Page 78 - Forbes - Asia (December 2019 - January 2020)

Indonesia’s 50 Richest

THE LIST WIDJAJA FAMILY dium bicarbonate, which later
Solid Legacy became Sinar Mas’ first paper
company, Tjiwi Kimia. The
9. same year he expanded into
CHAIRUL TANJUNG
$3.6 BILLION S EKA TJIPTA WIDJAJA, real estate with Duta Pertiwi,
CT CORP founder of Indonesia’s Sinar whose subsidiary Bumi Serpong
AGE: 57 Mas, passed away in January at Damai is now one of Indonesia’s
98, leaving behind a solid family largest property companies by mar-
10. business that has survived economic tur- ket capitalization.
JOGI HENDRA moil to thrive. Sinar Mas is now one of the Widjaja first appeared on the Billionaires
ATMADJA largest business groups in Indonesia, with list in 1991, one of only three Indonesian
$3 BILLION T interests at home and abroad in agribusiness, billionaires on the list at the time, and was
MAYORA INDAH food, communications, tech, financial ser- the longest surviving member of that trio
AGE: 73
vices, healthcare, mining, energy, property, (the other two were Liem Sioe Liong and
paper and more. The group’s Asia Pulp and William Soeryadjaya).
11. Paper (APP), for example, has manufactur- Sinar Mas’ expansion over the years was
BACHTIAR KARIM ing operations across Indonesia and China interrupted only by the Asian financial crisis
$2.6 BILLION S
MUSIM MAS and sells its products in more than 120 coun- in 1998, when it took a big hit. In 1999,
AGE: 62 tries on six continents. group debts stood at $13.5 billion, forcing
Widjaja, born in Quanzhou, China as Widjaja to hand over its Bank Internasional

12. Oei Ek Tjhong, moved to Indonesia with his Indonesia to the government. The debt
MOCHTAR RIADY family as a child and started Sinar Mas in default of its APP paper unit was also one of
$2.1 BILLION T 1938 as a 15-year-old living in Makassar. the largest of the crisis. To recover, Widjaja
LIPPO GROUP In 1972, he set up a factory to produce so- paid down debt and expanded into mining
AGE: 90

13.
MARTUA SITORUS
$2 BILLION S
KPN CORPORATION
AGE: 59

14.
PUTERA SAMPOERNA OEI HONG SUKMAWATI FRANKLE DJAFAR
$1.8 BILLION S LEONG WIDJAJA WIDJAJA
SAMPOERNA STRATEGIC
AGE: 72 AGE 71 69 63

OCCUPATION Chairman, Chip Lian Chairwoman, CEO and executive
15.
KUNCORO WIBOWO Investments Top Global chairman, Bund Center
$1.7 BILLION S Investment
ACE HARDWARE INDONESIA CHILDREN • Oei Ley Elizabeth • Fifi Julia Maeloa • Deborah Widjaja
AGE: 63 (daughter) (daughter) (daughter)

• Oei Ting Theresa • Hano Maeloa (son) • Joshua Wijaya (son)
16. (daughter) • Mimi Yuliana Maeloa • Shierley Widjaja
PETER SONDAKH • Oei Yin Alice (daughter) (daughter) (daughter)
$1.65 BILLION T • Oei Zhong Yuen Patricia
RAJAWALI CORPORA (daughter)
AGE: 69
ASCENDING Of Widjaja’s children, seven are business leaders in their own
17. right, with their children following in their grandfather’s footsteps.
GARIBALDI THOHIR DESCENDANTS Widjaja’s four oldest sons oversee the empire he built, while the
$1.6 BILLION T
ADARO ENERGY others have built businesses of their own.
AGE: 54

74 | FORBES ASIA DECEMBER 2019 / JANUARY 2020