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Wealth of Prabowo'€™s business empire dwarfs Jokowi'€™s, Kalla'€™s

  • Hans Nicholas Jong and Hasyim Widhiarto

    The Jakarta Post

Jakarta | Wed, July 2, 2014 | 09:21 am
Wealth of Prabowo'€™s business empire dwarfs Jokowi'€™s, Kalla'€™s Wealth and power: Presidential candidate Joko “Jokowi” Widodo (from left), his running mate Jusuf Kalla, General Elections Commission (KPU) chief Husni Kamil Malik, vice-presidential candidate Hatta Rajasa and presidential candidate Prabowo Subianto pose after the candidates submitted their wealth reports to the commission in Jakarta on Tuesday. (JP/Wendra Ajistyatama) (from left), his running mate Jusuf Kalla, General Elections Commission (KPU) chief Husni Kamil Malik, vice-presidential candidate Hatta Rajasa and presidential candidate Prabowo Subianto pose after the candidates submitted their wealth reports to the commission in Jakarta on Tuesday. (JP/Wendra Ajistyatama)

Wealth and power: Presidential candidate Joko '€œJokowi'€ Widodo (from left), his running mate Jusuf Kalla, General Elections Commission (KPU) chief Husni Kamil Malik, vice-presidential candidate Hatta Rajasa and presidential candidate Prabowo Subianto pose after the candidates submitted their wealth reports to the commission in Jakarta on Tuesday. (JP/Wendra Ajistyatama)

The wealth of the Gerindra Party'€™s presidential hopeful Prabowo Subianto totals Rp 1.67 trillion (US$140.46 million) and $7.5 million, as disclosed by the General Elections Commission (KPU) on Tuesday.

In the report, verified recently by the Corruption Eradication Commission (KPK), the former Army lieutenant-general provided a glimpse into his wealth, which is mostly derived from securities assets in 26 companies worth Rp 1.52 trillion and $7.5 million.

The KPU did not disclose in detail the name of the companies involved, but Prabowo and his younger brother Hashim Djojohadikusumo are known to control the Nusantara Group business empire.

While relatively unknown, the group engages in the energy, plantation, mining and forestry businesses.

Prabowo'€™s other assets include Rp 105.8 billion worth of properties, including four plots of land.

His wealth also comes in the form of non-fixed assets, such as eight vehicles amounting to Rp 1.43 billion, three agriculture and mining business assets worth Rp 12.19 billion, collectible antiques valued at Rp 3 billion and other assets worth Rp 1.22 billion.


Prabowo also has Rp 20.49 billion in four bank accounts and $3,134 in another bank account, as well as Rp 28.99 million in debt.

During his vice presidential candidacy alongside then-presidential candidate Megawati Soekarnoputri, Prabowo'€™s wealth was reported to be valued at Rp 1.57 trillion and $7.5 million, around Rp 1.5 trillion of which was derived from securities trading.

Gerindra secretary-general Ahmad Muzani attributed the leap in Prabowo'€™s asset value to the increase in his amount of properties.

'€œThere is the addition of one property in Ragunan, South Jakarta, which is now used as Gerindra'€™s headquarters,'€ he told The Jakarta Post.

Muzani said that Prabowo'€™s wealth also increased due to the rising taxable value of property (NJOP), while his other assets did not experience a dramatic increase.

Based on the KPU report, the wealth of rival presidential candidate Joko '€œJokowi'€ Widodo, a furniture businessman and former mayor of Surakarta in Central Java, equated to a tiny fraction of Prabowo'€™s wealth.

The non-active Jakarta governor reported wealth of Rp 29.89 billion, mostly derived from the valuation of his property in the form of 24 plots of land.

His other assets include non-fixed assets, such as 12 vehicles worth Rp 954.5 million, one agriculture and mining business asset worth Rp 572.44 million, 16 precious metal pieces worth Rp 27.2 million, four precious stones worth Rp 15 million and other assets worth Rp 319.15 million.

Jokowi did not report any securities, but he reported Rp 488.14 million worth of cash in 16 bank accounts and $27,633 in three other accounts as well as Rp 1.93 billion in debt.

Both vice presidential candidates edged out Jokowi'€™s wealth, with Hatta and Kalla, eastern Indonesia'€™s first tycoon with his flagship business the Hadji Kalla Group, reporting Rp 30.23 billion and Rp 465.61 billion in total wealth, respectively.

However, Hatta refused to declare vehicle assets, saying that he did not own any vehicles at the point when he submitted his wealth report, as he had no need to own one.

'€œI used official vehicles from my office [when serving as coordinating economic minister] so I did not need [to own one]. But I just bought one recently,'€ Hatta said.

Abdullah Dahlan of the Indonesian Corruption Watch (ICW) said the KPU and the KPK must consider asking future candidates to also report assets belonging to their spouses and children to probe any indications of money laundering.

'€œThis is necessary as many public officials are allegedly hiding their illegal assets by registering them under the names of family members or business partners,'€ he said.

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