Indonesia’s 50 Richest 2017

R. Budi . Michael Hartono 2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$32.3 B

The Hartono brothers get more than two-thirds of their fortune from their investment in Bank Central Asia.
The Hartonos bought a stake in BCA, after another wealthy family, the Salims, lost control of the bank during the 1997-1998 Asian economic crisis.
The roots of the family fortune stem from kretek cigarette maker Djarum, started by their father and now run by Budi’s son Victor.
Family holdings include popular electronics brand Polytron and prime real estate in Jakarta.

2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$9.1 B

A Chinese immigrant to Indonesia, Eka Tjipta Widjaja, got his start selling biscuits as a teen.
Today his Sinar Mas has interests in paper, real estate, financial services, agribusiness and telecom.
It recently set up an oleochemical plant with Spanish company Cepsa on the Indonesian island of Riau.
Son Franky runs palm oil giant Golden Agri-Resources while son Oei Hong Leong manages his own investments from Singapore.

2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$8.8 B

Susilo Wonowidjojo and his family get their fortune from publicly traded kretek maker Gudang Garam, which produces 70 billion cigarettes a year.
His father Surya, who apparently got his start working for his uncle’s tobacco business, founded Gudang Garam in 1958.
His older brother, Rachman Halim, took over a quarter-century later, and ran it until his death in 2008.
Susilo has been president director since 2009, his sister Juni Setiawati is president commissioner.

2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$6.9 B

Anthoni Salim heads the Salim Group, a family-run investment holding with a variety of interests including food, banking and telecommunications.
Father Liem Sioe Liong (d. 2012), who started the group, had close ties to former Indonesian president Suharto.
During the 1997-1998 Asian financial crisis, the Salims lost control of Bank Central Asia to the Hartonos, who are now the country’s richest family.
Salims are majority shareholders (44%) of Hong Kong-listed investment firm First Pacific, which has assets of $17.2 billion in six countries.
The family owns just over 50% of Indofood, one of the world’s largest instant noodle producers with $5 billion in 2016 sales; Anthoni is CEO.

Real Time Net Worth — as of 1/18/18 US$7 B
2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$6.4 B

Sri Prakash Lohia made much of his fortune producing a basic component used to make plastic bottles.
He and his father immigrated to Indonesia, where they co-founded Indorama as a maker of spun yarn in 1976.
It is now a petrochemicals powerhouse making a range of industrial products, including polyethylene, polypropylene and medical gloves.
Lohia remains chairman but lives in London and has handed reins largely to son Amit, who runs the business on a daily basis.
The company is expanding in Africa where it has a factory in Nigeria that produces fertilizer.

2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$3.6 B

Boenjamin Setiawan, who has a doctorate in pharmacology, founded Kalbe Farma in a garage in 1966.
Kalbe Farme is now the largest pharmaceutical company in Indonesia.
“Dr. Boen,” as he is nicknamed, also controls Mitra Keluarga, which operates 12 hospitals.

Real Time Net Worth — as of 1/18/18 US$3.6 B
2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$3.6 B

Chairul Tanjung’s CT Corp. is best known for issuing credit cards, operating hypermarkets and running TV stations.
His Trans Retail has grocery stores under the Carrefour and Transmart brands.
His group also controls the Wendy’s franchise in Indonesia and owns the Versace, Mango and Jimmy Choo franchises.
In July 2017, CT Corp. sold a 49% stake in its insurance arm to Prudential Financial of the U.S., which is betting on growth in life insurance.
CT Corp. inked a deal with AccorHotels of France in November 2017 to open 30 hotels in Indonesia.

Real Time Net Worth — as of 1/18/18 US$3.6 B
2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$3.5 B

Tahir, who goes by one name, is founder of Mayapada Group, a company with interests in banking, a hospital chain and most prominently, real estate.
Tahir owns the recently completed Strait Trading Building in Singapore as well as the Goodway Hotel in Batam.
An active philanthropist, Tahir has donated millions to combat the worldwide refugee crisis and to promote education for Indonesians.
He co-owns the licensee that publishes Forbes Indonesia.
His wife Rosy is the daughter of Indonesian tycoon Mochtiar Riady.

Real Time Net Worth — as of 1/18/18 US$3 B
2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$3 B

Mochtar Riady is founder of $7.5 billion (revenue) Lippo Group, now run by sons James and Stephen.
Born in East Java, Riady opened a bicycle shop at age 22 and went on to build a successful banking career until the 1997 financial crisis.
Today Lippo Group’s interests include real estate, retail, healthcare, media and education.
Riady’s son Stephen runs Singapore property outfit OUE, which owns the iconic U.S. Bank Tower in downtown Los Angeles.
Grandson John, who heads Lippo’s e-commerce venture MatahariMall, is also overseeing a digital banking drive through their Bank Nobu.

2017 Indonesia’s 50 Richest Net Worth as of 11/29/17 US$2.7 B

Jogi Hendra Atmadja is head of Mayora Group, Indonesia’s largest food processor, making everything from coffee and cereal to candy and biscuits.
Mayora Group sells its brands in over 90 countries.
His family are third-generation Chinese immigrants who started making biscuits in 1970.
Atmadja and his family, including brothers and cousins, own a large stake in the business.