the numbers and headlines

By SK Zainuddin
ow does one really measure net worth? Given that there are so many such lists floating around, the reader is entitled to ask how accurately do they reflect a persons true wealth? At GlobeAsia, our 150 Richest Indonesians list has been painstakingly put together by a team of dedicated journalists who have burrowed deep and searched widely to arrive at an accurate number. We have not only undertaken research, but interviewed people who have either a working relationship with the individuals listed or who have at one time or another done business with them. What we have done therefore is to try and get a sense of the true net worth of the people on our list. The easiest way to go about doing this list would be to calculate the shareholdings of these individuals in the companies they own. But there are times when share prices do not represent their true worth. There are times when we have to go behind the numbers and headlines to get a true sense of just how much a person is worth. Often the challenge is not ascertaining the value of their assets as these numbers are publicly available. It is to accurately determine how large their debts are as Indonesia still has a large informal debt market where people borrow from one another by issuing commercial paper without proper scrutiny. Often, these types of loans can be significant and if not taken into account, they will distort the net worth of an individual. At GlobeAsia, we have taken many of these factors into consideration in putting together this years list.

Going behind

The 2011 GlobeAsiA 150 Rich lisT was compiled by sK Zainuddin, yanto sugiarto, Keith loveard, albertus weldison nonto, ardhian novianto, Jacqueline wales, Katie lamb and sashia samira.

44

GlobeAsia June 2011

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

1. Eka Tjipta Widjaja, 88

SiNar MaS Group

Plantations, pulp and paper, mining, properties, banking

billion

$12

$4 billion

#2

16. Edwin Soeryadjaya, 62

aDaro/SaratoGa capital

$1.25
billion

Coal mining, investments

$800 million

#16

2. Budi Hartono, 70 and Michael Hartono, 71

DjaruM

$11.5
billion

Cigarettes, banking, electronics

$4.8 billion

#1 #3 #5 #4 #8 #6 #7 #9

17. Tahir, 59
MayapaDa BaNkiNG Group

$1.15
billion

Duty-free retailing, banking, property

3. Anthony Salim, 62
SaliM Group/FirSt paciFic

Food, plantations, telecommunications, industry

billion

$8 $4

18. Sri Prakash Lohia, 58

iNDoraMa textileS

$3.6 billion

$1.15
billion

Textiles, petrochemicals

$412 million

#34 #38 #11 #15

4. Martua Sitorus, 51
wilMar iNterNatioNal holDiNG

Plantations

billion

19. Teddy Thohir, 76 and Garibaldi Thohir, 45

aDaro eNerGy, triNuGraha

$2.5 billion

$1.1
billion

Coal mining, investment

$400 million

5. Aburizal Bakrie, 64
Bakrie Group

$3.8
billion

20. Murdaya Poo, 70 and Siti Hartati Murdaya, 65

ceNtral cipta MurDaya

Coal Mining, plantations, infrastructure, property

$2.6 billion

$1.1
billion

Property, power plant, trading

$1.1billion

6. Dato Low Tuck Kwong, 62

BayaN reSourceS

$3.7
billion

21. Prajogo Pangestu, 60

Barito paciFic

Coal mining

$1.4 billion

$1.05
billion

Petrochemicals, energy

$805 million

7. Putra Sampoerna, 61
SaMpoerNa StrateGic

$2.5
billion

22. Agus L Sudwikatmono, 40

iNDika eNerGy

Plantations, online gambling

$2.4 billion

$980
million

Coal Mining, investments.

