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Low Taek Jho (Chinese: 刘德祖; Jyutping: lau4 dak1 zou2), often called simply Jho Low, is a Malaysian financier and agent. He gained notoriety as a "tabloid party boy" in New York. He is reported to have a close relationship with Riza Aziz, the stepson of embattled Malaysian Prime Minister Najib Razak. Low has been associated with numerous high value transactions, including acquisitions of businesses, luxury real estate and art, as well as philanthropy. These transactions are often opaque, leaving it unclear whether Low is acting as an agent or on his own behalf. Low runs a Hong Kong-based finance company called Jynwel Capital.

Early life and ventures

Low grew up in George Town, on Penang Island. His grandfather Meng Tak was a businessman born in Guangdong Province in China; his father Larry was an executive for an investment holding company called MWE Holdings in the 1990s. However, Larry eventually split with his partner and fell out of the business scene. Low was the youngest of three children and was sent to the elite Harrow School in London. In London he developed a close relationship with Riza Aziz and his mother Rosmah Mansor. He then attended the Wharton Business School, where he continued to develop connections with Malaysians as well as Kuwaiti and Jordanian interests. According to the New York Times, "y 2007, he had formed an investment group that included a Malaysian prince, a Kuwaiti sheikh and a friend from the United Arab Emirates who went on to become ambassador to the United States and Mexico." Low assists Aziz in the management of Red Granite Pictures, a Hollywood production company responsible for films such as Wolf of Wall Street and Dumb and Dumber To.

1Malaysian Development Berhad

Najib Razak gained the post of Malaysian Prime Minister in 2009. Soon, he became president of the board of advisers for 1MBD, the Malaysian sovereign wealth fund. A friend of Low's father became a director, and some of Low's friends joined the staff. Although Low never received an official position, he admits that he occasionally "consulted" with 1MBD, and was involved in a number of transactions connecting his own interests with those of 1MBD. 1MBD's questionable practices, combined with the luxurious tastes of the Prime Minister and his wife Rosmah, have created a political lightning rod. Low has been criticized as a conduit of, participant in, and beneficiary of corrupt practices. For instance, the Wall Street Journal has reported that Malaysian and Singaporean authorities are investigating whether $529m deposited into accounts controlled by Low originated from 1MDB.

Political support

In line with his connections to the Razak family, Low supported the Prime Minister during the 2013 elections. For instance, he organized a free pro-government concert in his home state of Penang. The concert featured American musicians Busta Rhymes and Ludacris and was criticized as unfair electioneering by the local, opposition government.

Wealth and donations

Although earlier in his career, Low had often claimed to be investing and making purchases on behalf of other investors or "friends," more recently Low has suggested that his family has considerable independent means. A 2014 Wall Street Journal profile called him a "scion" and estimated his family wealth at $1.75B. He began to make donations to high profile causes, for instance $25m to IRIN and $50m for the development of the artificial computer intelligence Watson for use in the treatment of cancer. He has also been connected to very high value art purchases, such as Basquiat's "Dustheads" for nearly $50m.

References

1. ^ Story, Louise and Stephanie Saul. "Jho Low, Well Connected in Malaysia, Has an Appetite for New York". New York Times February 8, 2015.
2. ^ Wright, Tom (2015-07-09). "Malaysian Financier Jho Low Tied to 1MDB Inquiry". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-07-11.
3. ^ Farrell, Maureen (October 21, 2014). "Scion Moves Into Spotlight on M&A Stage". Wall Street Journal.

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