Indonesia’s 40 Richest
#1 Sukanto Tanoto & familyT
Net Worth $2.8 billion
Began supplying equipment and materials to state oil firm. In 1973 moved into forest products. In 1995 took public pulp and paper business, Asia Pacific Resources International, on New York Stock Exchange, only to delist in 2001. Today his privately held RGM International thrives in paper, palm oil and energy.
#2 Putera Sampoerna & family
Net Worth $2.1 billion
Was Indonesia’s third-largest seller of kretek cigarettes until Philip Morris bought controlling stake in HM Sampoerna Tbk in 2005. Now University of Houston grad moving into gaming: bought London casino Les Ambassadeurs in March 2006. Donates to schools.
#3 Eka Tjipta Widjaja & family
Net Worth $2.0 billion
Came from China to Indonesia as a child. Sold biscuits at age 17, but pulp, paper and palm oil became source of fortune. Created Asia Pulp & Paper, which defaulted on massive debt in 2001. His children and relatives now run privately held Sinar Mas and its listed Asia Food & Properties. Grandson Eric Oei invests in construction back on mainland China (see story, p. 58).
#4 Rachman Halim & family
Net Worth $1.8 billion
Halim’s family, the Wonowidjojos, own and run publicly traded Gudang Garam, Indonesia’s No. 1 maker of kretek cigarettes. Got rich off majority stake in $2 billion (market cap) company. Still sells first type of cigarette Gudang Garam made: corn-husked kretek.
#5 R. Budi Hartono & family
Net Worth $1.4 billion
Owns privately held kretekmaker Djarum. Started in 1951 in Kudus, Central Java as small hand-rolling operation. Ventured abroad; now boasts 70% of U.S. kretek market. First to sell light or flavored version. Has Bank Central Asia stake.
#6 Aburizal Bakrie & family
Net Worth $1.2 billion
In 1980s took helm of Bakrie Group, which his late father founded in 1942 as trading company. Today in infrastructure, telecom, coal mining and media. Hit hard by Asian financial crisis but recovered. Presidential candidate in 2004; now country’s coordinating minister for people’s welfare.
#7 Eddy William Katuari & family
Net Worth $1.0 billion
Son of Johannes Ferdinand Katuari, who cofounded Wings group as laundry detergent maker in 1948. Wings is now huge privately held company that sells range of consumer goods like toothpaste, shampoo and skin care. Eddy took Wings’ helm when father died in 2004. Also invests in real estate and chemical plants.
#8 Trihatma Haliman
Net Worth $900 million
Took over privately held Agung Podomoro in 1986 when it was fledgling real estate developer and built it into one of country’s largest. Has built thousands of apartments. Now involved in 15 projects in Jakarta and has moved beyond residential into retail and commercial. May try to go public.
#9 Arifin Panigoro
Net Worth $815 million
Founded oil company Medco Energi Internasional in 1980. Took it public in 1994 and used proceeds to buy small drilling company in South Sumatra. Big break: turned out to have enormous reserves. Brief political career. Brother Hilmi runs Medco Energi and holds Arifin’s shares in trust.
#10 Liem Sioe Liong & family
Net Worth $800 million
Salim clan head also goes by Soedono Salim. With sons Anthoni and Andree built Salim Group into vast empire in food, shipping and cement. Public stakes in Bank Central Asia and First Pacific, where Anthoni is chairman. Known as “Uncle Liem” at offices.