8. Sukanto Tanoto, 61
royal GolDeN eaGle

Pulp and paper, plantations, energy

billion

$2

23. Hashim Djojohadikusumo, 57

tirtaMaS Group

$1.8 billion

$910
million

Oil, petrochemicals, pulp and paper, plantations

$950 million

#12 #17 #26 #19 #27 #25 #31 #18

9. Peter Sondakh, 59
rajawali Group

$1.9
billion

24. Chairul Tanjung, 49

ct corporatioN, BaNk MeGa

Investments, mining

$1.3 billion

$900
million

Banking, TV media, fashion retailing, property

$750 million

10. Susilo Wonowidjojo, 55

GuDaNG GaraM

$1.9
billion

Cigarettes

$890 million

#13

25. Mumin Ali Gunawan, 72

paNiN Group

$880
million

Banking, Insurance, property

$562 million

11. Samin Tan, 49

BorNeo luMBuNG eNerGy aND MetalS

$1.8
billion

26. Arifin Panigoro, 65 and Hilmi Panigoro, 55

MeDco iNterNatioNal

$860
million

Mining, investment

Energy

$680 million

12. Theodore P Rahmat, 67

triputra Group, aDaro

$1.7
billion

Coal Mining, plantations, investments

$620 million

#22 #46 #10 #14

27. Ciputra, 80
ciputra Group

$790
million

Property

$560 million

13. Kiki Barki, 72

taNito haruM Group

$1.6
billion

28. Boenjamin Setiawan, 78

kalBe FarMa

Coal Mining

$345 million

$770
million

Pharmaceuticals

$571 million

14. William Katuari, 60

wiNGS Group

$1.45
billion

29. Sjamsul Nursalim, 69

Gajah tuNGGal

Consumer goods, chemicals

$1.3 billion

$760
million

Tires, retail, property

$430 million

15. Mochtar Riady, 82

lippo Group

Banking and finance, diversified property, fashion and food retailing, healthcare, multi-media

$1.3
billion

30. Trihatma K Haliman, 59

aGuNG poDoMoro Group

$805 million

$750
million

Property

$685 million

June 2011 GlobeAsia

45

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

31. Aksa Makhmud, 66

BoSowa corporatioN

$750
million

Cement, infrastructure, trading, energy

$619 million

#23 #20 #47 #64 #28 #21 #30 #57

46. Tommy Winata, 53

artha Graha Group

$570
million

Banking, hotels, agribusiness

32. Harry Tanoesoedibjo, 46

Bhakti iNveStaMa/GloBal MeDiacoM

$710
million

47. George Tahija, 53 and Sjakon Tahija, 58

auStiNDo NuSa NuSaNtara jaya

Multimedia, TV, satellite TV, securities

$640 million

$560
million

Natural resources

$409 million

#35 #39 #33 #43 #52 #83 #32 #37 #42 #56 #48

33. Suryadi Darmadi, 61

Duta palMa NuSaNtara Group

$680
million

48. Bachtiar Karim, 54

MuSiM MaS

Palm oil plantations

$336 million

$555
million

Plantations

$383 million

34. Wiwoho B Tjokronegoro, 71

iNDika eNerGy

$680
million

49. Hartadi Angkosubroto, 57 and Husodo Angkosubroto, 55

GuNuNG Sewu Group

Coal mining, supplies

$239 million

$550
million

Pineapple plantations, property, life insurance

$412 million

35. Rusdi Kirana, 48

lioN Group

$660
million

50. Eddy Sariaatmadja, 59

Sctv

Commercial airline

$520 million

$550
million

TV Media, ICT, Minerals, Investments

$360 million

36. Sugianto Kesuma, 60

aGuNG SeDayu/BaNk artha Graha

$650
million

51. Alexander Tedja, 66

pakuwoN Group

Property, banking

$625 million

$520
million

Shopping malls, hotels, property

$302 million

37. Martias, 73 and Tjiliandra Fangiono, 35

FirSt reSeourceS

$650
million

52. Yusuf Merukh, 75

Merukh eNtrepriSe

Plantation

$460 million

$515
million

Mining Concessions, property

$150 million

38. Sandiaga Uno, 42

SaratoGa, recapital

$645
million

53. Eka Tjandranegara, 64

Mulia Group

Private equity, investment

$269 million

$510
million

Hotel, office buildings, building materials

$416 million

39. Surjadinata Sumantri, 61

reNaiSSaNce capital/BorNeo luMBuNG eNerGy

$625
million

54. Jan Darmadi, 70

jaN DarMaDi Group

$505
million

Private equity, Investments.

