Wealth of the 50 Richest People in Indonesia Reach IDR 4.651 T by 2026, Largest Contribution is Extractive Sector

According to a report by the Center for Economic and Law Studies (Celios), the total wealth of the 50 richest people in Indonesia increased almost twofold during the period 2019-2026.

In 2019, the total wealth of these 50 trillionaires reached Rp2.508 trillion, while in 2026 it increased to Rp4.651 trillion, or Rp4.65 quadrillion.

Over the past eight years, the wealth of these 50 richest people has tended to increase, as shown in the graph.

The list of the 50 richest people was compiled by Celios from Forbes data. Among them, the Hartono family is the richest, with a total wealth of around Rp650 trillion.

Followed by Prajogo Pangestu (Rp483 trillion), the Widjaja family (Rp478 trillion), Low Tuck Kwong (Rp341 trillion), Anthony Salim (Rp221 trillion), and the Tahir family (Rp179 trillion).

Celios said that during 2019-2022, the contribution of the energy and extractive sectors to the total wealth of the 50 richest people was 39-46%.

"By 2026, the proportion of the 50 super-rich people's wealth coming from the extractive sector jumped to 57.8%," Celios wrote in "The Republic of Oligarchs: Economic Inequality in Indonesia 2026".

According to Celios, oligarchs continue to accumulate wealth from huge profits. More than half of the wealth of Indonesia's super-rich group comes from activities of exploiting natural resources, such as coal, palm oil, and nickel.

Celios also said that the 50 richest people in Indonesia, who statistically account for 0.000000174% of the population, control the wealth of 18.6% of the Indonesian people.

"Without changes in the economic and political structure, by 2050, the 50 richest people in Indonesia will have a wealth equivalent to that of 111 million Indonesians," said Celios.