The Wealth of Indonesia's Eight Presidents: Who Is the Richest and the Poorest?
Jakarta — CNBC Indonesia reports that since its founding, Indonesia has been led by eight presidents, from Bapak Proklamator Soekarno to the current President Prabowo Subianto, winner of the 2024 presidential election. Many people wonder, as the nation’s figurehead, how large the wealth is of those who have led or are leading Indonesia. CNBC Indonesia attempts to summarise the wealth of all Indonesian presidents; here are the findings:
- Soekarno
The exact magnitude of Soekarno’s wealth — the first president of Indonesia and nicknamed ‘Bapak Proklamator’ — is not known. If we refer to a report in an Austrian newspaper Kronen Zeitung, issues of 17 and 19 December 2012, it stated that Soekarno’s wealth was recorded at US$180 billion. This wealth is said to be stored in a bunker at the Union Bank of Switzerland (UBS). It should be noted that Kronen Zeitung, the source for this, is one of Austria’s oldest newspapers, published since 2 January 1900.
- Soeharto
A report from the United States Treasury detected transfers of up to US$9 billion to an Austrian bank in 1998, or after Soeharto’s ousting. The money is believed to belong to the second Indonesian president. However, the US$9 billion figure is claimed to be only part of Soeharto’s wealth during his presidency from 1966 to 1998. International financial body Time Warner Inc, meanwhile, says Soeharto’s wealth reached around US$15 billion. The figure includes the US$9 billion transferred from a Swiss bank to an Austrian bank.
To date, there is no official information on the total wealth of President Soeharto.
- B.J. Habibie
Officially, the total wealth of B.J. Habibie, who became Indonesia’s first president in the reform era, remains unknown. However, Asia Far Eastern Economic Review — the largest English-language business publication in Asia and based in Hong Kong — previously reported that Habibie’s wealth reached around US$60 million. Habibie’s wealth stemmed from intellectual property rights over several technological inventions and various technology businesses. Meanwhile, Globe Asia reports that Habibie’s two children Ilham Habibie and Thareq Habibie Ilthabi Rekatama have wealth of US$250 million sourced from several technology companies owned by the Habibie family.
- Abdurrahman Wahid (Gus Dur)
Abdurrahman Wahid, or Gus Dur, had wealth of Rp3.49 billion. This figure comes from the State Officials’ Wealth Report (LHKPN) for 2001. Gus Dur’s wealth derived from land and buildings, transportation, precious metals, securities, and cash and cash equivalents.
- Megawati Soekarnoputri
Megawati is said to have wealth of Rp96.16 billion according to LHKPN in 2014. The daughter of Soekarno owns land and buildings valued at Rp36 billion, transportation Rp1 billion, securities Rp33 billion, and cash and cash equivalents Rp1 billion.
- Susilo Bambang Yudhoyono (SBY)
Based on LHKPN released in 2014, SBY possessed wealth of Rp13.98 billion. The assets include transportation Rp500 million, land and buildings Rp5 billion, and cash and cash equivalents Rp6 billion.
- Joko Widodo (Jokowi)
According to LHKPN 2023, Joko Widodo’s wealth totals Rp95.8 billion. The figure rose from Jokowi’s 2022 LHKPN of Rp82.3 billion. Jokowi is recorded as owning 20 parcels of land and buildings valued at Rp74.1 billion. In addition, the 7th Indonesian president also owns eight vehicles valued at Rp432 million, other movable assets Rp356 million, and cash and cash equivalents Rp20.8 billion.
- Prabowo Subianto
According to LHKPN as of 31 December 2023, Prabowo has wealth of Rp2.04 trillion and no debt. The bulk of the president’s wealth is in securities with a total value Rp1.7 trillion. He is also recorded as owning land and buildings valued at Rp275.3 billion across Jakarta and Bogor, with varying sizes and values. Additionally, Prabowo owns a string of vehicles valued at Rp1.2 billion, including a 1992 Toyota Alphard and a Lexus Jeep valued at Rp400 million, plus six other cars. The former Defence Minister of Indonesia also has other movable assets Rp16.4 billion, securities Rp1.7 trillion, and cash Rp47.8 billion.