Nazir Razak is a well-known and respected figure in Malaysian banking who left behind a major legacy. Nazir was the chairman and chief executive officer of CIMB Group, a financial services behemoth in Malaysia and the ASEAN region, and was widely recognized for his contributions.
His leadership significantly influenced the development of the finance sector.
In addition to his professional accomplishments, Nazir’s familial connections contribute an additional dimension to his persona—he is the youngest son of Abdul Razak Hussein, the second Prime Minister of Malaysia, who gained international renown for spearheading developmental endeavors within the country.
Indeed, Nazir is related to Najib Razak, the sixth Prime Minister of the nation, after whom he succeeded.
Nazir Razak’s complex persona comprises his illustrious tenure in the finance industry as well as his fundamental position in the political heritage of Malaysia.
Net Worth of Nazir Razak
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Based on reputable sources, it has been estimated that seasoned Malaysian banker and former CIMB Group chairman Nazir Razak possesses a considerable net worth of around RM 1.5 billion (USD 360 million).
This assessment considers his remaining stakes in CIMB Group, a prominent financial institution from which he resigned in 2018, in addition to a variety of investments and assets.
Nazir’s financial resources are substantially augmented by his ownership stake of approximately 0.5% in CIMB Group, which equates to a substantial market capitalization of RM 54 billion (USD 13 billion) as of [current month] 2023.
In addition to CIMB, the individual’s diversified investment portfolio comprises significant holdings in IHH Healthcare, Sunway Group, and AirAsia Group, among others.
The assessment highlights the lasting impact that Nazir Razak has had on the financial domain, given that his astute investments consistently generate significant profits, thereby consolidating his position as a prominent individual in the Malaysian economic sphere.
Salary of Former Chairman Nazir Razak | Career Earnings And Accomplishment
Commencing his professional trajectory in 1989, Nazir Razak assumed the role of a corporate advisor at Commerce International Merchant Bankers Berhad (CIMB).
He oversaw the bank’s transformation from a boutique Malaysian investment bank to a regional universal bank with operations in sixteen countries after being appointed managing director and CEO of the bank in 1999.
Furthermore, he oversaw CIMB’s transformation into one of the largest Islamic institutions globally through its expansion into Islamic banking. Before assuming the role of chairman in 2014, he served as the CEO of CIMB.
In 2018, after receiving a clean bill of health concerning a $7 million transfer from his brother Najib to his account as a component of the broader 1Malaysia Development Berhad scandal, he tendered his resignation as chairman.
According to the bank’s annual reports, Nazir Razak amassed a total of RM 211 million (USD 51 million) in salary and compensation during his tenure as CEO and chairman of CIMB.
His greatest annual salary was RM 34 million (approximately $8 million) in 2012, during his tenure as CEO. In 2018, he earned a minimum of RM 6 million (USD 1.4 million) in his capacity as chairman.
Nazir Razak held a variety of positions at organizations including Khazanah Nasional Berhad, Employee Provident Fund, Blavatnik School of Government at the University of Oxford, and Better Malaysia Assembly, in addition to his position at CIMB.
In his 2021 memoir, “What’s In A Name?,” he detailed his personal and professional experiences as well as his perspectives on the economy and politics of Malaysia.
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