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 noted that 150 Richest Indonesians with 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)
