Ananda Krishnan was a founding director of state oil firm Petronas and in 2007, he led the buyout of Malaysian telecom firm Maxis.

Malaysian billionaire Ananda Krishnan, whose business empire spans energy and telecommunications services, has died at the age of 86, his privately held investment company said Thursday.

Malaysian Business Tycoon and billionaire Tan Sri Ananda Krishnan, who is counted among the wealthiest individuals died on Thursday at 86 in Kuala Lumpur. His private investment firm, Usaha Tegas, released a statement about his demise but didn't reveal the reason behind his death.

KUALA LUMPUR (Reuters) - Malaysian billionaire Ananda Krishnan, whose empire included businesses from telecommunications to oil and gas, has died, his private investment firm Usaha Tegas said on Thursday.

Billionaire tycoon Ananda Krishnan, known for his vast business empire spanning telecommunications, oil and gas, and media, passed away peacefully

The businessman, said to be a close associate of former prime minister Mahathir Mohamad, is also known for his pivotal role in the development of iconic landmarks such as the Petronas Twin Towers and its surroundings.

Malaysia’s third-richest person, Krishnan built a diversified business empire spanning telecommunications, media, satellites, oil and gas, and real estate.

Malaysian media, telecoms and oil mogul Ananda Krishnan has died at age 86, his companies reported on Thursday. No cause of death was disclosed. Krishnan founded Malaysia's second-largest mobile operator,

Malaysian billionaire Ananda Krishnan, whose business interests ranged from oil and gas to telecommunications, has died at the age of 86, his private investment company said.

Ananda Krishnan, the elusive billionaire who rose from oil trader to one of Malaysia’s most prolific dealmakers and bankrolled the 1985 Live Aid concert, has died. He was 86.

The founder of satellite operator Measat, Astro, and Maxis, Krishnan was a prominent figure in Malaysia’s business landscape.