Tony Fernandes

Anthony (Tony) Fernandes, born in Kuala Lumpur, is a top Malaysian entrepreneur and ranks #33 on Forbes’ richest in Malaysia, with an estimated net worth of $530 million.

Fernandes, who bought the airline for only 20p (or roughly $.33 cents) is the CEO of AirAsia, which was a failed government-owned airline that was deeply in debt. Today, AirAsia is one of the world’s best, low-cost airlines, with the motto, “Now Everyone Can Fly.”

Fernandes graduated from the London School of Economics and, while in London, briefly worked for Virgin Records. He went back to Malaysia and became a Warner Music executive. However, when Time Warner merged with America Online, Inc., Fernandes decided to pursue his dream of starting an airline, a sector he gained experience in while working with Virgin Atlantic as an auditor years before.

AirAsia, which is headquartered in Malaysia, has become a sponsorship for other foreign airlines in which Fernandes has invested.

Indonesia AirAsia, an Indoneasian low-cost carrier, is 49% owned by Fernandes. Many other joint ventures similar to this have made AirAsia an umbrella to airlines in India, Japan, Thailand, and the Philippines.

Fernandes has dabbled in other projects, as well. In 2007, he founded Tune Hotels. This chain has hotels in Britain, Australia, and other countries. He also is newly involved in the entertainment sector, hosting a reality TV series, Apprentice Asia. Fernandes is known for his unconventional ventures. He is founder of the Caterham F1 Formula One team, but sold it in 2014. Furthermore, Fernandes bought football club, QPR, in Britain.

Anthony Fernandes took a failed airline, in which he mortgaged his home and used his life savings to revive, and transformed it into a leading, industry player.