Jakarta, CNBC Indonesia \u2014 Several names on the list of Indonesia\u2019s\nrichest individuals are known to have accumulated their wealth from the\ncoal mining sector, despite the commodity\u2019s price facing pressure in the\nglobal market throughout 2024.<\/p>\n
In early December trading, global coal prices were recorded as\nweakening amid a surge in production in India, which rose nearly 10% in\nNovember 2024.<\/p>\n
Meanwhile, Barchart data shows the Newcastle benchmark coal price for\nthe January 2025 contract at US$136 per tonne on Monday (2\/12\/2024),\ndown 2.1% from the previous trade.<\/p>\n
At the same time, several conglomerates remain among the world\u2019s\nrichest due to their coal businesses. Here is the complete list:<\/p>\n
Low Tuck Kwong<\/p>\n
He is the owner of PT Bayan Resources, which operates in the coal\nmining sector. It is even recorded as the coal company with the largest\nmarket capitalisation on the domestic exchange.<\/p>\n
Low Tuck Kwong can be said to be the king of coal in Indonesia. The\nentire wealth of this 77-year-old man comes from that commodity.<\/p>\n
Last year, Forbes placed Low in the 4th position among Indonesia\u2019s\nrichest with wealth of US$24.9 billion.<\/p>\n
Widjaja Family<\/p>\n
The family of the late Eka Tjipta Widjaja is known as one of the\nconglomerates from the New Order era. They control Sinar Mas Group,\nwhich also owns PT Dian Swastika Sentosa Tbk (DSSA), operating in energy\nand infrastructure.<\/p>\n
Golden Energy and Resources Ltd.\u00a0(GEAR), a subsidiary of DSSA, has\nmines in Australia and acquired assets from Stanmore Coal. Another\nsubsidiary, PT Golden Energy Mines Tbk (GEMS), is also known as a coal\ncontributor.<\/p>\n
The Widjaja family is recorded as having wealth of US$28.3 billion at\nthe end of 2025 according to Forbes and sits as the 3rd richest in the\ncountry. Although they have more wealth than Low Tuck Kwong, it should\nbe noted that the Sinar Mas family\u2019s wealth sources are diversified,\nranging from property, finance, paper, health, to\ntelecommunications.<\/p>\n
Garibaldi Thohir<\/p>\n
Garibaldi is the owner of the issuer PT Alamtri Resources Indonesia\nTbk (ADRO). Before the spin-off, ADRO was known as a coal company. Now,\nthe coal business is focused on its subsidiary PT Adaro Andalan\nIndonesia Tbk (AADI).<\/p>\n
Forbes reports that the wealth of Erick Thohir\u2019s brother is the 19th\nhighest in Indonesia with a total of US$3.8 billion (Rp 64.2 trillion)\nlast year.<\/p>\n
Kiki Barki<\/p>\n
Kiki Barki is the founder of PT Harum Energy (HRUM), a coal mining\nissuer established in 1995. In addition, there is his privately owned\ncoal mine, Tanito Harum.<\/p>\n
Kiki\u2019s eldest son, Lawrence Barki, serves as president commissioner\nof Harum. His youngest son holds the position of president\ncommissioner.<\/p>\n
Forbes in 2024 recorded Kiki Barki\u2019s wealth at US$1.3 billion (Rp\n21.9 trillion). In 2025, Kiki Barki no longer appears in the list of\nIndonesia\u2019s 50 richest people.<\/p>\n
Edwin Soeryadjaya<\/p>\n
Edwin\u2019s father, Tjia Han Poen, is known to have started his business\nbuilding Astra when the Indonesia-Netherlands war subsided. Decades\nlater, Edwin and Sandiaga Uno founded the financial company PT Saratoga\nInvestama Sedaya Tbk (SRTG).<\/p>\n
In the 2000s, coal mining boomed in the country. Edwin entered this\nbusiness sometime later and was involved in establishing the coal\ncompany Pama Persada.<\/p>\n
In 2025, Forbes recorded his wealth at US$1.2 billion (Rp 20.2\ntrillion) and placed him as the 45th richest person.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/five-individuals-dominate-indonesias-coal-sector-wealth-not-diminished-1774781482", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }