90 percent of the 150 richest Indonesians saw their fortunes rise over the past year. This year’s list had 24 billionaires, most of whom built their fortunes on natural resources, particularly palm oil and coal.
For the second year running, Eka Tjipta Widjaja, the powerful patriarch of the Sinar Mas Group, topped the list with a net worth of $12.5 billion. That was $500 million higher than his net worth in 2011. “Sinar Mas owns the world’s fourth-largest pulp and paper company and the fifth-largest palm oil plantation, and in property they have the cash, land banks and expertise to expand aggressively,” said a hedge fund owner
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For the second year running, Eka Tjipta Widjaja, the powerful patriarch of the Sinar Mas Group, topped the list with a net worth of $12.5 billion. That was $500 million higher than his net worth in 2011. “Sinar Mas owns the world’s fourth-largest pulp and paper company and the fifth-largest palm oil plantation, and in property they have the cash, land banks and expertise to expand aggressively,” said a hedge fund owner
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