APSN Banner

Home Indonesia Aceh West Papua East Timor

Indonesia's richest

Reuters - February 17, 1998

Singapore - The assets of a handful of Indonesia's richest people could go a long way to bailing out the country if the $43 billion IMF rescue package falters, data published by Forbes Magazine shows.

The U.S. business magazine publishes an annual list of the world's wealthiest people. Under its Indonesian entry on the public Internet it shows individuals – including President Suharto – with net worth totalling nearly $40 billion. The publication is available on page http://www.forbes.com.tool/toolbox/billionaires/index.asp.

The entries do not make clear whether or not the assets are actually denominated in U.S. dollars or when the estimates were made.

In July, 1997 the rupiah was standing at around 2,400 to the U.S. dollar. It has declined sharply since and hit a low of 17,000 during January 1998. It now stands at around 9,500.

President Suharto is listed at the top of Indonesian entries – and sixth overall globally – with assets totalling $16 billion. The magazine lists his source of wealth as 'Investments (self-made)' and his class, or category, in the listings as "Kings, Queens and Dictators."

Summary of Forbes Indonesian listings in order of wealth


  • President Suharto: Net worth $16 billion. Source of wealth - Investments (self-made)
  • The Wonowidjojo family: Net worth $7.3 billion. Source of wealth tobacco. Status - The family runs Gudung Garam, the country's leading producer of "kretek" clove cigarettes.
  • Widjaja, Eka Tjipta: Net worth $ 5.4 billion. Source of wealth controls Sinar Mas Group. Status - The Sinar Mas Group is Indonesia's second-largest conglomerate and is the largest pulp and paper firm in the country.
    • Other firms in the group are involved in real estate, finance and agribusiness


  • Liem Sioe Liong: Net worth $4.0 billion. Source of wealth Diversified (self-made). Status - Forbes describes him as 'Mr Indonesia Inc'. Head of an Indonesian/Chinese merchant clan, he heads the Salim Group. He was Indonesia's top taxpayer in 1996 according to the Finance Ministry.
  • Hasan, Mohamed (Bob): Net worth $3.0 billion. Source of wealth Lumber, diversified (self-made). Status - Hasan is a confidant of President Suharto. He is a major player in the timber industry and has other interests in real estate, pulp, banking, trading, media and mining.
  • Sampoerna, Putera: Source of wealth cigarettes. Net worth $2.3 billion. Status - Runs Indonesia's premier cigarette maker, PT Hanjaya Mandala Sampoerna.
  • Riady, Mochtar and family: Net worth $1.8 billion. Source of wealth Real estate, financial services (self-made). Status - Mochtar Riady runs the Lippo Group. Its interests range from property to banking and data processing. Riady recently became a household name in the United States with his connection to the "Asiagate" campaign contributions scandal.