Hotels, property

$403 million

40. Hariyanto Adikoesomo, 66

akr corporiNDo

$620
million

Oil trading, distributions, chemicals

$296million

#53 #61 #36 #44 #29 #24

55. Hutomo Mandala Putra, 49

huMpuSS

$500
million

Shipping, property, Investments

$365 million

41. Jogi Hendra Atmaja, 65

Mayora Group

$610
million

56. Sutjipto Nagaria, 71

SuMarecoN

Food, biscuits

$257 million

$485
million

Property

$278 million

42. Jakob Oetama, 80

koMpaS GraMeDia Group

$605
million

57. Ibrahim Risjad, 77

riSjaDSoN Group

Print Media, TV, hotels, bookstores

$405 million

$469
million

Agribusiness, energy, investments

$326 million

43. Gunawan Jusuf, 57

Sugar Group Sugar plantations, refineries, distributions, bioenergy

$600
million

58. John Chuang, 62

petra FooDS ltD.

$357 million

$445
million

Agribusiness, energy, investments

$112 million

#106 #41 #40

44. Husain Djojonegoro, 62

aBc/oraNG tua Group

$580
million

59. Adyansyah Masrin, 91

lautaN luaS Group

Consumer goods

$490 million

$440
million

Chemicals, paper, trading

$370 million

45. Osbert Lyman, 61

lyMaN/Satya Djaja raya Group

$575
million

60. Kartini Muljadi, 81 and Handojo Slamet Muljadi, 47

teMpo Group

Property, timber

$580 million

$432
million

Pharmaceuticals, cosmetics

$372 million

46

GlobeAsia June 2011

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

61. Handojo Santoso, 47

oMetraco/japFa coMFeeD

$430
million

Animal feed

$267 million

#58 #51 #59 #50 #68 #45 #79 #49 #55

76. Kris Taenar Wiluan, 62

citra MaS Group

$289
million

Energy, manufacturing

$210 million

#73

62. Tan Siong Kie, 95

roDaMaS Group

$420
million

77. Benjamin Jiaravanon, 39

charoeN pokphaN iNDoNeSia

Manufacturing, flat glass

$305 million

$260
million

Animal feed

63. The Nin King, 79

arGo paNteS

$410
million

78. Hendro Setiawan, 58

pikko Group

Textiles, steel trading, property

$262 million

$255
million

Property, investments

$152 million

#84 #97 #69 #70 #72 #74 #81 #78 #66 #75 #63

64. Paulus Tumewu, 59

raMayaNa Group

$400
million

79. Jahja Santoso, 66

SaNBe FarMa

Retailing, property

$322 million

$253
million

Pharmaceuticals, trading, hotel

$129 million

65. Sudhamek, 55
GaruDa FooD

$385
million

80. AHK Hamami, 75

trakiNDo utaMa

Food

$218 million

$250
million

Heavy equipment, energy,

$215 million

66. Tan Kian, 53

Dua Mutiara

$380
million

81. Honggo Wendratno, 63

aSrari prataMa

Textiles, hotels, property

$350 million

$245
million

Energy, petrochemical

$215 million

67. Sutanto Djuhar, 82

FirSt paciFic

$375
million

82. Rudy Suliawan, 60

karaNG MaS Sejahtera

Property, telecommunications, investments

$182 million

$242
million

Hotel, property

$211 million

68. Subianto Tjandra, 67

ateja Group

$350
million

83. Muljadi Budiman, 55

hoNDa proSpect Motor

Textiles, property

$325 million

$242
million

Automotive distribution

$205 million

69. Sofjan Wanandi, 67

GeMala SaNtiNi

$319
million

84. Djoko Susanto, 61

alFa retailiNDo

Batteries, automotive parts, trading

$278 million

$240
million

Convenience stores, distribution

$173 million

70. Henry Pribadi, 64

NapaN Group

$310
million

Mining concessions, manufacturing, investments

$92 million

#118 #65 #71 #67 #93 #62

85. Oesman Sapta Odang, 61

oSo iNterNatioNal Group

$235
million

Mining, agribusiness, hotels, property, investments

$183 million

