Early Life
Syed Mokhtar AlBukhary was born on December 12, 1951, in Alor Setar, Kedah, Malaysia. Growing up in a modest family with Yemeni roots, he faced financial constraints. His early life involved assisting his father in the cattle business, which provided him with an early understanding of entrepreneurship. Due to financial difficulties, he left school before completing his secondary education.
Rise to Success
AlBukhary began his business career in the 1970s as a rice trader. He later expanded his ventures into various sectors, including sugar and flour trading, setting the foundation for his future business endeavors. His breakthrough came in the 1990s when he capitalized on Malaysia's booming stock market. Through strategic acquisitions and investments, he established himself as a key figure in Malaysia's business landscape. He controls major companies like DRB-HICOM, a conglomerate with a strong presence in the automotive, property, and services industries, and MMC Corporation, a major player in Malaysia's infrastructure sector.
Key Business Strategies
AlBukhary's business acumen is evident in his strategic acquisitions and diversification across various industries. He controls a significant share of the Malaysian rice market through Padiberas Nasional Berhad (Bernas). He also owns the national car company, Proton, and has investments in media through Media Prima. His approach is direct and action-oriented, emphasizing decisive action over extensive discussion. Al-Bukhary's success is also attributed to his ability to maintain strong relationships with key figures in the government.
Philanthropy
Philanthropy is a central aspect of AlBukhary's life. In 1976, he began donating a portion of his salary to underprivileged families. In 1996, he founded the Albukhary Foundation, an international non-profit organization focused on education, healthcare, and disaster relief. His philanthropic contributions have exceeded $500 million globally, supporting communities in various countries. The Albukhary International University (AIU), founded in 2010, provides scholarships to students from disadvantaged backgrounds.
