What is Jho Low’s Net Worth?
Jho Low, a Malaysian fugitive criminal businessman with a net worth of $150 million, is wanted in connection with the 1Malaysia Development Berhad scandal. He is alleged to have been the mastermind behind a global scheme involving the systematic embezzlement of $4.5 billion from the Malaysian sovereign wealth fund 1MDB.
Low has contended that he is being targeted by Malaysian authorities due to his support of former Prime Minister Najib Razak, himself convicted as part of the 1MDB scandal. As of this writing, Low is a fugitive wanted by Malaysian authorities and is believed to be hiding out in rural China.
Low diverted the 1MDB money to finance an incredibly lavish lifestyle for himself and Prime Minster Najib Razak. He acquired a portfolio of real estate that included mansions all over the world, a private jet, and a $250 million yacht. Along the way, he funneled money to help keep Prime Minister Razak in power and his wife Rosmah stocked with hundreds of millions of dollars worth of clothes and jewelry.
Low also used the stolen money to maintain friendships with many major entertainment superstars, including Alicia Keys, Leonardo DiCaprio, Jamie Foxx, and Miranda Kerr. Through his friendship with DiCaprio, Low financed the movie “The Wolf of Wall Street.” Much of the film’s profits were ultimately seized by the government of Malaysia.
Background of Jho Low
Jho Low was born in 1981 in George Town, Malaysia to an affluent Malaysian Chinese family. He was educated at Chung Ling High School, the International School of Penang (Uplands), and the prestigious Harrow School in London. Following his time in London, Low attended the Wharton School of the University of Pennsylvania in the United States.
Jho Low’s Business Ventures
Jho Low began managing funds for his family and friends in the US, and later established an investment group that led to lucrative deals. He consolidated his fortune into Jynwel Capital by 2010, which allowed him to develop close relationships with sovereign wealth funds like Kuwait Investment Authority and UAE’s Mubadala. Jynwel’s involvement in major transactions include the $660 million purchase of New York City’s Park Lane Hotel and the $2.2 billion takeover of Coastal Energy.
The 1MDB Scandal
Jho Low is infamous for his connection to the Malaysian sovereign wealth fund 1Malaysia Development Berhad (1MDB). It was revealed in 2015 that former Malaysian Prime Minister Najib Razak had siphoned over $700 million from the fund into his personal accounts, with Low allegedly being the mastermind behind the scheme. Low helped to move the embezzled money internationally through shell companies and offshore bank accounts.
The US Department of Justice later found that over $4.5 billion had been diverted from 1MDB, which was used to purchase luxury items and properties. Low even invested $100 million from the fund in the production of Martin Scorsese’s Oscar-nominated film “The Wolf of Wall Street.” Attempts were also made to use the embezzled money for political donations and lobbying in the US.
The scandal sparked protests in Malaysia and resulted in investigations into financial and criminal activity connected to 1MDB in at least six countries. In the US, rapper Pras and former Goldman Sachs chairman Tim Leissner were among those charged for their involvement.
After the election of new Malaysian Prime Minister Mahathir Mohamad in 2018, former Prime Minister Najib Razak was charged and convicted for his role in the scandal and sentenced to 12 years in prison.
Jho Low Charged for Back-Channel Campaign to Drop 1MDB Investigation
Malaysian Prime Minister Mohamad issued warrants for Jho Low’s arrest in 2018 in connection with the 1MDB scandal. Low, however, claimed innocence and believed that the authorities were after him for political reasons. As a result, he became an international fugitive and is believed to be living in China while still being involved with some of his companies. He also reportedly has Cypriot citizenship.
Despite being on the run, Low is still facing legal consequences. In the US, a federal criminal case is ongoing against him. In 2021, Low was charged for running a back-channel campaign to persuade the Trump administration to drop its investigation of his involvement in the 1MDB scandal.
Jho Low’s Relationships with Celebrities
Jho Low, before becoming a fugitive, was romantically involved with Taiwanese singer-songwriter and actress Elva Hsiao and Victoria’s Secret model Miranda Kerr. He also had associations with several high-profile celebrities, including Leonardo DiCaprio, Jamie Foxx, Paris Hilton, Alicia Keys, and Busta Rhymes. Many of these celebrities were gifted lavish presents, funded by embezzled 1MDB money.
In 2017, Miranda Kerr surrendered $8 million worth of jewelry that Low had gifted her to the US government. Other celebrities, including Leonardo DiCaprio, also returned the gifts they had received from Low, including paintings by Picasso and Basquiat.
