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Wealth of Indonesia's richest drops to Rp235.95 T in 2021

Tempo - September 1, 2021

Bisnis, Jakarta – To date, there are only three Indonesians that made it to the Bloomberg Billionaires Index (BBI) in 2021, which ranks the wealth of the world's 500 richest people. The three Indonesian men are Djarum brothers Robert Budi Hartono and Michael Bambang Hartono, and Prajogo Pangestu.

Robert Budi Hartono's net worth, according to the list, is currently at US$16.5 billion or around Rp235.95 trillion which was calculated assuming the exchange rate at Rp14,300 per US dollar. He ranks 124th in the Bloomberg list.

Meanwhile his brother Michael Bambang Hartono currently ranks at 136 with a total net worth of US$15.5 billion or Rp221.65 trillion. He recorded a drop in net wealth of US$758 million throughout the current year, Bisnis.com reported.

The Hartono brothers are heirs of Djarum Group throne with Bloomberg listing the group's businesses in the cigarette industry, banking, electronics, plantations, paper industry, property, and telecommunication.

The Hartono brothers also own shares in PT Bank Central Asia Tbk. (BBCA) through PT Dwimuria Investama Andalan with 54.94 percent ownership.

Indonesia's third tycoon listed in Bloomberg Billionaires Index is Prajogo Pangestu who ranks 459th with a total net worth of US$6.27 billion or Rp89.66 trillion. Despite dropping US$499 million ytd, his wealth equals Virgin Group owner Richard Branson.

Prajogo Pangestu is also a majority shareholder of Barito Pacific with 70.85 percent ownership as of July 31, 2021, which operates in the petrochemical industry through its derivatives.

Source: https://en.tempo.co/read/1501009/wealth-of-indonesias-richest-drops-to-rp235-95-t-in-202