Malaysia's New King Sultan Ibrahim Iskandar Is a Billionaire Who Owns Private Army, 300 Cars, Jets and More

What Is Sultan Ibrahim Iskandar's Net Worth?

The Sultan of Joho, Sultan Ibrahim Iskandar, took the throne as Malaysia’s king Wednesday. He was crowned His Majesty Yang di-Pertuan Agong, the equivalent of the king in Malaysia at the country’s capital Kuala Lumpur.

The 65-year-old head of the Johor royal family now has the role that has become increasingly important in the country. He started a five-year term under the country’s unique constitutional monarchy. His election to the national throne was widely expected as Malaysia has the world’s only rotating system of monarchy. Under this, nine hereditary rulers, known as “sultans”, rotate the role of head of state between them every five years, as per Reuters.

While the role is mostly ceremonial, the king has the important duty of deciding who leads the government when no party has a majority. The last king did so thrice, most recently after the country’s first-ever hung parliament in 2022. The king also has the power to pardon those who have been convicted of crimes and participate in a meeting with the country’s leaders and top policymakers.

What is Sultan of Johor Ibrahim Iskandar’s net worth?

Sultan Ibrahim Iskandar, the motorcycle-riding, Ferrari-driving, Instagram-savvy royal, has pursued private business activities in addition to carrying out his official duties.

According to Bloomberg, his family’s assets with readily available valuations are at least worth $5.7 billion. However, this estimate excludes his land holdings and his fleet of private jets and 300 luxury cars. It also excluded the family’s stakes in major projects ranging from real estate to industrial parks to oil and gas facilities.

Sultan Ibrahim Iskandar’s Sources of Income

Business and Investments

Sultan Ibrahim Iskandar and his family, own nearly a quarter (24%) of one of Malaysia's biggest cell service providers, U Mobile, per the Bloomberg report. The Sultan has investments in private companies worth $483 million and in public companies worth $105 million.

The royal family is also part of several major projects on the southern coast of Johor, located at the top of the Singapore Strait, one of the world's most significant shipping corridors. Johor is Malaysia’s second-most populous state and the Sultan has several businesses in the region.

The Sultan formed a joint alliance with Southern Alliance Mining Ltd., majority-owned by Malaysian Chinese businessman Pek Kok Sam, in 2021. The alliance aimed to explore gold mining in a northeastern corner of Johor on land mostly owned by the Sultan, Bloomberg reported citing a public filing.

As per the filing, the Sultan received a 15% stake, a 3 million ringgit ($634,000) one-time fee, and a 30% “tribute” of all future pretax profits from mining operations, from the joint alliance.

Sultan Ibrahim Iskandar’s Total Assets

Real Estate Assets

The Istana Bukit Serene, a palace completed in 1933 is the sultan’s official residence. Further, Sultan Iskandar and his family own $4 billion worth of land in Tyersall Park, Singapore. The untended swathe of the jungle is almost three times the size of the White House grounds and sits next to the Botanic Gardens.

Johor Sultan Ibrahim Iskandar also financed the crown arches on government-owned land to attract visitors and remind the public that he oversees the state, as per reports. Further, the royal family owns a 26% stake in the developer of Forest City, a luxury residential enclave built on a man-made island.

Car Collection and Private Jets

Malaysia’s new billionaire king owns 300 luxury cars including Ferraris and a car which was reportedly gifted by Adolf Hitler himself.

The family also owns a fleet of private jets which features three Gulfstreams and a gold-and-blue Boeing 737. Sultan Ibrahim is also a motorbike enthusiast as he takes famous trips on his Harley-Davidson around Johor.

Private Army

The Johor family is the only royal family in Malaysia to have a private army, a relic gifted by the former British rulers of the state. The army was granted as a condition for Johor to join modern-day Malaysia after it gained independence from Britain in 1967, as per ABC News.

Social Media Following

Personal Life

Sultan Ibrahim Iskandar is married to Raja Zarith Sofiah. Sofiah is from another royal family. She is an Oxford graduate and author of children's books. The couple has six children together.

Controversies

In the recent past, Sultan Ibrahim Iskandar has been the subject of criticism and controversies. Former Prime Minister Mahathir Mohamad criticized the Johor family’s business dealings, as he stated that the country’s constitutional rule says that a king “shall not actively engage in any commercial enterprise”.

Sultan Ibrahim Iskander had said that he had vowed to check the power of Prime Minister Anwar Ibrahim, in an interview with Singapore’s Straits Times newspaper. He further called for the Malaysian Anti-Corruption Commission and Petronas, a state-owned oil and gas giant, to report to the king instead of the prime minister.

FAQs

Who is Malaysia's new king?

Sultan Sultan Ibrahim ibni Almarhum Sultan Iskandar has been crowned as Malaysia's new king. 

Who is Sultan Ibrahim Iskandar?

Sultan Ibrahim  Iskandar is the 17th and current Yang di-Pertuan Agong which is equivalent to the title of the ruler of Malaysia.