Indonesia's Cooking Oil Conglomerates: Who's the Richest?

Economics & Macro

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Cindy Mutia Annur 12/03/2022 10:10 WIB

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The Widjaya family is Indonesia's wealthiest palm oil conglomerate. Their total wealth amounts to US$9.7 billion, according to Forbes.

The Net Worth of Indonesian Palm Oil Entrepreneurs (Forbes, 2021)

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Indonesia's Cooking Oil Conglomerates: Who's the Richest?

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The Net Worth of Indonesian Palm Oil Entrepreneurs (Forbes, 2021)

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Indonesia is the world's largest producer of crude palm oil (CPO). Therefore, it's not surprising that many of Indonesia's richest people come from this sector.

Based on various sources compiled by *Katadata.co.id*, who are Indonesia's oil tycoon conglomerates? And how large are their fortunes?

1. Widjaya Family – US$9.7 billion

The Widjaya family was the second richest on Forbes' "50 Richest People in Indonesia" list in 2021. Through Sinar Mas Group, this conglomerate family is the largest producer of cooking oil in Indonesia, namely Filma.

Forbes estimates the Widjaya family's wealth at US$9.7 billion. This is equivalent to Rp 138.71 trillion (US$1 = Rp 14,301).

2. Anthony Salim – US$8.5 billion

Anthony Salim is the owner of Indofood. Through Indofood Agri Resources Ltd., he owns cooking oil brands such as Bimoli, Delima, and Happy. According to Forbes, his wealth amounts to US$8.5 billion (Rp 121.55 trillion).

3. Bachtiar Karim – US$3.5 billion

Bachtiar Karim owns Musim Mas Group, which has the largest palm oil business in Indonesia. His company produces several cooking oil brands, including Sanco, Amago, and Voila. According to Forbes, his total wealth reaches US$3.5 billion (Rp 50.05 trillion).

4. Martua Sitorus – US$2.85 billion

Martua Sitorus owns Wilmar, one of whose products is cooking oil. In Indonesia, Wilmar produces several cooking oil brands, including Fortune and Sania. According to Forbes, Martua's wealth amounts to US$2.9 billion (Rp 41.47 trillion).

5. Sukanto Tanoto – US$2.1 billion

Sukanto Tanoto is the owner and founder of Royal Golden Eagle International (RGEI) and has businesses in the palm oil industry. Through Asian Agri and Apical, Sukanto produces cooking oil under the Camar brand. According to Forbes, his wealth reaches US$2.3 trillion (Rp 32.89 trillion).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."