Malaysian media, telecoms and oil mogul Anada T Krishnan has died at age 86, his companies reported on Thursday.

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.

Ananda Krishnan is one of Malaysia's most influential and wealthiest individuals. In the past week, Mr Krishnan, also known as AK, has been in the limelight because of his son Ajahn Siripanyo, who gave up the world's riches to become a Buddhist monk.

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 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.