Billionaire Sultan Takes Malaysia Crown as Royals Gain Influence

Niluksi Koswanage and Kok Leong Chan
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(Bloomberg) -- The Sultan of Johor took the throne as Malaysia’s king, a role that’s become increasingly important in determining who holds power in the Southeast Asian nation.

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Sultan Ibrahim Iskandar was crowned king in the capital, Kuala Lumpur, on Wednesday. The head of Malaysia’s southernmost state starts a five-year term under the country’s unique constitutional monarchy, in which the hereditary royals of nine states take turns on the throne.

While the position is mostly ceremonial, one important duty is to decide who leads the government when no party has a majority. Sultan Ibrahim’s predecessor did so three times, most recently after the country’s first-ever hung parliament in 2022.

Sultan Ibrahim, 65, is a motorcycle-riding, Ferrari-driving, Instagram-savvy royal, who has pursued private business activities in addition to carrying out his official duties. His family’s assets with readily available valuations are worth at least $5.7 billion, according to an estimate by Bloomberg.

Read more: The Billionaire Sultan Set to Gain Even More Power in Malaysia

He was sworn in as the 17th king of Malaysia in an opulent ceremony decked in the royal colour of yellow and attended by all the Malay rulers and members of the government. Prime Minister Anwar Ibrahim completed the ceremony by announcing his appointment at the royal palace in Kuala Lumpur.

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