Indonesia Expat

Forbes Reveals Indonesia’s 50 Richest People in 2017

Forbes has compiled a list of Indonesia’s 50 richest people which includes some familiar names like Salim Group CEO Anthoni Salim, media tycoon Harry Tanoesoedibjo and real estate conglomerate Ciputra, but features profiles many people would not recognize.

Ranked first on the list are the Hartono brothers, who according to Forbes have continued to distance themselves from the pack for nine years in a row. The pair’s climb to the top started when they inherited Djarum decades ago. However, they were not content with sticking to the tobacco business and smartly diversified by buying a stake in Bank Central Asia (BCA) after the Salim clan lost control of it during the 1997-1998 Asian financial crisis.

This year, their net worth nearly doubled from US$17.1 billion to over US$32 billion, which is largely due to developments in their BCA stake. In the past year, the brothers have upped their BCA stake to 55 percent from 47 percent, while the value of their BCA stake has risen by nearly half.

Among the new faces in the top 50 is Arini Subianto, claiming the Astra fortune from her late father Benny, who died in January. Another newcomer on the list is Hartono Kweefanus, who owns the biscuit empire Monde Nissin, which has become a household brand in Asia.

While most of the list’s top 50 have seen their wealth increase by 10 percent in the past year, not all in the list have had the same fortune. The total net worth of the country’s 50 richest is now US$126 billion, up from US$99 billion a year ago. The minimum to make the list is US$450 million, Forbes reports.

Photo by GetScoop

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