RI’s Youngest Conglomerate, Has IDR 33 T in Assets

Jakarta, CNBC Indonesia – Success is the dream of many people. Especially if success can be achieved at a young age. Quoting Forbes data, there are 6 out of the 50 richest Indonesian entrepreneurs who are under the age of 60.

From a row of conglomerates in Indonesia, there is one person who is 47 years old and has assets worth IDR 33.34 trillion. In addition, there are also those who are already 50 years old with assets of IDR 15.91 trillion.

CNBC Indonesia summarizes 6 people who are under 60 years old from the list of the 50 richest people in Indonesia according to Forbes, along with their notes:

1. Ciliandra Fangiono and Family

Palm oil businessman Ciliandra Fangiono and Family is now 47 years old and ranked 20th richest person in Indonesia with assets of US$ 2.2 billion.

Ciliandra Fangiono serves as CEO of First Resources, a Singapore-registered palm oil company with plantations throughout Indonesia. His family owns a majority stake in the company, preceded by his father Martias more than two decades ago.

Prior to joining the family business, Ciliandra worked in Merrill Lynch’s investment banking division in Singapore.

He is a Senior Bachelor of Economics and was awarded the PriceWaterhouse Book Prize while at the University of Cambridge.

In 2021 the family declared its oil palm plantation company FAP Agri, which is controlled by Ciliandra’s older sister, Wirastuty.

2. Manoj Punjabis

Film entrepreneur, Manoj Punjabi is now 50 years old and holds the status of the 43rd richest person in Indonesia with assets of US$ 1.05 billion.

Manoj Punjabi, his wife Shania and his parents Dhamoo and Sunita founded MD Media, the pioneering Indonesian-listed film studio company MD Pictures.

The company went public in 2018 through a $19 million IPO.

Chinese technology and entertainment giant Tencent bought a 14.6% stake in October 2021. The wife, now Shania also serves as president commissioner of MD Pictures.

3. Arini Subianto and Family

Mining and palm oil entrepreneur Arini Subianto and Family, who is now 52 years old, is ranked as the 28th richest person in Indonesia with assets of US$ 1.5 billion.

When Indonesian tycoon Benny Subianto died in January 2017, his eldest daughter, Arini, took over the reins of a multi-million dollar empire.

Arini Subianto is the president director of the family holding company, Persada Capital Investama. He oversees Persada’s investments in various fields ranging from wood and palm oil processing products to rubber and coal processing.

Persada’s portfolio includes a minority stake in coal giant Adaro Energy. Arini has been investing in technology startups through Persada since 2017.

4. Garibaldi Thohir

Mining entrepreneur Garibaldi Thohir is now 58 years old and ranks as the 15th richest person in Indonesia who has assets of US$ 3.45 billion.

Garibaldi Thohir is the CEO and key shareholder of Adaro Energy, one of the world’s largest coal exporters.

In 1997, he also founded the motorcycle financing company Wahana Ottomitra Multiartha (WOM Finance). Until now he is still distributing Honda motorcycles.

He is also a shareholder of Indonesian telecommunications operator Hutchison 3, joining Indonesian listed competitor Indosat in January 2022.

His family also operates a restaurant and co-owns a hotel.

5. Jerry Ng

Banker Jerry Ng, who is now 58 years old, is the 35th richest person in Indonesia with assets of US$ 1.2 billion.

Veteran banker Jerry Ng, with over three decades of experience, made his fortune from a stake in Bank Jago. He acquired shares of what was then called Bank Artos in December 2019.

Bank Jago turned itself into a digital bank and wanted to work with small and medium fintech companies.

Ng previously held top positions at Bank Danamon Indonesia and Bank Central Asia. Until February 2019 Ng served as the main director of Bank BTPN.

Indonesian payment and on-demand service application Gojek bought shares in Bank Jago in 2020.

6. Harry Tanoesoedibjo

Media and real estate entrepreneur Harry Tanoesoedibjo, now 58 years old, is the 39th richest person in Indonesia with assets of US$ 1.09 billion.

Hary Tanoesoedibjo started building a media business shortly after college. Until now, he still has more than 60 TV stations, radio stations, and newspapers.

He stepped down as CEO of Media Nusantara Citra (MNC), which owns four national TV stations, in 2016 to focus on politics.

Through his listed company MNC Land, he is building resorts in Bali and Java that will be managed by Donald Trump’s company.

His daughter Angela Herliani Tanoesoedibjo is Deputy Minister of Tourism and Creative Economy of Indonesia.

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(mkh/mkh)