CEO of a Digital Company (Unicorn) Enters Indonesia's Richest People List

Bank Indonesia's Jakarta office reported that the capital city's economy grew by 6.22% in 2017, compared to 5.88% the previous year. The Jakarta Regional Gross Domestic Product (RGDP) last year, measured at current prices, reached Rp 2,410.37 trillion, with a per capita RGDP of Rp 232.34 million/year. This economic growth was partly driven by the proliferation of digital companies based in Jakarta. Several digital startups have become unicorns (receiving funding exceeding US$1 billion), such as Traveloka, Bukalapak, Go-Jek, and Tokopedia.

Changes in Indonesian consumer behavior align with the growth of digital-based startups, in the sectors of goods and services trade (e-commerce), payment methods, and financing. In 2017, the number of internet users shopping online reached 24.73 million people. This growth made the digital sector a favorite among investors in 2018.

The Indonesian Investment Coordinating Board (BKPM) recorded investment in the e-commerce sector in 2017 exceeding US$5 billion. This makes the e-commerce sector currently the most strategically important economic sector. The influx of investment into Indonesian unicorns has added to the wealth of their owners. Four of these unicorn owners—Ferry Unardi, William Tanuwijaya, Achmad Zaky, and Nadiem Makarim—are included in Globe Asia's list of the 150 richest Indonesians in 2018, with net worths exceeding US$100 million.