Israel launched its nearly five-monthlong bombardment of Gaza in response to an October 7 attack by Hamas that resulted in about 1,160 deaths and the taking of around 250 hostages.
Tan, whose net worth of more than US$695 million makes him the 28th richest person in the country, according to Forbes, called for Malaysians to stop boycotting Starbucks Malaysia, which he said is wholly locally owned and run – stressing that more than 80 per cent of its employees are Muslims.
“It’s all Malaysian-owned, it’s run by Malaysians. It’s just a franchise, it’s not owned by an American,” the 72-year-old said in comments reported by local newspaper Business Times.
But the appeal appears to have fallen flat on social media, where few made the distinction about ownership or empathised with the mega-rich Tan, rejecting the call to end one of the few direct actions available to Muslim Malaysians enraged by the Israeli deadly assault on Gaza.
Malaysia backs South Africa’s ICJ case against Israel’s ‘genocidal’ acts in Gaza
Malaysia backs South Africa’s ICJ case against Israel’s ‘genocidal’ acts in Gaza
“All of a sudden the ultra-rich tycoon spoke up to gain sympathy from the people. Perhaps he just realised that the source of his wealth comes from the people,” said Wak Solihin on Facebook.
Another Facebook user named Diana said that she was surprised to hear the multimillionaire – who rarely makes public comments – raising concerns about the jobs of average Malaysians.
“One of the richest men who never cared for the people of Malaysia, suddenly speaks on behalf of us,” she said.
Others said Tan’s interjection on the boycott issue served as a reminder to the country’s rich and privileged that ordinary people still retain some power.
“They are also afraid of the Malaysian people’s boycott power. With the people’s power, even governments can fall,” Shahrom Siddiq said.
On February 21, Berjaya Food reported a 38 per cent year-on-year decline in revenue – falling to 182.55 million ringgit (US$38.6 million) in the October-December quarter, compared to 295.32 million ringgit during the same period in 2022.
While Tan says he expects the company to rebound, research houses have posted advisory notes to investors warning that the boycott could last longer than initially expected with no near-term resolution to the conflict in sight.
Malaysian bank advises investors to sell Starbucks shares as boycott bites
Malaysian bank advises investors to sell Starbucks shares as boycott bites
Amid the brickbats, many on social media urged Tan to scrap his Starbucks business altogether and start his own coffee brand – free from any associations with wider geopolitics.
“You know why people are boycotting Starbucks, even if there are only minimal ties to the parent company,” Instagram user Tobias Isaac de Jong said.
“Why can’t you just start a coffee chain exclusively owned by Berjaya that isn’t affiliated with that particular regime? I reckon many Malaysians will flock to it.”
The high cost of coffee at the American chain is another point of contention, with Facebook user Shen Yee Liang saying the price at Starbucks is double that of local cafes.
“We save a lot of money and at the same time, we will help small businesses to grow, pay their bills and earn a living. Win-win. Isn’t this way better?”