According to estimates, the combined wealth of Indonesia’s 50 richest residents reached $263 billion this 12 months, up 4% from $252 billion in 2023. Forbes. This growth is as a result of concerns concerning the purchasing power of the center class, as President Prabowo Subianto’s government targets economic growth of 8% by 2025, higher than the 5.1% growth forecast for this 12 months.
Since the last review, Indonesia’s most important stock index has risen 3%, helping to spice up wealth. Notably, for the primary time the wealth threshold required to be included on the list exceeded $1 billion, up from $940 million last 12 months.
Indonesia’s top billionaires 2024
Brothers R. Budi and Michael Hartono have held the title of Indonesia’s richest people for over a decade, with a combined fortune of $50.3 billion, up by $2.3 billion this 12 months. This growth is confirmed by the performance of Bank Central Asia (BCA), its most important source of wealth, which has seen significant growth in loans.
In addition to their stake in BCA, the Hartono brothers invested in Polytron and prime real estate in Jakarta. Over the last five years, their wealth has increased by almost 30%. The family’s wealth also comes from Djarum, the tobacco company founded by their father and now run by Victor Hartono, Budi’s son.
Petrochemicals and energy tycoon Prajogo Pangestu retains second place despite his fortune falling 25% to $32.5 billion as a result of valuation adjustments for his geothermal energy company. He began his profession as a driver and shrimp paste entrepreneur, then moved into the timber industry, founding Barito Pacific, which went public in 1993 and had revenue of $2.8 billion last 12 months.
In third place stays coal magnate Low Tuck Kwong with a fortune price $27 billion. The founding father of Bayan Resources earned $3.5 billion last 12 months.
Born in Singapore in 1948, Kwong moved to Indonesia in 1972, founded a construction company a 12 months later, and went into coal mining 15 years later. In 2004, he founded Bayan Resources, which became a public company in 2008.
A wide range of sectors dominate billionaire wealth
Several famous names reappeared on the list, including Hary Tanoesoedibjo, whose fortunes recovered because of the appearances of MNC Digital Entertainment and MNC Land, and Han Arming Hanafia, founding father of DCI Indonesia.
Meanwhile, three people, including Benny Suherman, the owner of Cinema XXI, the country’s largest cinema chain by way of the variety of screens, suffered losses as a result of lower than expected revenues.
The most important sources of wealth for Indonesian billionaires proceed to be energy, manufacturing and diversified industries. Of the 50 billionaires, 31 saw their net price increase. Notably, for the primary time the minimum wealth threshold required to be included within the list exceeded $1 billion, up from $940 million last 12 months.
Indonesia’s 50 richest list
| DEGREE | NAME | NET VALUE | INDUSTRY |
|---|---|---|---|
| 1 | R. Budi and Michael Hartono | $50.3 billion | Varied |
| 2 | Prajogo Pangestu | $32.5 billion | Varied |
| 3 | Low Tuck Kwong | $27 billion | Energy |
| 4 | The Vijay family | $18.9 billion | Varied |
| 5 | Antoni Salim together with his family | $12.8 billion | Varied |
| 6 | Sri Prakash Lohia | $8.7 billion | Production |
| 7 | Agoes Projosasmito | $7 billion | Metals and mining |
| 8 | Tahir and family | $5.3 billion | Varied |
| 9 | Chairul Tanjung | $5.2 billion | Varied |
| 10 | Devi Kam | $4.8 billion | Energy |
| 11 | Jogi Hendra Atmadja with family | $4.4 billion | Food and beverages |
| 12 | Djoko Susanta | $4.3 billion | Fashion and retail |
| 13 | Bakhtiar Karim together with his family | $4.1 billion | Production |
| 14 | The Setiawan family | $4.05 billion | Healthcare |
| 15 | Lim Hariyanto Wijaya Sarwono | $4 billion | Metals and mining |
| 16 | Teodor Rachmat | $3.9 billion | Varied |
| 17 | Garibaldi Thohir together with his family | $3.8 billion | Energy |
| 18 | Martua Sitorus | $3.6 billion | Production |
| 19 | Sukanto Tanoto | $3.4 billion | Varied |
| 20 | Wijono and Hermanto Tanoko with family | $3.3 billion | Varied |
| 21 | Hilmi Panigoro together with her family | $3.25 billion | Energy |
| 22 | Alexander Ramlie | $3.2 billion | Metals and mining |
| 23 | Susilo Wonowidjojo together with his family | $2.9 billion | Production |
| 24 | Ciliandra Fangiono with family | $2.4 billion | Production |
| 25 | Mokhtar Riady with family | $2.25 billion | Varied |
| 26 | Otto Toto Sugiri | $2.21 billion | Technology |
| 27 | Bambang Sutantio | $2.2 billion | Food and beverages |
| 28 | Peter Sondakh | $2.1 billion | Finance and investments |
| 29 | Arini Subianto with family | $2 billion | Metals and mining |
| 30 | Putera Sampoerna and family | $1.85 billion | Finance and investments |
| 31 | The Hamami family | $1.8 billion | Construction and engineering |
| 32 | The Ciputra family | $1.7 billion | Property |
| 33 | Edwin Soeryadjaya with family | $1.6 billion | Energy |
| 34 | Punjabi hands | $1.5 billion | Media and entertainment |
| 35 | Jenny Quantero and Engka Wibowo | $1.49 billion | Energy |
| 36 | Hary Tanoesoedibjo | $1.45 billion | Media and entertainment |
| 37 | Lim Chai Hock | $1.4 billion | Energy |
| 38 | The Sulistyo family | $1.35 billion | Production |
| 39 | Eddy Sugianto | $1.34 billion | Metals and mining |
| 40 | Husain Djojnegoro together with his family | $1.33 billion | Production |
| 41 | Marina Budiman | $1.32 billion | Technology |
| 42 | Kiki Barki | $1.3 billion | Energy |
| 43 | Husodo Angkosubroto and family | $1.28 billion | Varied |
| 44 | Soegiarto Adikoesoemo | $1.25 billion | Varied |
| 45 | Murday Poo | $1.2 billion | Varied |
| 46 | Kuncoro Wibowo together with his family | $1.19 billion | Fashion and retail |
| 47 | Irwan Hidayat together with his family | $1.15 billion | Healthcare |
| 48 | Sjamsul Nursalim | $1.1 billion | Automotive |
| 49 | Haryanto Tjiptodihardjo | $1.06 billion | Production |
| 50 | By Hanafia’s weapons | $1.05 billion | Technology |
