Tag Archives: R. Budi & Michael Hartono

Indonesia’s 50 Richest 2017


Indonesia’s 50 Richest 2017

#1 R. Budi & Michael Hartono – Entrepreneur 

R. Budi . Michael Hartono2017 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.

#2 Eka Tjipta Widjaja & Family

Eka Tjipta Widjaja2017 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.

#3 Susilo Wonowidjojo & Family

Susilo Wonowidjojo2017 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.

#4 Anthoni Salim & Family

Anthoni Salim2017 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.

#5 Sri Prakash Lohia

Sri Prakash LohiaReal 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.

#6 Boenjamin Setiawan & Family

Boenjamin Setiawan2017 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.

#7 Chairul Tanjung

Chairul Tanjung

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.

#8 Tahir & Family

TahirReal 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.

#9 Mochtar Riady & Family

Mochtar RiadyReal 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.

#10 Jogi Hendra Atmadja

Jogi Hendra Atmadja2017 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.

The Full List of Indonesia’s 50 Richest 2017

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