Man Lives in Poverty After Discovering Rp36 Trillion Diamond Hoard in South Kalimantan
Jakarta, CNBC Indonesia — Hoping to achieve good fortune after discovering a diamond hoard, the experience of Mat Sam, a diamond digger, proved the opposite. He received no benefit whatsoever from his discovery of the large diamond.
The diamond discovery occurred on 26 August 1965. Mat Sam and four colleagues were working when they found the object.
It turned out the diamond was the largest in history, weighing 166.75 carats. “Its value is estimated at no less than tens of billions of rupiah, as this diamond is only slightly smaller than the ‘Kohinoor’ (the famous Indian diamond) that adorns the crown of the British Royal Family,” wrote the Pikiran Rakjat daily newspaper (31 August 1965).
Everyone assumed he would become wealthy after discovering such a treasure. However, this did not happen because the government confiscated the diamond.
The Armed Forces newspaper (11 September 1967) reported that it was secured by Pancatunggal, Banjar Regency and brought to Jakarta to be presented to President Sukarno. This process contradicted the wishes of the discoverers.
According to a Pikiran Rakjat report (31 August 1965), the diamond would be used to develop South Kalimantan and purchase mining technology to increase diamond production.
Mat Sam and his four colleagues would be given free hajj pilgrimage as a reward. Clearly, this news made Mat Sam happy.
However, the reward never arrived. Two years later, they spoke out and pleaded for justice, demanding the government fulfil its promise.
According to Kompas (11 September 1967), the discoverers’ lives were extremely difficult and suffering.
“[…] The first discoverer/owner who is now living in destitution and has never experienced the true benefits from this discovery,” wrote Kompas.
For reference, the 166.75-carat diamond was valued at Rp3.5 billion, equivalent to approximately US$248,000. The Nusantara daily (15 August 1967) reported that gold prices in 1967 were Rp230 per gram.
This means Rp3.5 billion could purchase 15,217,315 grams of gold, and when converted to current values using 2026 prices, the 166.75-carat diamond would be worth approximately Rp36.52 trillion.
With such a substantial value, Mat Sam sought justice, as he could have ceased living in poverty and become a wealthy man. His plea was also conveyed through legal counsel to the Ampera Cabinet Presidium, General Suharto.
Unfortunately, the justice he sought was never documented. There are no further historical records regarding this matter.