This story is part of Forbes’ coverage of Malaysia’s Richest 2025. See the full list here.

Casino billionaire Lim Kok Thay put his succession plans into motion at his family’s Genting Group, stepping down as CEO in February after nearly two decades. Tan Kong Han, longtime president and chief operating officer, is now the first non-family member to run the integrated resorts giant, with Lim, 73, staying on as executive chairman.

Meanwhile, Tan, who was also CEO of palm oil producer Genting Plantations, ceded that role to his deputy, Lim’s eldest son, Keong Hui. The 40-year-old is also deputy chief executive at Genting Group and its leisure and hospitality arm Genting Malaysia, which owns and operates Resorts World Genting, continuing the legacy of his late grandfather, Lim Goh Tong, who opened the flagship casino resort in 1971.

The transition comes amid challenges. Genting’s net profit in 2024 dropped 11% to 2 billion ringgit ($452 million) from a year earlier due to weaker earnings from its Singapore and U.S. casinos, though revenue edged up to 27.7 billion ringgit.

Lim (net worth: $1.8 billion) has steered Genting’s expansion both overseas and into new businesses, including energy, real estate and biotech. His latest push is upgrading Resorts World Sentosa in Singapore, a S$6.8 billion ($5.1 billion) project that will add 700 rooms across two new hotels at the waterfront site.