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Jakarta Post

40 richest Indonesians control Rp 1.62 quadrillion in assets

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, December 28, 2017   /   01:29 pm
40 richest Indonesians control Rp 1.62 quadrillion in assets That's a lot of cash. (www.facebook.com/officialefcc/File)

The combined wealth of Indonesia’s 40 richest people in 2017 reached Rp 1.62 quadrillion (US$119.2 billion), according to Megawati Institute executive director Arief Budimanta.

“The wealth of the 40 Indonesians grew by 23 percent. The wealth of the richest Indonesian man increased by 39 percent. Meanwhile, [Indonesia’s] gross domestic product [GDP] grew by 6 percent, while GDP per capita grew by 4 percent,” he said in Jakarta on Wednesday at a discussion titled, “The Danger of Economic Oligarchy,” as reported by kompas.com.

He said the wealth of the 40 richest Indonesians reached $92.91 billion in 2016, $95.7 billion in 2015 and $86.78 billion in 2014.

The Megawati Institute calculated their assets by using a material power index (MPI) developed by Jeffrey Winters.

Their wealth is 584,478 times the wealth of an average Indonesian. This means that the Indonesia’s MPI is at 584,478, while Malaysia stands at 152,926, Thailand at 499.117, South Korea at 499.117 and Singapore at 46,825. (bbn)