Indonesia, known for its abundant resources, faced the repercussions of dwindling exports, causing a slight 1.5% downturn in its benchmark index since the last assessment of economic standings. However, amidst this downturn, a surge of new listings, particularly in the energy and mining sectors, sparked a financial windfall. This surge catapulted the collective wealth of the country's elite to an unprecedented high, reaching a staggering $252 billion—a remarkable 40% surge from the previous year's $180 billion. Consequently, half of the tycoons on the list find themselves even wealthier than they were a year ago.
Despite a modest increase to $48 billion in their combined wealth, the Hartono brothers, R. Budi and Michael, have managed to retain their coveted top position on the wealth list. Their steady hold on the number one spot speaks volumes about their enduring financial prowess amidst the fluctuations within the economic landscape.
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List Of Top 10 Richest People In Indonesia 2023
The standout leap in wealth this year was orchestrated by Prajogo Pangestu, a magnate in the petrochemicals and energy sectors, making him the most significant gainer in both dollar and percentage terms. Experiencing an extraordinary surge, his net worth skyrocketed more than eightfold, reaching a commanding $43.7 billion compared to $5.1 billion just a year ago. This remarkable ascent propelled him five places up the rankings to secure the second position, a milestone he achieved for the first time.
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Pangestu's financial triumph can be attributed to the strategic listing of two of his companies—Barito Renewables Energy, a geothermal energy producer, and Petrindo Jaya Kreasi, a coal mining entity. These ventures not only marked a lucrative turning point for Pangestu but also underscored the dynamic nature of the industries he operates, positioning him as a formidable player in the global economic landscape. Here is the list:
| RANK | NAME | NET WORTH | INDUSTRY |
| 1 | R. Budi & Michael Hartono | $48 B | Diversified |
| 2 | Prajogo Pangestu | $43.7 B | Diversified |
| 3 | Low Tuck Kwong | $27.2 B | Energy |
| 4 | Widjaja family | $10.8 B | Diversified |
| 5 | Anthoni Salim & family | $10.3 B | Diversified |
| 6 | Sri Prakash Lohia | $8.5 B | Manufacturing |
| 7 | Chairul Tanjung | $5.7 B | Diversified |
| 8 | Agoes Projosasmito | $5.4 B | Metals & Mining |
| 9 | Lim Hariyanto Wijaya Sarwono | $4.8 B | Metals & Mining |
| 10 | Dewi Kam | $4.45 B | Energy |
Mining tycoon Low Tuck Kwong, whose wealth is primarily derived from the lucrative mining sector, witnessed an impressive surge in his fortune, more than doubling it to reach $27.2 billion.
This substantial increase was propelled by the success of Bayan Resources, the third-largest coal producer in the country, which experienced a boost in sales. Despite this remarkable financial growth, Low Tuck Kwong slipped to the third position on the list, overshadowed by the meteoric gains of Prajogo Pangestu.
The compilation of this list by Forbes, relied on comprehensive data sources, including shareholding and financial information obtained from families and individuals, stock exchanges, annual reports, and analysts. Both individual and family fortunes, including those shared among relatives, were considered. For private companies, valuation was based on comparable publicly traded entities, while public fortunes were calculated using stock prices and exchange rates as of Nov. 17. Adjustments may have been made for thinly traded stocks or those with a low public float, ensuring accuracy in the assessment of wealth.
Note: This list will only include the top 10 richest people in Indonesia.
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