Jakarta. Prajogo Pangestu has once again topped the list of Indonesia’s richest individuals, maintaining his lead throughout 2025, according to the latest Forbes Real-Time Billionaires ranking released in early December. With a net worth of $42.3 billion (Rp 700 trillion), the Barito Pacific founder has held the No. 1 spot since January.

Prajogo, who began his career in the timber industry in the late 1970s, expanded his business empire significantly after listing Barito Pacific Timber in 1993. The group shifted its focus after reducing its timber portfolio in 2007, rebranding as Barito Pacific and acquiring a majority stake in petrochemical producer Chandra Asri. The company has continued to grow its petrochemical footprint, culminating in the listing of Chandra Daya Investasi on the Indonesia Stock Exchange earlier this year.

In the past decade, Prajogo has expanded aggressively into energy, taking coal miner Petrindo Jaya Kreasi public in 2023 and following it with the IPO of renewable energy firm Barito Renewables Energy.

Sitting in second place is coal tycoon Low Tuck Kwong, with a net worth of $24.9 billion. The founder of Bayan Resources also controls Singapore-based renewable energy company Metis Energy and has stakes in The Farrer Park Company and Samindo Resources. Low, who moved to Indonesia in 1972, began his career in construction before building one of the country’s most influential mining groups. In 2024, he transferred part of his ownership in Bayan Resources to his daughter, Elaine, as part of a succession plan.

Long-time banking and tobacco magnates R. Budi Hartono and his brother Michael Hartono follow in third and fourth place, with net worths of US$21.1 billion and US$20.3 billion, respectively. The siblings are best known for their controlling stake in Bank Central Asia, acquired after the Asian financial crisis. The Hartono family also made waves in 2022 when they took e-commerce firm Blibli public in one of Indonesia’s biggest IPOs of the year.
 

In fifth place is Otto Toto Sugiri, valued at $11.1 billion. Widely considered one of Indonesia’s tech pioneers, Sugiri founded data center operator DCI Indonesia in 2011. The company has grown into one of the country’s largest data infrastructure providers, debuting on the stock exchange in 2021. Sugiri previously founded IT firm Sigma Cipta Caraka,later acquired by Telkom Indonesia, and co-founded Indonet, the country’s first internet service provider.

Tahir and family rank sixth with $10.5 billion. Through Mayapada Group, Tahir oversees a diversified portfolio spanning banking, healthcare, media and property, with significant assets in Indonesia and Singapore.

Impack Pratama Industri CEO Haryanto Tjiptodihardjo takes seventh place at $8.6 billion. His company is Indonesia’s largest polymer-based roofing producer and has expanded operations across Australia, Malaysia, New Zealand and Vietnam.

Marina Budiman, co-founder and president commissioner of DCI Indonesia, is ranked eighth with a net worth of $8 billion. Her career in technology began in the 1980s, and alongside Sugiri, she also co-founded Indonet before selling her stake in 2023.

Sharing the same valuation, industrial magnate Sri Prakash Lohia comes in ninth with $8 billion. Lohia built his wealth through Indorama Corp, which began as a yarn-spinning operation before evolving into a global industrial materials powerhouse.
 

Rounding out the top 10 is Hermanto Tanoko, with an estimated net worth of US$6 billion. Tanoko controls paint manufacturer Avia Avian, which debuted on the stock exchange in 2021, and oversees Tancorp, a conglomerate with interests spanning manufacturing, retail, logistics and property. His lightweight brick producer, Superior Prima Sukses, went public in July 2024 at a valuation of around US$100 million.

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