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# **Going behind**

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 person’s 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 year’s list.

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

1. Eka Tjipta Widjaja, 88

Sinar Mas Group

Plantations, pulp and paper, mining,

properties, banking

2. Budi Hartono, 70

and Michael Hartono, 71

Djarum

Cigarettes, banking, electronics

3. Anthony Salim, 62

Salim Group/First Pacific

Food, plantations, telecommunications, industry

4. Martua Sitorus, 51

Wilmar International Holding

Plantations

5. Aburizal Bakrie, 64

Bakrie Group

Coal Mining, plantations, infrastructure, property

6. Dato Low Tuck Kwong, 62

Bayan Resources

Coal mining

7. Putra Sampoerna, 61

Sampoerna Strategic

Plantations, online gambling

8. Sukanto Tanoto, 61

Royal Golden Eagle

Pulp and paper, plantations, energy

9. Peter Sondakh, 59

Rajawali Group

Investments, mining

10. Susilo Wonowidjojo, 55

Gudang Garam

Cigarettes

11. Samin Tan, 49

Borneo Lumbung Energy and metals

Mining, investment

12. Theodore P Rahmat, 67

Triputra Group, Adaro

Coal Mining, plantations, investments

13. Kiki Barki, 72

Tanito Harum Group

Coal Mining

14. William Katuari, 60

Wings Group

Consumer goods, chemicals

15. Mochtar Riady, 82

Lippo Group

Banking and finance, diversified property, fashion

and food retailing, healthcare, multi-media

NETWORTH

$12

GlobeAsia

2010

Rich list

Networth

#2

billion

$4 billion

$11.5

#1

billion

$4.8 billion

$8

#3

billion

$3.6 billion

$4

#5

billion

$2.5 billion

$3.8

#4

billion

$2.6 billion

$3.7

#8

billion

$2.5

billion

$2

billion

$1.9

billion

$1.9

billion

$1.4 billion

#6

$2.4 billion

#7

$1.8 billion

#9

$1.3 billion

#13

$890 million

$1.8

billion

$1.7

NETWORTH

16. Edwin Soeryadjaya, 62

$1.25

Adaro/Saratoga Capital

Coal mining, investments

17. Tahir, 59

Mayapada Banking Group

Duty-free retailing, banking, property

18. Sri Prakash Lohia, 58

Indorama Textiles

$620 million

$1.6

#46

billion

$345 million

$1.45

#10

billion

$1.3 billion

$1.3

#14

$805 million

billion

$1.15

19. Teddy Thohir, 76

and Garibaldi Thohir, 45

$1.1

Adaro Energy, Trinugraha

Coal mining, investment

20. Murdaya Poo, 70

and Siti Hartati Murdaya, 65

Central Cipta Murdaya

Property, power plant, trading

21. Prajogo Pangestu, 60

Barito Pacific

Petrochemicals, energy

22. Agus L Sudwikatmono, 40

Indika Energy

Coal Mining, investments.

