For the first time in more than a decade, no Indonesian conglomerate owner appears among the five richest people in ASEAN, according to the latest Forbes Real-Time Billionaires data from early August 2026.
A Vietnamese entrepreneur now holds the top position, with the Philippines, Thailand, and Singapore also in the top five. This is a stark change from early 2026, when four of Southeast Asia’s five wealthiest individuals were Indonesians: Prajogo Pangestu, Low Tuck Kwong, Budi Hartono, and Michael Hartono.
The change follows a decline in the fortunes of several Indonesian tycoons, driven by stock market corrections and weaker commodity prices.
Here is the latest list of the five richest people in ASEAN:
1. Pham Nhat Vuong (Vietnam) – US$33.6 billion
The founder of Vingroup, Pham Nhat Vuong has seen his wealth rise largely due to VinFast’s expansion into the global electric vehicle market. In addition to automotive manufacturing, Vingroup has business interests in property, technology, education, and healthcare.
2. Enrique Razon Jr. (The Philippines) – US$21.6 billion
The Filipino billionaire is best known as the owner of International Container Terminal Services Inc. (ICTSI), one of the world’s largest port operators. Growth in the international logistics sector, coupled with the recovery of the casino and hospitality industries, has contributed to the increase in his net worth throughout this year.
3. Sarath Ratanavadi (Thailand) – US$17.7 billion
Through Gulf Energy Development, Sarath Ratanavadi has benefited from rising company valuations driven by strong demand for digital infrastructure, including data centres and cloud computing services, which continue to expand rapidly across the region.
4. Dhanin Chearavanont (Thailand) – US$17.6 billion
As chairman of the Charoen Pokphand (CP) Group, Dhanin Chearavanont oversees a business empire spanning agribusiness, food production, livestock, and modern retail. The group’s diversified operations across multiple countries have helped maintain his wealth despite the global economic slowdown.
5. Jason Chang (Singapore) – US$17.4 billion
Jason Chang’s fortune has been fuelled by the recovery of the global semiconductor industry. Robust demand for chips—driven by artificial intelligence (AI), data centres, and increasingly sophisticated electronic devices—has been a major factor supporting the growth of his wealth.
Meanwhile, as of Wednesday, the 5th of August, the list of Indonesia’s 10 richest people based on Forbes Real-Time Billionaires data is as follows:
- Low Tuck Kwong – US$16.8 billion
- Prajogo Pangestu – US$16.1 billion
- R. Budi Hartono – US$15.5 billion
- Anthoni Salim – US$10.6 billion
- Tahir and family – US$8.8 billion
- Sri Prakash Lohia – US$8.3 billion
- Otto Toto Sugiri – US$7.4 billion
- Marina Budiman – US$5.3 billion
- Lim Hariyanto Wijaya Sarwono – US$4.5 billion
- Chairul Tanjung – US$4.0 billion