Malaysia's billionaire Sultan Ibrahim acquires 'GOLD 1' number plate for record $314,000

By Minh Long February 21, 2024 | 10:58 pm PT

The 17th King of Malaysia, the Sultan of Johor, Sultan Ibrahim Iskandar, salutes the guard of honor at National Palace in Kuala Lumpur, Malaysia, Wednesday, Jan. 31, 2024. Photo by AP

Malaysia’s billionaire Sultan Ibrahim Iskandar has purchased a special-edition "GOLD 1" car number plate for 1.5 million Malaysian ringgit (US$314,700), marking the highest-ever amount paid for a plate in the country.

The funds generated from the bid will be directed to Malaysia's federal government, the Straits Times reported on Feb. 20.

The "GOLD" number plate series was introduced in celebration of the 50th anniversary, or golden jubilee, of the Malaysian federal territories.

The bidding for the "GOLD" series took place from Feb. 1-5, with the starting bid for plates featuring single-digit numbers set at 20,000 Malaysian ringgit ($4,172).

Malaysia’s Sultan Ibrahim Iskandar (left) receives the "GOLD 1" car number plate from Malaysian Transport Minister Anthony Loke on Feb. 20, 2023. Photo from Sultan Ibrahim’s Instagram account

Sultan Ibrahim's latest acquisition not only clinched the prestigious number plate but also surpassed his own previous record.

In June 2023, he successfully bid 1.2 million Malaysian ringgit ($250,300) for the coveted "FF1" number plate.

Known for his passion for luxury and a penchant for unique vehicles, Malaysia's new king has invested his wealth in vintage cars, motorcycles, private jets, and exotic animals, Business Insider has reported.

In contrast to the more discreet luxury embraced by the British royals, Sultan Ibrahim frequently showcased his collection of Ferraris and motorcycles on social media platforms.

Bloomberg's estimate placed the combined assets of the king and his family at around $5.7 billion.