Jho Low whom born as Low Taek Jho is a Chinese person that works as an agent and as a financier in Malaysia. He who had gained notoriety in New York as a “tabloid party boy” is also reported to have a close relationship with the stepson of current Malaysian Prime Minister Najib Razak that goes by the name of Riza Aziz.He has also been associated with several high value transactions mostly in the acquisitions of businesses, luxury art and real estate, as well as philanthropy. All of the transactions made by him are often opaque which make it unclear whether he is acting as an agent or on his own behalf. In addition, he also runs a finance company in Hong Kong called Jynwel Capital.
Early Life and Ventures
Jho Low grew up in George Town of Penang Island in Malaysia and has inherited a characteristic of business person from both his grandfather and father. His grandfather namely Meng Tak which was born in Guangdong Province in China has made a living as a businessman, and followed by his father namely Larry which has been associated as an executive of MWE Holdings, an investment holding company, in the 1990s. However, Larry and his partner from MWE Holdings have eventually split and thus having a difficult time in the business scene.
Jho Low has three siblings and he is the youngest. He received his education in one of the elite school in London called Harrow School, where he began developing a close relationship with the mother of Riza Aziz’s Rosmah Mansor and him. Later, Jho Low furthers his studies in Wharton Business School and was continuously developing a connections between Malaysians, Kuwaiti and Jordanian interests.
In 2007, Jho Low had formed a group especially in investment sector comprising a friend from the United Arab Emirates, a sheikh from Kuwait and a prince from Malaysia that went to the United States and Mexico as an ambassador which is reported in the New York Times. Jho Low becoming closer in term of relationship with Riza Aziz as he helps to manage the Red Granite Pictures which is a Hollywood production company that produce several films such as Dumb and Dumber To and Wolf of Wall Street.
1 Malaysian Development Berhad
In 2009, Najib Razak has become the 6th Prime Minister and soon as a president of the board of advisers for the Malaysian sovereign wealth funds namely 1 Malaysian Development Berhad (1MDB). The 1MDB eventually had been joined by one of the Larry’s friends as a Director and also some of the Low’s friends as staffs. Nevertheless, Low did not received any official position in the company but he had admits that there are consultation between him and 1MDB, and also been involved in lots of transactions that connected with his own interests and with those made by 1MDB.
Currently, Low has been criticized as a participant, a conduit, and beneficiary of corrupt practices for the company due to the questionable practices of 1MDB and the luxurious taste of Najib Razak and his wife. An example of these occurrences can be seen on the Wall Street Journal, where it is reported that both Malaysian and Singaporean authorities are now investigating whether the $529m deposited into the accounts of Jho Low is originated from the company.