Vincent Tan Chee Yioun | |
|---|---|
| 陳志遠 | |
 Vincent in April 2012 | |
| Born | Tan Chee Yioun (1952-02-23)23 February 1952 (age 73) |
| Citizenship | Malaysia |
| Education | Batu Pahat High School |
| Occupations |
|
| Years active | 1984–present |
| Title |
|
| Spouse | Esther Tan[1] |
| Children | 11, including Chryseis Tan, Robin Tan and Nerine Tan[1] |
| Parents |
|
| Relatives | Danny Tan (brother) |
| Awards |  Order of Loyalty to the Crown of Malaysia (1991) |
Vincent Tan Chee Yioun[2] (Chinese:陳志遠;pinyin:Chén Zhìyuǎn;Pe̍h-ōe-jī:Tân Chì-uán; born 23 February 1952) is a Malaysian business magnate and investor who is the founder and chairman ofBerjaya Corporation, a diversified conglomerate listed on theMalaysian stock exchange. Besides holding stakes through the Berjaya Corporation group of companies, Tan's other stakes include interest in internet–related businesses, water utilities, media, retail and telecommunications.
In 2010, he entered theForbes billionaire list, with an estimated worth of USD 1.6 billion (RM4.2 billion).[3] Tan's success in the Malaysian business sector has been attributed in part to his close association with prominent Malay political figures.[2][4] As of April 2024,Forbes estimated his net worth at $730 million, making him the 29th richest person in Malaysia.[1]
Tan was born inBatu Pahat in 1952, and studied atBatu Pahat High School.[5]Tan had originally planned to study law inNew Zealand, but as his father's business was failing, he found work as a clerk in a bank instead. He then sold life insurance forAIA and became an agency manager at AIA by the age of 23.[6]
Tan then started private companies in trading, credit, general insurance and real estate. He started a joint venture withTokio Marine & Fire Insurance that became United Prime Insurance. In 1981, he won aMcDonald's franchise in Malaysia, took an advance operations course atHamburger University, and became the managing director of McDonald's Malaysia in 1982.[6]
In 1984, Tan moved into Berjaya, which purchased 48% of the consumer durables company Regnis the same year.[6] Tan had association with the then finance ministerDaim Zainuddin.[7] In 1985, Tan bought 51% ofSports Toto from the Malaysian government. Pre-tax profit of Sports Toto rose from RM 5 million in 1985 to RM 36 by April 1989. He injected his shares in Sports Toto into Berjaya to gain control of Berjaya. In 1988, he swapped his shares in Berjaya for Raleigh Bhd, a lost-making company linked to Daim, which was then renamed Inter-Pacific and turned into Berjaya's holding company. Under his leadership, Berjaya's pretax profit rose from RM 700,000 in 1984 to RM 70 million in 1989.[6]
In 2010, Tan received a gaming license for his wholly owned subsidiary Ascot Sports Sdn Bhd.[8] However, the license was revoked in October 2010, and as of July 2018 the government said it had no plans to reissue it.[9]
Below are the listed subsidiaries under Berjaya Corporation Berhad[citation needed]:
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In May 2010, Tan became the owner ofCardiff City after aconsortium of Malaysian investors (led by Dato Chan Tien Ghee) bought 30% of the club's shares.[10][11]
In May 2012, the consortium said they would invest £100 million to increase the stadium's capacity and build a new training ground, providing they were given permission torebrand the club from blue to red.[12] The plans sparked outrage among Cardiff supporters,[13] who quickly organised an emergency meeting to discuss how they would respond to the proposal.[14] The plans were subsequently dropped.[15]
One month later, the club went ahead with the rebranding, to expand Cardiff's appeal in foreign markets. Cardiff's badge was redesigned to include a red dragon, while their home kit was changed from blue to red. The club's £30 million debt to the Langston Corporation was also cleared.[16]
In April 2013, following Cardiff's promotion to thePremier League,[17] Tan promised to spend £25 million to help Cardiff establish themselves in the top flight,[18] and publicly stated his interest in listing his 36.1% stake on theKuala Lumpur Stock Exchange (KLSE). Aninitial public offering (IPO) would sell shares in the club to the public for the first time, in an attempt to gain capital to expand the business.[11]
In October 2013, Tan created more controversy after suspending Iain Moody, the club's head of recruitment, who had apparently overspent by £15 million during thesummer transfer window.[19] Moody was initially added to the backroom staff by then managerMalky Mackay, and helped Cardiff sign several players ahead of their inaugural Premier League campaign. He was replaced by Alisher Apsalyamovby, a 23-year-oldKazakh who was previously on work experience with the club and is a friend of Tan's son.[20] A few months later, following an investigation over Apsalyamovby's visa,[21] he was forced to leave the club.[22]
Despite going over budget during the summer, Mackay publicly stated his plans to boost his squad during theJanuary transfer window, which upset Tan, who said that no money would be made available.[19] Mackay said he would not resign following Tan's criticism,[23] and was subsequently backed by Cardiff fans.[24] Towards the end of December, Tan told Mackay to resign or be sacked.[25] He managed two more games before being sacked.[26] After his sacking, it was alleged that Mackay had sent texts of ananti-Chinese nature, which was defended byDave Whelan, owner of his subsequent employersWigan Athletic. Tan responded by calling both of them racists, and saying "I hope that stops at two racists in Wigan, not snowballing to 2,000 or 20,000 racists in Wigan."[27]
On 2 January 2014, formerManchester United strikerOle Gunnar Solskjær was hired as Mackay's replacement,[28] but he was unable to save Cardiff from relegation.[29] Solskjær left the club later that year and was replaced byRussell Slade.
