Nazir Razak Net Worth 2023: Salary Career Earnings & Achievements The Talks Today

Get details about CIMB Group Chairman Nazir Razak internet price, wage and profession earnings particulars in 2023. How a lot does he earn?

A staunch supporter of Malaysia’s banking sector, Nazir Razak is a distinguished determine with an vital legacy.

Known for his contributions, Nazir served as Chairman and CEO of CIMB Group, a monetary companies large in Malaysia and the ASEAN area.

His management has been instrumental in shaping the panorama of the banking trade.

Apart from his skilled achievements, Nazir’s household connections add one other layer to his profile – he’s the youthful son of Malaysia’s second prime minister, Abdul Razak Hussein, who’s credited with spearheading the nation’s improvement initiatives.

In addition, Nazir is the brother of Najib Razak, who grew to become the nation’s sixth prime minister.

Nazir Razak’s multi-faceted position contains each his distinguished profession in finance and his integral place in Malaysia’s political lineage.

Nazir Razak Net Worth in 2023: How Much Will the Former CIMB Group Chairman Earn?

According to dependable sources, Nazir Razak, a seasoned Malaysian banker and former chairman of CIMB Group, is in cost. Significant net worth Estimated to be round RM1.5 billion (US$360 million).

That valuation takes under consideration his residual stake in CIMB Group, the monetary powerhouse he left in 2018, together with varied different investments and belongings.

Nazir’s stake in CIMB Group, which accounts for about 0.5% of the corporate, contributes considerably to his wealth, particularly given the establishment’s robust market capitalization of RM54 billion (US$13 billion) as of 2023 (present month).

Beyond CIMB, its monetary portfolio extends to different key entities together with IHH Healthcare, Sunway Group and AirAsia Group, reflecting a diversified funding technique.

This evaluation underscores Nazir Razak’s continued affect within the monetary sphere as his strategic investments proceed to yield vital returns, cementing his place as a distinguished determine in Malaysia’s financial panorama.

Nazir Razak Salary as Former CIMB Group Chairman: Career Earnings and Achievements

Nazir Razak started his profession in 1989 as a company advisor at Commerce International Merchant Bankers Berhad, which later grew to become CIMB.

In 1999, he grew to become the managing director and government director of the financial institution and headed it its transformation From a boutique Malaysian funding financial institution to a regional common financial institution working in 16 international locations.

He additionally oversaw CIMB’s enlargement into Islamic banking to change into one of many largest Islamic banks on this planet. He served as CEO of CIMB till 2014, when he stepped right down to take over as chairman.

He stepped down as chairman in 2018 after being cleared of any wrongdoing in reference to the switch of $7 million from his brother Najib to a private account as a part of the broader 1Malaysia Development Berhad scandal.

During his tenure as CEO and Chairman of CIMB, Nazir Razak earned a total of RM211 million (US$51 million) in wage and bonuses, in keeping with the financial institution’s annual experiences.

His highest annual revenue was RM34 million (US$8 million) in 2012 when he was CEO. As chairman, his lowest annual revenue was RM6 million (US$1.4 million) in 2018.

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Apart from his position at CIMB, Nazir Razak has held varied positions in different organizations corresponding to Khazanah Nasional Berhad, Employee Provident Fund, Blavatnik School of Government at Oxford University and Better Malaysia Assembly.

He additionally printed his memoirs titled ‘What’s In A Name’ in 2021, the place he shared his private {and professional} journey and his views on Malaysian politics and economics.

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