Tuesday, July 27, 2010

Tycoons splash RM8mil in St Tropez champagne war

SEEMS like everyone can't get enough of mystery big-spender Taek Jho Low, the young Malaysian millionaire who was spotted with celebrity socialite Paris Hilton.

Recently, the cherubic Jho Low has been under the media spotlight after he was photographed with the hotel heiress and her sister Nicky Hilton in a yacht in Paris.

Many have questioned the source of wealth of this 28-year-old tycoon who caught the attention of U.S paparazzi back in October last year.

The New York Post was the first to spot a "mysterious Malaysian" who was then suspected as the person behind the 40 over bottles of Cristal champagne for Lindsay Lohan in Angel Ball's after-party at 1Oak. (
read HERE)

He was reportedly making a splash at Avenue, appearing in "a fleet of black Cadillac Escalades" and flying eight Pink Elephant Club waitresses to Malaysia for a party.

Jho Low received much attention with his fiscal generosity including $300,000 worth of exclusive club memberships; $50,000-60,000 bill at Pink Elephant Club; $100,000 per-month apartment at Park Imperial; and $160,000 bar bill. (
more HERE)

According to a Daily Telegraph's website (
http://www.telegraph.co.uk/) report on Sunday, Jho Low's younger brother, Zhen Low, has joined in the spending frenzy.

He was competing with Winston Fisher, a New York property developer, to see who could afford more £600 (RM2,965) bottles of Cristal champagne for their chums at a party at Les Caves du Roy nightclub in St Tropez which was also attended by Paris.

The website reportedly mentioned that the "two rival billionaires spent a staggering €2 million (RM8.2 million) on champagne".

Amid rumours of Jho Low dating Paris, one of the photographs published on July 25 in a
gossip website showed both of them in close contact.

Born in Penang, Jho Low is the third generation of a wealthy family in the state which is involved in property and various other industries in Malaysia, Singapore and other parts of the world, reported
The Star.

He is also the non-executive director of UBG Berhad and a representative for both Majestic Masterpiece Sdn Bhd and Abu Dhabi-Kuwait-Malaysia Investment Corp (ADKM).

According to a Singapore Straits Time's article, a man named "
Joe Low", was said to have close ties with Prime Minister Najib Abdul Razak, and was involved with the Terengganu Investment Fund (TIA) as an adviser to the Sultan of Terengganu.

Meanwhile, a Malaysian blog -
http://www.laych.com/ - had done some investigations on Jho Low in a posting entitled "Just who is Jho Low?".

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