Indonesia’s ultra rich got richer in 2014 – Forbes

JAKARTA, Indonesia – Indonesia’s economic growth slowed to its lowest rate in 5 years and the rupiah declined massively over the past year. But Indonesia’s ultra rich still managed to get a little bit richer, according to Forbes Magazine’s latest rich list.

As of December 2014, Forbes estimated the 10 richest Indonesians to be worth $55.5 billion, up from $51.8 billion last year. The top 10’s net worth is already more than half the $102 billion total wealth of the entire top 50 for 2014, up from $95 billion last year.

And yes, the 10 richest Indonesians last year are still the same 10 richest Indonesians this year. Their positions just changed a bit, but the brothers Robert Budi Hartono and Michael Hartono, who own Bank Central Asia and the Djarum Group, still reign on top with $16.5 billion (for the 6th straight year).

The biggest gainer in the top 10 is from another tobacco empire: Susilo Wonowidjojo and family, who own Gudang Garam, saw their fortunes increase from $5.3 billion last year to $8 billion this year, pushing them up the list from number 4 to number 2.

Making an appearance in the list for the first time in the top 50 is Purnomo Prawiro of the Blue Bird group, who’s at number 25 with $1.3 billion. Blue Bird raised about $200 million from its IPO in November.

Indonesia’s youngest billionaire is 38-year-old Ciliandra Fangiono, who’s number 22 on the list with $1.5 billion. The Cambridge-educated former investment banker heads First Resources, a company founded by his father that is now one of the largest palm oil producers in the country.

And at number 29 is Indonesia’s richest woman, 84-year-old Kartini Muljadi, a practicing attorney and a former judge, whose son Handojo Muljadi runs medicine maker Tempo Scan Pacific. – Rappler.com