Old guard keeps leading Indonesia’s richest list

Old Guards Keep Leading Indonesia’s Richest List

Indonesia’s old-guard business tycoons remain the richest people in Southeast Asia’s largest economy, the new list of the 50 richest Indonesians released by Forbes Indonesia on December 5 reveals.

Prominent businessmen Robert Budi and Michael Hartono, also known as the Hartono brothers, top the list with a net worth of $37.3 billion. The Hartono brothers sourced over 80 per cent of their fortune from their investment in PT Bank Central Asia, Southeast Asia’s biggest lender by valua. The family rose to prominence after their father Oei Wie Gwan founded the Djarum cigarette company, which is now run by Robert’s son Victor Hartono.

The rest of the top-five are:

The Widjaja Family, the inheritors of industrial conglomerate Sinar Mas, in second position with a net worth of $9.6 billion;

PT Barito Pacific Timber head Prajogo Pangestu in third position ($7.6 billion);

Susilo Wonowidjojo, the son of major cigarette maker Gudang Garam founder Surya Wonowidjojo, in fourth position ($6.6 billion);

and Sri Prakash Lohia, chairman of pharmaceutical and textile conglomerate Indorama Ventures, in fifth position ($5.6 billion).

Other notable mentions include sixth-placed Salim family which runs Salim Group, a holding company with investments in food, banking and telecommunications, with $5.5 billion in wealth, as well as Mayapada Group founder Tahir in seventh position ($4.8 billion) and CT Corp chairman Chairul Tanjung in ninth position ($3.6 billion).

The Hartonos previously ranked 69th and 75th, respectively, in Forbes’ list of the wealthiest billionaires from 72 countries and territories worldwide released last year.

Sri Prakash Lohia was also among the few Indonesian billionaires mentioned in last year’s global list, occupying the 228th position.

Indonesia’s old-guard business tycoons remain the richest people in Southeast Asia’s largest economy, the new list of the 50 richest Indonesians released by Forbes Indonesia on December 5 reveals. Prominent businessmen Robert Budi and Michael Hartono, also known as the Hartono brothers, top the list with a net worth of $37.3 billion. The Hartono brothers sourced over 80 per cent of their fortune from their investment in PT Bank Central Asia, Southeast Asia's biggest lender by valua. The family rose to prominence after their father Oei Wie Gwan founded the Djarum cigarette company, which is now run by Robert’s son...

Old Guards Keep Leading Indonesia’s Richest List

Indonesia’s old-guard business tycoons remain the richest people in Southeast Asia’s largest economy, the new list of the 50 richest Indonesians released by Forbes Indonesia on December 5 reveals.

Prominent businessmen Robert Budi and Michael Hartono, also known as the Hartono brothers, top the list with a net worth of $37.3 billion. The Hartono brothers sourced over 80 per cent of their fortune from their investment in PT Bank Central Asia, Southeast Asia’s biggest lender by valua. The family rose to prominence after their father Oei Wie Gwan founded the Djarum cigarette company, which is now run by Robert’s son Victor Hartono.

The rest of the top-five are:

The Widjaja Family, the inheritors of industrial conglomerate Sinar Mas, in second position with a net worth of $9.6 billion;

PT Barito Pacific Timber head Prajogo Pangestu in third position ($7.6 billion);

Susilo Wonowidjojo, the son of major cigarette maker Gudang Garam founder Surya Wonowidjojo, in fourth position ($6.6 billion);

and Sri Prakash Lohia, chairman of pharmaceutical and textile conglomerate Indorama Ventures, in fifth position ($5.6 billion).

Other notable mentions include sixth-placed Salim family which runs Salim Group, a holding company with investments in food, banking and telecommunications, with $5.5 billion in wealth, as well as Mayapada Group founder Tahir in seventh position ($4.8 billion) and CT Corp chairman Chairul Tanjung in ninth position ($3.6 billion).

The Hartonos previously ranked 69th and 75th, respectively, in Forbes’ list of the wealthiest billionaires from 72 countries and territories worldwide released last year.

Sri Prakash Lohia was also among the few Indonesian billionaires mentioned in last year’s global list, occupying the 228th position.

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