Page 77 - Forbes - Asia (December 2019 - January 2020)

THE LIST
BOENJAMIN SETIAWAN:
SHOT IN THE ARM
1.
Boenjamin Setiawan’s fortune rose 36% to R. BUDI & MICHAEL
$4.35 billion, making him one of the biggest HARTONO
gainers on this year’s list. Shares in his hospi- $37.3 BILLION S
tal operator Mitra Keluarga Karyasehat, his BANK CENTRAL ASIA
second largest holding, have roughly doubled AGES: 79, 80
in the past 12 months after it acquired seven
Indonesian hospitals, bringing to 28 the num-
ber of hospitals it operates across the country. 2.
Setiawan, known by his nickname WIDJAJA FAMILY
Dr. Boen, traces his wealth to Kalbe Farma, $9.6 BILLION Ì
which he started from his garage in 1966 and SINAR MAS
which has become the country’s largest local
pharmaceutical company. Shares of Kalbe
Farma, meanwhile, are little changed in the 3.
past year. PRAJOGO
Setiawan started Mitra Keluarga Karya- PANGESTU
sehat with his siblings in 1993. Seven years $7.6 BILLION S
ago, he invested 200 billion rupiah (equiva- BARITO PACIFIC
lent then to $21 million) to build an oncology AGE: 75
facility in Jakarta producing high value-added
drugs. Setiawan’s primary interest, however, 4.
lies in stem cell research. In 2006, he founded SUSILO
the Stem Cell and Cancer Institute in Jakarta WONOWIDJOJO
and is now working to treat patients with
stem cells that can be mass-produced from $6.6 BILLION T
young, healthy individuals. —Ulisari Eslita GUDANG GARAM
AGE: 63

CIPUTRA FAMILY: 5.
Ciputra SRI PRAKASH
MASTER BUILDERS
LOHIA
$5.6 BILLION T
Ciputra, one of Indonesia’s biggest property
tycoons, passed away in late November at the INDORAMA GROUP
age of 88. He overcame early hardships to build AGE: 67
his flagship company, Ciputra Development,
into one of Indonesia’s largest listed property 6.
firms, with a total market capitalization over ANTHONI SALIM
$1 billion. The $1.3 billion fortune he left behind $5.5 BILLION S
is now listed under his family (No. 25). SALIM GROUP
Ciputra (who like many Indonesians had one AGE: 70
name) originally worked as an architect, then
switched to property development so he could
AHMAD ZAMRONI/HKV/FORBES INDONESIA; COURTESY OF CIPUTRA
create his own designs. His big break come in 7.
1966 when he partnered with the government to TAHIR
build a large recreational area in north Jakarta. $4.8 BILLION S
He was also among a handful of Indonesian ty- MAYAPADA GROUP
coons who were successful outside the country, AGE: 67
with major property developments in Cambodia,
China and Vietnam.
He had two personal passions: one was pro- 8.
BOENJAMIN
moting entrepreneurship—founding a school to
teach it and writing books on the subject. SETIAWAN
The second was art. He built one of the coun- $4.35 BILLION S
try’s largest collections of works by Indonesian KALBE FARMA
artists, especially by Hendra Gunawan. In 2012, AGE: 86
his collection was valued at $35 million. His two
sons and two daughters, who have long been
active in the family businesses, will continue SUP TDOWN WXFLAT
ÌNEW TO LIST 3RETURNEE
running the Ciputra group. —Ulisari Eslita

DECEMBER 2019 / JANUARY 2020 FORBES ASIA | 73