23. Hashim Djojohadikusumo, 57

Tirtamas Group

Oil, petrochemicals, pulp and paper, plantations

24. Chairul Tanjung, 49

CT Corporation, Bank Mega

Banking, TV media, fashion retailing, property

25. Mu’min Ali Gunawan, 72

Panin Group

Kalbe Farma

Pharmaceuticals

29. Sjamsul Nursalim, 69

Gajah Tunggal

Tires, retail, property

30. Trihatma K Haliman, 59

Agung Podomoro Group

Property

#15

$805 million

$980

million

$910

#12

million

$950 million

$900

$750 million

million

$880

$860

28. Boenjamin Setiawan, 78

$1.1billion

$1.05

26. Arifin Panigoro, 65

and Hilmi Panigoro, 55

Property

#11

billion

million

Ciputra Group

$400 million

$1.1

billion

#34

$412 million

#38

billion

Banking, Insurance, property

27. Ciputra, 80

#16

$800 million

$1.15

billion

Energy

#22

billion

Textiles, petrochemicals

Medco International

billion

billion

NAME

GlobeAsia

2010

Rich list

Networth

million

$790

million

$770

million

$760

million

$750

million

#17

#26

$562 million

#19

$680 million

#27

$560 million

#25

$571 million

#31

$430 million

#18

$685 million

June 2011 GlobeAsia 45

NAME

NETWORTH

GlobeAsia

2010

Rich list

Networth

31. Aksa Makhmud, 66

$750

#23

Bosowa Corporation

Cement, infrastructure, trading, energy

32. Harry Tanoesoedibjo, 46

Bhakti Investama/Global Mediacom

Multimedia, TV, satellite TV, securities

33. Suryadi Darmadi, 61

Duta Palma Nusantara Group

Palm oil plantations

34. Wiwoho B Tjokronegoro, 71

Indika Energy

Coal mining, supplies

35. Rusdi Kirana, 48

Lion Group

Commercial airline

36. Sugianto Kesuma, 60

Agung Sedayu/Bank Artha Graha

million

$619 million

$710

#20

million

$640 million

$680

#47

million

$336 million

$680

#64

million

$239 million

$660

#28

million

$520 million

$650

#21

Property, banking

million

37. Martias, 73

and Tjiliandra Fangiono, 35

$650

First Reseources

Plantation

38. Sandiaga Uno, 42

Saratoga, ReCapital

Private equity, investment

39. Surjadinata Sumantri, 61

Renaissance Capital/Borneo Lumbung Energy

million

$645

million

Private equity, Investments.

40. Hariyanto Adikoesomo, 66

$620

Oil trading, distributions, chemicals

41. Jogi Hendra Atmaja, 65

Mayora Group

Food, biscuits

42. Jakob Oetama, 80

Kompas Gramedia Group

Print Media, TV, hotels, bookstores

43. Gunawan Jusuf, 57

Sugar Group

Sugar plantations, refineries, distributions, bioenergy

44. Husain Djojonegoro, 62

ABC/Orang Tua Group

Consumer goods

45. Osbert Lyman, 61

Lyman/Satya Djaja Raya Group

Property, timber

46 GlobeAsia June 2011

#30

$460 million

#57

$269 million

million

$610

46. Tommy Winata, 53

$570

Artha Graha Group

Banking, hotels, agribusiness

million

47. George Tahija, 53

and Sjakon Tahija, 58

$560

Austindo Nusa Nusantara Jaya

Natural resources

48. Bachtiar Karim, 54

Musim Mas

#53

#61

$257 million

$605

#36

million

$405 million

$600

#44

million

$357 million

$580

#29

million

$490 million

$575

#24

$580 million

$555

million

49. Hartadi Angkosubroto, 57

and Husodo Angkosubroto, 55

$550

Gunung Sewu Group

Pineapple plantations, property, life insurance

50. Eddy Sariaatmadja, 59

SCTV

TV Media, ICT, Minerals, Investments

51. Alexander Tedja, 66

Pakuwon Group

Shopping malls, hotels, property

52. Yusuf Merukh, 75

Merukh Entreprise

Mining Concessions, property

53. Eka Tjandranegara, 64

Mulia Group

Hotel, office buildings, building materials

Hotels, property

$296million

million

Plantations

Jan Darmadi Group

million

million

NETWORTH

54. Jan Darmadi, 70

$625

million

AKR Corporindo

$625 million

NAME

55. Hutomo Mandala Putra, 49

Humpuss

Shipping, property, Investments

56. Sutjipto Nagaria, 71

Sumarecon

Property

57. Ibrahim Risjad, 77

Risjadson Group

Agribusiness, energy, investments

58. John Chuang, 62

Petra Foods Ltd.