71. Ginawan Tjondro, 57

citra NuSa iNSaN ceMerlaNG

$305
million

86. Didi Dawis, 65

liNG BrotherS

Property

$237 million

$233
million

Trading, property

$230 million

72. Dahlan Iskan,60

jawa poS Group

$305
million

87. Djoenaedi Joesoef, 78

koNiMex

Newspapers, TV, energy

$214 million

$231
million

Pharmaceuticals

$201 million

73. Soegiharto Sosrodjoyo, 77

SoSro Group

$302
million

88. Johan Lensa, 61

iNtilaND DevelopMeNt

Beverages, food, property

$222 million

$230
million

Property

$240 million

74. Benny Subianto, 69

Bhakti eNerGi perSaDa

$300
million

89. Putra Masagung, 51

GuNuNG aGuNG

75. Yos Sutomo, 77

SuMBer MaS

$292
million

90. Tatang Hermawan, 60

pt BaNk prahyaNGaN

Timber

$256 million

$225
million

Textiles, property, hotels

$259 million

#60

48

GlobeAsia June 2011

moh. deFriZal

Mining, investments

$131 million

$230
million

Hotel, property, construction, bookstores

$89 million

#129

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

91. Luntungan Honoris, 62

MoDerN Group

$220
million

Land-banking, property, trading, film distribution

$78 million

#143 #131 #101 #76

106. Sigit Harjojudanto, 60

huMpuSS

$150
million

Investment, transportation

$142 million

#85 #86 #88 #87 #89 #91 #94 #96 #98 #99

92. Hendro Gondokusumo, 61

iNtilaND

$215
million

107. Jusuf Kalla, 69

kalla Group

Property

$87 million

$150
million

Trading, heavy industry, shipping

$140 million

93. Suryadharma Paloh, 60

MeDia iNDoNeSia/Metro

$206
million

108. Sendi Bingei, 82

SuMatra toBacco traDiNG

TV, Newspapers

$120 million

$142
million

Tobacco, food

$138 million

94. Chandra Lie, 47

Sriwijaya air

$200
million

109. Anna B Mathovani, 57

kiraNa taNker

Airlines

$194 million

$140
million

Shipping

$138 million

95. Rosan Roeslani, 42

recapital

$200
million

Private equity, investments

$85 million

#134 #77 #90 #80

110. Airlangga Hartarto, 49

Fajar wiSeSa

$140
million

Engineering, chemicals, manufacturing

$136 million

96. Siswono Judo Husodo, 68

BaNGuN cipta SaraNa

$197
million

111. Tan Tjai Kie, 57

GuNuNG GaruDa Steel

Infrastructure, property businesses

$187 million

$134
million

Manufacturing, mining

$132 million

97. Alim Markus, 60

MaSpioN Group

$195
million

112. Bambang Trihatmodjo, 58

aSrilaND

Housewares

$136 million

$132
million

Property

$131 million

98. Hadi Surya, 75

BerliaN laju taNGker

$185
million

113. Mardjoeki Atmadiredja, 63

Surya toto iNDoNeSia

Shipping

$181 million

$131
million

Sanitary ware

$130 million

99. Benny Suherman, 64

StuDio 21 Group

$185
million

Cinema chain

$116 million

#104 #95

114. Sri Sultan Hamengkubuwono X, 65

SultaN oF yoGyakarta

$130
million

Property

$126 million

100. Sukamdani Gitosardjono, 83

SahiD Group

$182
million

115. A Tong, 65
roDa vivatex

Hotels, property

$130 million

$125
million

Textiles

$124 million

101. Dick Gelael, 77

FaSt FooD iNDoNeSia

$178
million

Kentucky Fried Chicken franchise, supermarket

$89 million

#128 #92 #82

116. Budi Purnomo Hadisurjo, 74

optic Melawai

$124
million

Optical Stores, restaurants

$120 million

#100

102. Pontjo Sutowo, 61

NuGra SeNtaNa Group

$176
million

117. Sugianto, 65
Metro GarMiN Group

Hotels, property

$132 million

$116
million

Textiles

$118 million

#102 #105

103. Henry Onggo, 78

ratu SayaNG Group

$175
million

118. Johanes B Kotjo, 65

