

NagaCorp’s Stock Price Decline

In recent months, NagaCorp’s stock price has experienced a noticeable decline. Over the past six months, the stock price has dropped by 30%, and year to date, it has seen a decline of 54%. This downward trend has raised concerns among investors and analysts, prompting a closer examination of the factors influencing the company’s market performance.

Market Capitalization of NagaCorp

As of the most recent data, NagaCorp’s market capitalization stands at HK$14.42 billion (approximately RM8.61 billion). This figure reflects the total value of the company’s outstanding shares in the market. While the decline in stock price has impacted the market capitalization, it is important to consider the broader context and factors that may contribute to the company’s overall market standing.

Chen’s Background and Business Ventures

Tan Sri Dr. Chen Lip Keong, the late casino magnate, had a fascinating background and a remarkable journey in the world of business. Let’s delve into his educational background, his entrepreneurial endeavors, and his involvement in various companies.

Chen’s Education and Career Choice

Despite graduating as a doctor of medicine from the University of Malaya, Tan Sri Dr. Chen Lip Keong made a bold career choice to focus on business. This decision showcased his entrepreneurial spirit and his determination to make a significant impact in the corporate world. His educational background undoubtedly provided him with a unique perspective and a solid foundation for his future ventures.

Establishment of NagaCorp

In 1995, Tan Sri Dr. Chen Lip Keong founded NagaCorp, a casino company that would go on to become a global success story. His vision and strategic thinking were instrumental in transforming NagaCorp into a leading player in the industry. Under his leadership, the company flourished, leaving a lasting legacy in the world of casinos and entertainment.

Chen’s Sons and Their Roles

Tan Sri Dr. Chen Lip Keong’s entrepreneurial spirit has been passed down to his sons, who have taken on key roles within the family business. Chen Yiy Fon, Chen Cherchi, and Chen Yiy Hwuan were appointed as CEOs in April 2022, responsible for operations, finance, and hotels, respectively. This seamless transition of leadership ensures the continuity of Tan Sri Dr. Chen Lip Keong’s vision and legacy.

Chen’s Involvement in Other Companies

Beyond his role in NagaCorp, Tan Sri Dr. Chen Lip Keong was also involved in other notable companies. He was in charge of Petaling Tin Bhd, an investment group and real estate developer, as well as Karambunai Corp Bhd, a resort operator and hospitality firm. His diverse business interests showcased his versatility and his ability to make an impact across various industries.

Renowned casino magnate and founder of NagaCorp Ltd., Tan Sri Dr. Chen Lip Keong, has passed away at the age of 75. The cause of his death remains unclear. Chen, who was also the company’s senior CEO and a major shareholder, had a stroke over a decade ago, but it is uncertain if it contributed to his demise. With a net worth of $2.8 billion, Chen was the seventh wealthiest individual in Malaysia. NagaCorp’s stock price has seen a significant decline in recent months. Chen’s three sons have taken over as CEOs of the company. Our thoughts go out to his family and loved ones during this difficult time.

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