Agribusiness, energy, investments

59. Adyansyah Masrin, 91

Lautan Luas Group

million

$550

million

$520

million

$515

million

$510

million

$505

million

$500

million

$485

million

$469

million

$445

million

$440

Chemicals, paper, trading

million

60. Kartini Muljadi, 81

and Handojo Slamet Muljadi, 47

$432

Tempo Group

Pharmaceuticals, cosmetics

million

GlobeAsia

2010

Rich list

Networth

#35

$409 million

#39

$383 million

#33

$412 million

#43

$360 million

#52

$302 million

#83

$150 million

#32

$416 million

#37

$403 million

#42

$365 million

#56

$278 million

#48

$326 million

#106

$112 million

#41

$370 million

#40

$372 million

NETWORTH

61. Handojo Santoso, 47

$430

#58

Ometraco/Japfa Comfeed

Animal feed

62. Tan Siong Kie, 95

Rodamas Group

Manufacturing, flat glass

63. The Nin King, 79

Argo Pantes

Textiles, steel trading, property

64. Paulus Tumewu, 59

Ramayana Group

Retailing, property

65. Sudhamek, 55

Garuda Food

Food

66. Tan Kian, 53

Dua Mutiara

Textiles, hotels, property

67. Sutanto Djuhar, 82

First Pacific

Property, telecommunications, investments

68. Subianto Tjandra, 67

Ateja Group

Textiles, property

69. Sofjan Wanandi, 67

Gemala Santini

Batteries, automotive parts, trading

70. Henry Pribadi, 64

Napan Group

Mining concessions, manufacturing, investments

71. Ginawan Tjondro, 57

Citra Nusa Insan Cemerlang

Property

72. Dahlan Iskan,60

Jawa Pos Group

Newspapers, TV, energy

73. Soegiharto Sosrodjoyo, 77

Sosro Group

Beverages, food, property

74. Benny Subianto, 69

Bhakti Energi Persada

Mining, investments

75. Yos Sutomo, 77

Sumber Mas

Timber

48 GlobeAsia June 2011

million

$267 million

$420

#51

million

$305 million

$410

#59

million

$262 million

$400

#50

million

$322 million

$385

#68

million

$218 million

$380

#45

million

$375

million

$350

million

$319

million

$310

million

$305

$350 million

#79

$182 million

#49

$325 million

#55

$278 million

#118

$92 million

#65

million

$237 million

$305

#71

million

$214 million

$302

#67

million

$222 million

$300

#93

million

$131 million

$292

#62

million

$256 million

NAME

NETWORTH

76. Kris Taenar Wiluan, 62

$289

Citra Mas Group

Energy, manufacturing

77. Benjamin Jiaravanon, 39

Charoen Pokphan Indonesia

Animal feed

78. Hendro Setiawan, 58

Pikko Group

Property, investments

79. Jahja Santoso, 66

Sanbe Farma

Pharmaceuticals, trading, hotel

80. AHK Hamami, 75

Trakindo Utama

Heavy equipment, energy,

81. Honggo Wendratno, 63

Asrari Pratama

Energy, petrochemical

82. Rudy Suliawan, 60

Karang Mas Sejahtera

Hotel, property

83. Muljadi Budiman, 55

Honda Prospect Motor

Automotive distribution

84. Djoko Susanto, 61

Alfa Retailindo

Convenience stores, distribution

85. Oesman Sapta Odang, 61

Oso International Group

Mining, agribusiness, hotels, property, investments

86. Didi Dawis, 65

Ling Brothers

Trading, property

87. Djoenaedi Joesoef, 78

Konimex

Pharmaceuticals

88. Johan Lensa, 61

Intiland Development

Property

89. Putra Masagung, 51

Gunung Agung

Hotel, property, construction, bookstores

90. Tatang Hermawan, 60

PT Bank Prahyangan

Textiles, property, hotels

million

GlobeAsia

2010

Rich list

Networth

