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Jakarta Post

Hartono brothers top 'Forbes Indonesia' list of 50 wealthiest Indonesians

  • Rizki Fachriansyah
    Rizki Fachriansyah

    The Jakarta Post

Jakarta   /   Thu, December 5, 2019   /   06:32 pm
Hartono brothers top 'Forbes Indonesia' list of 50 wealthiest Indonesians Indonesian billionaire Michael Bambang Hartono speaks during an interview about the 2018 Asian Games bridge competition in Jakarta, Indonesia, August 21, 2018. (Reuters/Willy Kurniawan)

Forbes Indonesia released its list of the 50 richest Indonesians on Thursday, showing that a large portion of the country’s wealth is still controlled by the old guards of various industries and legacy conglomerates.

Prominent businessmen Robert Budi and Michael Hartono, also known as the Hartono brothers, top the list with a net worth of US$37.3 billion.

As noted by Forbes Indonesia, the Hartono Brothers sourced over 80 percent of their fortune from their investment in Bank Central Asia. The family rose to prominence after their father Oei Wie Gwan founded the Djarum cigarette firm, which is now run by Robert’s son Victor Hartono.

The rest of the top-five are the Widjaja Family, the inheritors of Sinar Mas, in second position with a net worth of $9.6 billion; PT Barito Pacific Timber head Prajogo Pangestu in third position ($7.6 billion); Susilo Wonowidjojo, the son of major cigarette maker Gudang Garam founder Surya Wonowidjojo, in fourth position ($6.6 billion); and polyester businessman Sri Prakash Lohia in fifth position ($5.6 billion).

The Hartonos previously ranked 69th and 75th respectively in Forbes’ list of the wealthiest billionaires from 72 countries and territories worldwide released last year.

Sri was also among the few Indonesian billionaires mentioned in last year’s global list, occupying the 228th position with a total fortune of $7 billion.

Other notable mentions include Mayapada Group founder Tahir in seventh position ($4.8 billion) and CT Corp chairman Chairul Tanjung in ninth position ($3.6 billion). (rfa)