The Fifteen Richest Indonesians

Aburizal Bakrie, pictured here in this file photo, has every reason to smile. The controversial businessman-cum-politician is fourth on Globe

Asia’s Rich List, which will be published on Monday. Globe Asia’s 150 Richest Indonesians Total Net-Worth a Cool $61.5 Billion

Indonesia’s 150 richest people did very well last year. Their total net-worth rose 22 percent to 61.5 billion, which represents 12 percent of Indonesia’s gross domestic product.

In this year’s Globe Asia’s 150 richest Indonesians issue, those who did the best were the tycoons who were able to unlock the values of their assets.

Tycoons such as Peter Sondakh of the Rajawali group increased their

net-worths by selling significant stakes in their companies. Sondakh sold

his 20 percent stake in Semen Gresik and his stake in cigarette maker

Bentoel for a combined total of nearly $700 million.

Others such as Aburizal Bakrie and Chairul Tanjung increased their

net-worths by acquiring stakes in other companies or listing parts of their

companies.

Tanjung, in one of the most aggressive corporate moves this year, acquired a

40 percent stake in French retailer Carrefour for around $350 million,

raising the funds by borrowing heavily but getting preferential interest

rates.

Djarum owner Budi Hartono increased his fortune by $700 million, largely due

to the rising stock price of Bank Central Asia and the profits from his

cigarette business.

With an economy growing at above 5% per annum, the majority of the rich

listers were able to increase their fortunes.

The average net-worth of the Globe Asia rich lister was $400 million. If the

150 richest Indonesians gave away all their wealth, each Indonesian would

receive around $256.

Budi Hartono would be able to buy 19,747 boeing aircraft with his fortune of

$4.8 billion.

If the economy continues to grow and if the markets turn positive again,

investment bankers expect more mergers and acquisitions amongst the big

tycoons in the next 12 months.

“This was achieved primarily because over the past 12 months, a perfect

confluence of factors have come together to produce conditions for wealth

creation that may be unprecedented. The Indonesian rupiah has strengthened

by nearly 10 percent while the stock market has risen by more than 60

percent and commodity prices have remained strong,” the magazine said in a

statement.

“The Indonesian stock market has been one of the best performers in the

region, boosted by strong commodity prices and foreign funds inflow. The

Indonesian Stock Exchange Composite Index has risen from 1,751 on May 15,

2009 to 2,800 this year. It reached a high of 2,971at the end of April,

which is the date Globe Asia used as the cut off point and before the stock

market fell sharply.”

The list profiles 150 of the richest Indonesians as well as their respective

heirs to their thrones. The magazine hits newsstands on Monday.

The Fifteen Richest Indonesians

1.) Budi Hartono $4.8 billion

2.) Eka Tjipta Wijaya $4 billion

3.) Anthony Salim $3.6 billion

4.) Aburizal Bakrie $3 billion

5.) Martua Sitorus $2.5 billion

6.) Putra Sampoerna $2.4 billion

7.) Sukanto Tanato $1.8 billion

8.) Dato Low Tuck Kwong $1.4 billion

9.) Peter Sondakh $1.3 billion

10.) Eddy William Katuari $1.3 billion

11.) Murdaya Poo and Siti Hartarti $1.1 billion

12.) Hashim Djojohadikusumo $950 million

13.) Susilo Wonowidjojo ($890 million)

14.) Mochtar Riady ($805 million)

15.) Prajogo Pangestu ($805 million)