#73

$210 million

$260

million

$255

million

$253

million

$250

million

$245

million

$242

million

$242

million

$240

million

$235

million

$233

million

$231

million

$230

million

$230

million

$225

million

#84

$152 million

#97

$129 million

#69

$215 million

#70

$215 million

#72

$211 million

#74

$205 million

#81

$173 million

#78

$183 million

#66

$230 million

#75

$201 million

#63

$240 million

#129

$89 million

#60

$259 million

MOH. DEFRIZAL

NAME

GlobeAsia

2010

Rich list

Networth

NAME

NETWORTH

GlobeAsia

2010

Rich list

Networth

91. Luntungan Honoris, 62

$220

#143

Modern Group

Land-banking, property, trading, film distribution

92. Hendro Gondokusumo, 61

Intiland

Property

93. Suryadharma Paloh, 60

Media Indonesia/Metro

TV, Newspapers

94. Chandra Lie, 47

Sriwijaya Air

Airlines

95. Rosan Roeslani, 42

ReCapital

Private equity, investments

96. Siswono Judo Husodo, 68

Bangun Cipta Sarana

Infrastructure, property businesses

97. Alim Markus, 60

Maspion Group

Housewares

98. Hadi Surya, 75

Berlian Laju Tangker

Shipping

99. Benny Suherman, 64

Studio 21 Group

Cinema chain

100. Sukamdani Gitosardjono, 83

Sahid Group

Hotels, property

101. Dick Gelael, 77

Fast Food Indonesia

Kentucky Fried Chicken franchise, supermarket

102. Pontjo Sutowo, 61

Nugra Sentana Group

Hotels, property

103. Henry Onggo, 78

Ratu Sayang Group

Property

104. Benjamin Soeryadjaya, 80

Surya Internusa

Hotels, property

105. Kaharuddin Ongko, 74

Ongko Group

Property, ceramics

million

$78 million

$215

#131

million

$87 million

$206

#101

million

$120 million

$200

#76

million

$194 million

$200

#134

million

$85 million

$197

#77

million

$195

million

$185

$187 million

#90

$136 million

#80

million

$181 million

$185

#104

million

$182

million

$178

$116 million

#95

$130 million

#128

million

$89 million

$176

#92

million

$132 million

$175

#82

million

$170 million

$165

#119

million

$92 million

$160

#144

million

$74 million

NAME

NETWORTH

106. Sigit Harjojudanto, 60

$150

Humpuss

Investment, transportation

107. Jusuf Kalla, 69

Kalla Group

Trading, heavy industry, shipping

108. Sendi Bingei, 82

Sumatra Tobacco Trading

Tobacco, food

109. Anna B Mathovani, 57

Kirana Tanker

Shipping

110. Airlangga Hartarto, 49

Fajar Wisesa

Engineering, chemicals, manufacturing

111. Tan Tjai Kie, 57

Gunung Garuda Steel

Manufacturing, mining

112. Bambang Trihatmodjo, 58

Asriland

Property

113. Mardjoeki Atmadiredja, 63

Surya Toto Indonesia

million

$150

million

$142

million

$140

million

$140

million

$134

million

$132

million

$131

Sanitary ware

million

114. Sri Sultan

Hamengkubuwono X, 65

$130

Sultan Of Yogyakarta

Property

115. A Tong, 65

Roda Vivatex

Textiles

116. Budi Purnomo Hadisurjo, 74

Optic Melawai

Optical Stores, restaurants

117. Sugianto, 65

Metro Garmin Group

Textiles

118. Johanes B Kotjo, 65

Apac Group

Textiles and diversified business

119. Rudy Unjoto, 62

Daliatex Kusuma

million

$125

million

$124

million

$116

million

$116

million

$114

Textiles

million

120. Batihalim, Djuhadi

and Pamudji

$113

PT Nojorono Tobacco

Cigarettes

million

GlobeAsia

2010

Rich list

