SINGAPORE, Dec 4 — Banking tycoons Budi and Michael Hartono are the richest Indonesians, with a net worth of US$16.5 billion (RM56.6 billion), according to the latest Forbes Indonesia rich list.
The brothers have topped the list for the sixth year in a row.
The Hartono brothers added more than US$1 billion to their fortune thanks to the rising stock price of their most valuable holding, Bank Central Asia, Indonesia’s largest non-state-owned bank by assets. Shares are up 50 per cent in the past year.
Tobacco tycoon Susilo Wonowidjojo climbed to the No 2 spot from No 4 last year. His net worth is US$2.7 billion higher at US$8 billion this year. The stock price of his company Gudang Garam has soared by almost 60 per cent since the last list, compared with a 6 per cent increase for the Jakarta Composite Index.
While clove output dropped, investors in Gudang Garam have refocused on the bright prospects for machine-rolled cigarettes in Indonesia including a better crop.
Conglomerate chief Anthoni Salim, who runs Salim Group, remains at No 3. His net worth is down US$400 million to US$5.9 billion.
Salim Group, which operates food, telecom, retail, property and banking units, is well known for Indofood, the world’s largest manufacturer of instant noodles.
Overall, Indonesia’s 50 richest are collectively worth US$102 billion, up from US$95 billion last year.
The minimum net worth needed to make the list this year is US$500 million, up from US$390 million. — Bernama
