Net worth increases 10 times in one year… Who is the ‘energy tycoon’ selected as Indonesia’s richest person?

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According to Forbes, Frazogo, chairman of Pangestu Barito Pacific, ranks 24th in the world’s richest people.
Net assets this year are approximately 71 trillion won… Last year, it recorded $5.3 billion, the effect of listing two companies.

Prazogo Pangestu Barito Pacific Chairman Prazogo (79), a magnate in the Indonesian petrochemical and energy industry, ranked first among the local wealthiest people.

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According to Forbes’ real-time billionaire ranking on the 11th (local time), Pangestu Chairman Prazogo ranked first among Indonesia’s richest people and 24th among the world’s richest people, with a net worth of $54.1 billion (about 71.3 trillion won).

Last year, his net worth was about $5.3 billion, but this year it reached $54.1 billion, more than 10 times more.

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It is reported that two companies he owns were listed this year, and his wealth has surged. Chairman Pangestu listed coal mining company Petrindo Jaya Creasi in March of this year, and six months later, in October, he listed geothermal energy producer Barito Renewable Energy.

Also, in March last year, Pangestu acquired a 33% stake from Thai energy company BCPG for $440 million (approximately 580 billion won) through a family company and took control of Star Energy, a thermal energy producer.

Pangestu started the lumber business in the late 1970s by founding Barito Pacific Timber. The company was listed in 1993 and changed its name to Barito Pacific in 2007 after downsizing its lumber business. That year, Barito Pacific acquired a 70% stake in the petrochemical company Chandraasri.

In 2011, Chandraasri merged with Tripolyta Indonesia to become Indonesia’s largest petrochemical producer.

Following Chairman Pangestu, the second richest person in Indonesia is Singapore-born Low Chin Kwong (75), founder of coal mining company Bayan Resources and known as the coal king. He recorded a net worth of $26.9 billion (approximately 35.5 trillion won) and ranked 58th in the world’s richest people rankings on the 11th.

Brothers Robert Budi Hartono (82) and Michael Hartono (84), who run Indonesia’s leading tobacco company Djarum and acquired BCA Bank’s shares and became majority shareholders, are worth $24.3 billion (about 32 trillion won) and $23.3 billion (about 30 trillion won), respectively. trillion won), ranking 3rd and 4th in Indonesia’s net worth. On the 11th, he ranked 67th and 72nd in the world’s wealth ranking.

Source: Donga

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