apac Group

Property

$170 million

$116
million

Textiles and diversified business

$114 million

104. Benjamin Soeryadjaya, 80

Surya iNterNuSa

$165
million

Hotels, property

$92 million

#119 #144

119. Rudy Unjoto, 62

Daliatex kuSuMa

$114
million

Textiles

$116 million

#103 #107

105. Kaharuddin Ongko, 74

oNGko Group

$160
million

120. Batihalim, Djuhadi and Pamudji

pt NojoroNo toBacco

Property, ceramics

$74 million

$113
million

Cigarettes

$110 million

June 2011 GlobeAsia

49

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

NAME

NETWORTH

GlObEAsiA 2010 RicH lisT Networth

121. Iskandar Widyadi, 74

BaNk jaSa jakarta

$111
million

Banking

$109 million

#108 #109
$106.5 million

136. Raam Punjabi, 68

MultiviSioN pluS

Entertainment

million

$92 $91

$91 million

#123 #135 #125 #130 #133 #117 #124 #137 #138 #139 #140 #136 #141 #145 #146

122. Joe Kamdani, 75

DataScript

$108
million

137. Purnomo Prawiro, 64

Blue BirD

Office equipment, digital technology

Transportation

million

$85 million

123. Ilham Habibie, 48 and Thareq Habibie, 46

ilthaBi rekataMa

$108
million

Diversified business

$106 million

#110 #111 #112

$101.5 million

138. Marimutu Maniwanen, 56

BuSaNa apparel Group

$90.5
million

Textiles

$90 million

124. Soedjono, 62
wira Sakti aDiMulya

$103
million

139. A Siang Rusli, 49

kurNia tetap Mulia

Property

$104 million

Entertainment, property

million

$90 $90 $90 $88 $87 $86 $86 $85 $83 $83 $76 $70

$88 million

125. Stanley S Atmadja, 55

aSco autoMotive

$102
million

140. Boedi Mranata, 59

aDipurNa MraNata jaya

Autofinance, mining, agriculture, property

Birds nest, food and beverage

million

$85 million

126. Sugiono W Sugialam, 48

trikoMSel

$102
million

Electronics

$101 million

#113 #114
$100.5 million

141. Mintardjo Halim, 56

SaNDratex

Textiles

million

$92 million

127. Karmaka Surjaudaja, 77

ocBc NiSp

$100.8
million

142. Ishak Charlie, 57

kurNia tetap Mulia

Banking

Hotels, palm oil

million

$90 million

128. Boyke Gozali, 61

Mitra aDi perkaSa

$100
million

Property, hotels, trading

$86 million

#132 #115 #126 #120 #127 #116 #121 #122

143. GS Margono, 71
Gapura priMa

Property

million

$83 million

129. Siti Hardijanti Rukmana, 62

citra laMtoro GuNG perSaDa

Toll roads, entertainment

million

$97 $95 $94 $93

144. Usman Admajaya, 66

iNveStMeNt coMpaNy

$95 million

Investment

million

$84 million

130. Fajar Suhendra, 59

SuMatra Growth Group

145. Widarto, 66
SuNGai BuDi Group

Steel

million

$90 million

Agribusiness

million

$82 million

131. Rachmat Gobel, 49

GoBel iNterNatioNal

146. G Lukman Pudjiadi, 54

jayakarta Group

Electronics

million

$92 million

Property, hotels

million

$82 million

132. Bambang Setijo, 69

paN BrotherS

147. Atang Latief, 85

Group ataNG latieF

Textiles

million

$90 million

Investment

million

$84.6 million

133. MS Hidayat, 58
MSh Group

$92.5
million

148. Supramu Santosa, 63

SupreMe eNerGy

Property

$92.5 million

Energy, geothermal

million

$80 million

134. Setiawan Djody, 62

SetDco Group

$92.5
million

149. Rahmat M Suryahusada, 67

BaNk BuMi artha

Shipping, oil and gas

$92 million

Banking

million

$71 million

135. Jacobus Busono, 71

pura Group

Printing

million

$92

150. Awong Hidjaja, 60

paNaSia Group

$91 million

Textiles, banking

million

$69 million

50

GlobeAsia June 2011