Indonesia’s 50 Richest 2017
#1 R. Budi & Michael Hartono – Entrepreneur
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.
#2 Eka Tjipta Widjaja & Family
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.
#3 Susilo Wonowidjojo & Family
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.
#4 Anthoni Salim & Family
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.
#5 Sri Prakash Lohia
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.
#6 Boenjamin Setiawan & Family
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.
#7 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
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.
#9 Mochtar Riady & Family
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.
#10 Jogi Hendra Atmadja
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.