In October 2016, Tan hired Neil Warnock, at the time the oldest working coach in Britain, as manager. By 2018, Cardiff City had been promoted to the Premier League once again.[30] In their one season back in the Premier League, they finished 18th and were relegated back to the Championship.[31]
In December 2013, Tan boughtBosnian clubFK Sarajevo.[32] Under the deal, Cardiff will cooperate with FK Sarajevo, exchanging players and taking part in a footballacademy, yet to be established, which Tan has said will lure new talents. FK Sarajevo have since brought in players such asMiloš Stojčev,Džemal Berberović andNemanja Bilbija, who helped the club win the2013–14Bosnian Cup, their first title since winning the domesticPremier League in2006–07. Prior to the Cup triumph,Robert Jarni was brought in as manager of the club in December 2013 by Tan, but was dismissed after only four months (on 7 April 2014, while the team were still in the semi-finals of the Bosnian Cup) because the club had failed to keep their chances of winning the premier league title alive during the later stages of the2013-14 season.[citation needed] In July 2014, FK Sarajevo played a friendly match against Tan'sCardiff City FC U21, winning 4–1.[33] FK Sarajevo qualified for thePlay-off round of the 2014–15 UEFA Europa League, where they lost to GermanBundesliga sideBorussia Mönchengladbach.
In May 2014, the heaviest rains and floods in 120 years hit Bosnia and the surrounding region. The worst affected areas were the towns ofDoboj andMaglaj, which were cut off from the rest of the country when all major roads flooded. Damage from landslides and floods was estimated to run into hundreds of millions ofeuros and twenty-four people were killed. The cost of the disaster, officials said, could exceed that of theBosnian War. In June 2014, Tan made a personal donation of €114,000, while the people of Malaysia raised a total of €169,000 towardBosnia's flood relief fund.[34]
On 17 July2014, during the halftime break of theEuropa League qualifying match between FK Sarajevo andNorwegian clubHaugesund at theOlympic Stadium inSarajevo, Tan presented pledges of assistance of €255,000 each to two hospitals in Doboj and Maglaj, to be used for medical equipment. He said in a pre-match interview: "Because of my involvement with Sarajevo Football Club, when I heard about the floods, I urged theSun newspaper to run a campaign to raise donations to help Bosnia."[35]
Belgian football teamKV Kortrijk was bought for five million euro by Vincent Tan on 12 May 2015.[36] In 2019, Tan convinced the club to sign Malaysian teen sensationLuqman Hakim Shamsudin ofSelangor on a five-year contract.[37]
In 2014, it was announced that Tan was part of a large ownership group involved withMajor League Soccer clubLos Angeles FC, who joined the league in 2018.[38]
Reports from 2017 indicate that Tan is looking to sell Cardiff City, his stake in Major League Soccer’s Los Angeles FC and his professional teams in Bosnia and Belgium.[39][40] In 2020, Tan sold his 20% stake in the club.[41]
In April 2014, Tan (through one of his representatives) bought a two-year-oldcolt from Doncaster Bloodstock Breeze-Up Sales for £190,000. It will be trained by Australian Jeremy Gask inWiltshire.Eamonn Wilmott, Gask's business partner, said: "We are very excited, and pleased to have Mr Tan involved. The horse looks exceptional and dominated the parade rings outside the sales."[42]
Tan is the founder of the Better Malaysia Foundation, which provides interest-free loans and scholarships to students in need. In 2011, he was featured onForbes Asia's list of Heroes of Philanthropy due to his pledge to donate half his fortune to social causes.[43]
In 2017, Vincent Tan donated RM500,000 toMercy Malaysia andTzu Chi Malaysia, bringing the total sum of his donations to both organizations to RM7.6 million.[44]
Malaysia Commander of theOrder of Loyalty to the Crown of Malaysia (PSM) –Tan Sri (1991)[45][46]
Kelantan
Knight Grand Commander of theOrder of the Life of the Crown of Kelantan (SJMK) –Dato' (2005)[46]
Pahang
Knight Grand Companion of theOrder of the Crown of Pahang (SIMP) – formerlyDato', nowDato' Indera (1989)[46]
Terengganu
Knight Grand Commander of theOrder of the Crown of Terengganu (SPMT) –Dato' (1991)[46]
Knight Grand Companion of theOrder of Sultan Mahmud I of Terengganu (SSMT) –Dato' Seri (1997)[46]
