Sunday, December 7, 2014


Widjaja family

Top 10 richest in Indonesia

The latest Forbes Indonesia Rich List reveals that Hartono brothers, Budi and Michael have topped the charts for the sixth year straight.

The Hartono banking tycoons added more than US$1 billion (S$1.3 billion) to their fortune after their Bank Central Asia shares went up 50 per cent last year. To date, they are worth a staggering US$16.5 billion.

In comparison, the Ng brothers from Singapore who top the nation at US$12.8 billion, don't even come close to the Hartonos'.

Not to be outdone, tobacco tycoon Susilo Wonowidjojo made it to the second top spot at US$8 billion, from fourth place last year. The stock price of Wonowidjojo's company Gudang Garam has soared by almost 60 per cent since the previous list and he had accrued US$2.7 billion more since the stock increment.

Head of Salim Group, Anthoni Salim remains the third richest person in Indonesia, with a net worth of US$5.9 billion. The conglomerate chief oversees the group which operates food, telecom, retail, property and banking units. Salim Group is also synonymous with Indofood, the world's largest manufacturer of instant noodles.

Collectively, Indonesia’s 50 richest are worth US$102 billion, up from last year's figure of US$95 billion. Making the list this year was quite a challenge since US$500 million is the minimum net worth to qualify, up from last year's US$390 million.

The increased minimum net worth means that some tycoons from the previous list have been edged out. One notable absentee is Kiki Barki, whose net worth dropped after the stock price of his coal company, Harum Energy, plummeted.

Despite being on the country's richest list, majority of returning qualifiers saw their wealth fall or stagnate. This could be attributed to a declining rupiah and the coal and palm oil industries facing bad times as commodities prices slide.

On the bright side, it is interesting to see new faces with the increase of the minimum net worth. The most well-known figure is owner of Blue Bird taxis, Purnomo Prawiro. The taxi company was listed in November and Prawiro made the Forbes list at number 25 with a net worth of US$1.3 billion.

Joining him on the list are newcomers Husodo Angkosubroto of conglomerate Gunung Sewu Group in the 23rd place with a net worth of US$1.45 billion, and timber baron Abdul Rasyid at number 41 with a net worth of US$805 million. Coming close at the 44th spot is herbal medicine entrepreneur, Irwan Hidayat who is worth US$660 million.

The top 10 richest in Indonesia are:

1) Budi & Michael Hartono; US$16.5 billion

2) Susilo Wonowidjojo; US$8 billion

3) Anthoni Salim; US$5.9 billion

4) Eka Tjipta Widjaja; US$5.8 billion

5) Sri Prakash Lohia; US$4.4 billion

6) Chairul Tanjung; US$4.3 billion

7) Boenjamin Setiawan; US$3.5 billion

8) Mochtar Riady; US$2.7 billion

9) Peter Sondakh; US$2.3 billion

10) Sukanto Tanoto; US$2.11 billion

--Friday, Dec 05, 2014  ASIA ONE

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