Learn about the income, net worth, and career earning statistics of Nazir Razak, the chairman of the CIMB group, in 2023. What is his salary?
A pillar of the Malaysian banking industry, Nazir Razak is a well-known individual with a noteworthy legacy.
As the chairman and CEO of CIMB Group, a major financial services provider in Malaysia and the ASEAN area, Nazir was well-known for his efforts.
His leadership was crucial in determining how the banking sector developed.
In addition to his professional accomplishments, Nazir’s family history lends further significance to his reputation. He is the youngest son of Abdul Razak Hussein, the second Prime Minister of Malaysia, who was credited with leading the country’s development programs.
Furthermore, Nazir is the brother of Najib Razak, the sixth prime minister of the nation.
Nazir Razak’s complex function includes his important position in Malaysia’s political heritage as well as his illustrious business career.
How Much Will Nazir Razak, the Former Chairman of CIMB Group, Make in 2023?
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The seasoned Malaysian banker and former chairman of CIMB Group, Nazir Razak, is said to have a large net worth of over RM 1.5 billion (USD 360 million), according to credible sources.
This estimate accounts for his remaining shares in the financial behemoth CIMB Group, which he left in 2018, as well as a variety of assets and investments.
Nazir’s fortune is mostly derived from his stakes in CIMB Group, which account for around 0.5% of the business. This is particularly true given the institution’s strong market value, which was RM 54 billion (USD 13 billion) as of [current month] 2023.
In addition to CIMB, his financial portfolio includes significant holdings in IHH Healthcare, Sunway Group, and AirAsia Group, demonstrating a well-rounded approach to investing.
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This assessment highlights Nazir Razak’s lasting impact on the financial world since his well-thought-out investments continue to provide sizable profits, enhancing his stature as a prominent player in Malaysia’s economy.
Nazir Razak’s Salary As The Previous CIMB Group Chairman: Career Earnings And Accomplishments
In 1989, Nazir Razak began working as a corporate counselor for Commerce International Merchant Bankers Berhad, a company that subsequently changed its name to CIMB.
In 1999, he assumed the role of managing director and chief executive officer, spearheading the bank’s metamorphosis from a niche Malaysian investment bank to a regional universal bank operating across 16 nations.
Additionally, he managed CIMB’s growth into one of the biggest Islamic banks in the world via its entry into Islamic banking. Up to his resignation in 2014, he was the CEO of CIMB; he thereafter became the chairman.
After being found not guilty of any misconduct over a $7 million transfer from his brother Najib into his account as part of the larger 1Malaysia Development Berhad scandal, he resigned as chairman in 2018.
According to the bank’s annual reports, Nazir Razak received pay and incentives of RM 211 million (USD 51 million) during his time serving as chairman and CEO of CIMB.
When he was the CEO in 2012, his maximum yearly salary was RM 34 million (about USD 8 million). In 2018, his lowest yearly salary as chairman was RM 6 million (about USD 1.4 million).
In 2021, he also released a book titled “What’s In A Name,” in which he discussed his career and personal experiences as well as his opinions on the politics and economics of Malaysia.
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