Networth

#85

$142 million

#86

$140 million

#88

$138 million

#87

$138 million

#89

$136 million

#91

$132 million

#94

$131 million

#96

$130 million

#98

$126 million

#99

$124 million

#100

$120 million

#102

$118 million

#105

$114 million

#103

$116 million

#107

$110 million

June 2011 GlobeAsia 49

NAME

NETWORTH

GlobeAsia

2010

Rich list

Networth

121. Iskandar Widyadi, 74

$111

#108

Bank Jasa Jakarta

Banking

122. Joe Kamdani, 75

Datascript

million

$108

Office equipment, digital technology

million

123. Ilham Habibie, 48

and Thareq Habibie, 46

$108

Ilthabi Rekatama

Diversified business

124. Soedjono, 62

Wira Sakti Adimulya

Property

125. Stanley S Atmadja, 55

Asco Automotive

Autofinance, mining, agriculture, property

126. Sugiono W Sugialam, 48

Trikomsel

Electronics

127. Karmaka Surjaudaja, 77

OCBC NISP

Banking

128. Boyke Gozali, 61

Mitra Adi Perkasa

Property, hotels, trading

129. Siti Hardijanti Rukmana, 62

Citra Lamtoro Gung Persada

Toll roads, entertainment

130. Fajar Suhendra, 59

Sumatra Growth Group

Steel

131. Rachmat Gobel, 49

Gobel International

Electronics

132. Bambang Setijo, 69

Pan Brothers

Textiles

133. MS Hidayat, 58

MSH Group

Property

134. Setiawan Djody, 62

Setdco Group

Shipping, oil and gas

135. Jacobus Busono, 71

Pura Group

Printing

50 GlobeAsia June 2011

million

$103

million

$102

million

$102

million

$100.8

$109 million

#109

$106.5

million

#110

$106 million

#111

$104 million

#112

$101.5

million

#113

$101 million

#114

million

$100.5

million

$100

#132

million

$86 million

$97

#115

million

$95 million

$95

#126

million

$90 million

$94

#120

million

$92 million

$93

#127

million

$90 million

$92.5

#116

million

$92.5

million

$92

million

$92.5 million

#121

$92 million

#122

$91 million

NAME

136. Raam Punjabi, 68

Multivision Plus

Entertainment

137. Purnomo Prawiro, 64

Blue Bird

Transportation

138. Marimutu Maniwanen, 56

Busana Apparel Group

Textiles

139. A Siang Rusli, 49

Kurnia Tetap Mulia

Entertainment, property

140. Boedi Mranata, 59

Adipurna Mranata Jaya

Bird’s nest, food and beverage

141. Mintardjo Halim, 56

Sandratex

Textiles

142. Ishak Charlie, 57

Kurnia Tetap Mulia

Hotels, palm oil

143. GS Margono, 71

Gapura Prima

Property

144. Usman Admajaya, 66

Investment company

Investment

145. Widarto, 66

Sungai Budi Group

Agribusiness

146. G Lukman Pudjiadi, 54

Jayakarta Group

Property, hotels

147. Atang Latief, 85

Group Atang Latief

Investment

148. Supramu Santosa, 63

Supreme Energy

Energy, geothermal

149. Rahmat M Suryahusada, 67

Bank Bumi Artha

Banking

150. Awong Hidjaja, 60

Panasia Group

Textiles, banking

NETWORTH

$92

million

$91

million

$90.5

million

$90

million

$90

million

$90

million

$88

million

$87

million

$86

million

$86

million

$85

million

$83

million

$83

million

$76

million

$70

million

GlobeAsia

2010

Rich list

Networth

#123

$91 million

#135

$85 million

#125

$90 million

#130

$88 million

#133

$85 million

#117

$92 million

#124

$90 million

#137

$83 million

#138

$84 million

#139

$82 million

#140

$82 million

#136

$84.6 million

#141

$80 million

#145

$71 million

#146

$69 million