Top 10 Richest People in Indonesia; Forbes December 2023 Version

TEMPO.CO, Jakarta - Forbes, an American business magazine, regularly publishes a list of the world's richest people on its Real-Time Billionaires ranking site. The list includes Indonesian conglomerates as well.

As a country with a dynamic economy, Indonesia has several influential figures in the business world. According to Forbes, as of Dec. 5, most of the richest Indonesians experienced a decline in their wealth. This could be due to various factors, including a drop in the company’s share price.

Here is the list of the top 10 Indonesian billionaires in the world, according to Forbes in December 2023:

1. Prajogo Pangestu 

Prajogo Pangestu is the richest person in Indonesia whose a net worth of US$48.5 billion. He started his business in the timber industry in the 1970s and later expanded into the petrochemical sector by acquiring PT Chandra Asri Petrochemical Tbk. and the coal business through PT Petrindo Jaya Kreasi. His fortune increased by US$926 million from the previous month.

2. Low Tuck Kwong

Low Tuck Kwong, a Singapore-born businessman who became Indonesian in 1992, is the founder of the coal company Bayan Resources. He also controls Metis Energi, a renewable energy company in Singapore.

Through his company SEAX Global, Low is the figure behind the undersea cable system for internet connectivity that connects Singapore, Indonesia, and Malaysia. His net worth decreased by about US$267 million from the previous month and is currently valued at US$27.1 billion.

3. R. Budi Hartono

Robert Budi Hartono is the owner of Djarum, an Indonesia’s well-known cigarette company, which he inherited from his father, Oei Wie Gwan. Together with his brother Michael, who is the fourth richest person in the country, Robert started exporting tobacco products in 1972. He launched his first cigarette brand, Djarum Super, in 1981. 

Robert is also the owner of one of the largest private banks in Indonesia, PT Bank Central Asia Tbk (BCA). His fortune fell by US$215 million to US$24.7 billion.

4. Michael Hartono 

Michael Hartono is just right after his brother Robert Budi Hartono on the list of the richest people in Indonesia. Other than jointly developing the family business, Michael is also the largest shareholder in BCA. He also owns an oil palm plantation in West Kalimantan with an area of about 65,000 hectares. His net worth decreased by US$207 billion to US$23.6 billion.

5. Sri Prakash Lohia

Sri Prakash Lohia is the founder of the spun yarn manufacturing company, Indorama Corporation. He expanded his business into the petrochemical sector by manufacturing various products, including textile raw materials, medical gloves, and fertilizers. Despite a downward trend in the assets of Indonesian conglomerates, Sri Prakash managed to post a surplus of US$13 million to US$8.4 billion.

6. Chairul Tanjung

Chairul Tanjung, the former Coordinating Minister for the Indonesian Economy, owns CT Corp which oversees several subsidiaries with diverse businesses, including Trans Corp, Bank Mega, and CT Global Resources. His wealth dropped by US$111 million to US$5.8 billion.

7. Lim Hariyanto Wijaya Sarwono 

Lim Hariyanto Wijaya Sarwono made it back to the top ten Indonesian billionaires. He amassed his fortune from the Harita Group, a conglomerate firm operating in various industrial fields, such as real estate, palm oil plantations, nickel and bauxite mining, alumina refineries, coal, and expedition services. His total net worth was US$4.5 billion, down by US$153 million from the previous month.

8. Dewi Kam

Dewi Kam is a minority shareholder in the coal mining firm PT Bayan Resources Tbk., which is owned by Low Tuck Kwong. She is also the owner of PT Sumbergas Sakti Prima (SSP), which was involved in the Jeneponto coal-fired power plant (PLTU) project in South Sulawesi. Her net worth is US$4.4 billion, down US$43 million from the previous month.

9. Djoko Susanto

Djoko Susanto is the owner of PT Source Alfaria Trijaya Tbkm, which is best known for operating various well-known supermarket brands such as Alfamart, Alfa Express, Alfamidi, and Lawson. He has more than 19,000 convenience stores throughout the archipelago and more than 1,200 stores in the Philippines. Compared to the previous month, his assets declined by US$29 million to US$4.3 billion.

10. Tahir and Family

The tenth richest people in Indonesia in December 2023 is Tahir and Family, with a net worth of US$4.2 billion, up by US$123 million from the previous month. Tahir is the founder of the Mayapada Group, a conglomerate with interests in banking, healthcare, and real estate. 

The billionaire has stakes in publicly traded Bank Mayapada and Maha Properti Indonesia. He also owns property in Singapore, including through the listed property company MYP.

RADEN PUTRI | ANDIKA DWI

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