Indonesia's Top 10 Richest People: From Old Money to Newcomers
Jakarta, CNBC Indonesia - With the rapid advancement of technology, changes in the business sector are becoming increasingly evident, including in the list of the richest people. If previously the list of the richest was dominated by the mining and food sectors, now the technology sector is starting to emerge.
The changes in the list of the richest are evolving and supported by a combination of market, business, and personal factors. The majority of the conglomerates’ wealth comes from shares in companies they own. When share prices rise sharply, the valuation of wealth also surges, and conversely, when shares plummet, positions on the list can drop.
Expansion into new sectors, product innovation, or increased demand can drive profits and company valuations. Conversely, declining performance, scandals, or technological disruptions can slash company values.
Selling portions of shares, mergers, acquisitions, or large asset purchases can also completely alter wealth. Inheritance and family estate divisions also influence positions on the list.
Wealth lists are usually calculated in US dollars. The weakening or strengthening of the rupiah against the dollar can affect the value of wealth when converted.
The emergence of new faces on the list of conglomerates typically includes entrepreneurs who suddenly surge due to company IPOs, booms in new industries such as technology or renewable energy, or spikes in commodity prices. When they enter the list, the positions of some old conglomerates are automatically displaced.
In 2025, the Hartono duo still leads as Indonesia’s richest, consisting of the net worth of Robert Budi Hartono and Michael Hartono, owners of Djarum Group and Bank BCA.
About a month ago, on 19 March 2026, Michael Hartono passed away at the age of 86. He breathed his last in Singapore. Michael Hartono left a long legacy in the history of industry and business in Indonesia.
In second place is the renewable energy entrepreneur Prajogo Pangestu, followed in third by the Sinar Mas Group businessman, the Widjaja Family.
The fourth position is occupied by energy industry entrepreneur Low Tuck Kwong. And the fifth position is held by Indofood owner Anthony Salim.
However, there are some conditions that are calculated differently. If the Hartono duo’s wealth is combined, the Djarum Group owners remain Indonesia’s richest, with Robert Budi Hartono’s wealth at US$22.4 billion and Michael Hartono at US$21.5 billion.
If separated, Prajogo Pangestu remains number one on Indonesia’s richest list with a net worth of US$39.8 billion. Followed by Widjaja at US$28.3 billion.
Interestingly, there are two new figures who have successfully displaced the old Indonesian conglomerates’ list. The first new figure is the owner of PT DCI Indonesia Tbk (DCII), Otto Toto Sugiri, who has entered the top 10 richest in Indonesia with a net worth of US$11.3 billion in 2025.
The other new figure is Marina Budiman, who has entered the top 10 richest in Indonesia with a net worth of US$8.2 billion. Marina Budiman is one of the founders of PT DCI Indonesia Tbk (DCII); she has successfully built a data centre business that is now a major player in this industry.