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Jakarta Post

Fifteen Indonesian billionaires make Forbes 2020 rich list

Fifteen Indonesian billionaires make Forbes 2020 rich list Illustration of wealth. (Shutterstock/beeboys)
Mardika Parama
Jakarta   ●   Thu, July 30, 2020 2020-07-30 14:06 288 6657ac82168da9fa101c8a4066a81f74 1 Business Forbes-list,billionaires,Forbes-rich-Indonesians,high-net-worth-individuals Free

Fifteen Indonesians have amassed fortunes surpassing US$1 billion, with the Hartono brothers remaining the country’s wealthiest people, according to Forbes magazine’s 2020 World’s Billionaires List.

Prominent businessmen Budi and Michael Hartono are listed as Indonesia’s richest people with fortunes of $13.6 billion and $13 billion, respectively. Globally, Budi was ranked the 80th  richest, while Michael was ranked 86th.

As noted by Forbes Indonesia, the Hartono Brothers source more than 80 percent of their wealth from their investments 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 Budi’s son Victor Hartono.

Indonesia’s remaining top five billionaires are Indorama Corporation founder and owner Sri Prakash Lohia, who ranks 414th globally with $4.3 billion; Mayapada Group founder Dato Sri Tahir, who ranks 437th with $4.1 billion; and PT Barito Pacific Timber head Prajogo Pangestu, who ranks 538th globally with $3.5 billion.

Forbes 2020 rich list recorded 2,095 billionaires, eight fewer than last year as the economic impact of COVID-19 pandemic bites the businesses and assets of the world’s wealthiest people.

Of the billionaires who remain, 51% are less rich than they were last year. In raw terms, the world’s billionaires are worth $8 trillion, down $700 billion from 2019. founder and CEO Jeff Bezos was named the world’s wealthiest person for the third year in a row in Forbes’ list. He’s worth $113 billion, buoyed by a 15 percent rise in Amazon’s shares since the magazine’s 2019 list.