Forbes released its latest list of the 50 richest people in Indonesia in 2023. The Hartono brothers, Robert Budi Hartono and Michael Bambang Hartono, topped the list.
The combined wealth of the Hartono brothers increased by US$300 million this year, reaching a total of US$48 billion, or approximately Rp744 trillion (assuming an exchange rate of US$1 = Rp15,500).
Below them is Prajogo Pangestu, whose wealth increased more than eightfold this year to US$43.7 billion.
This surge in wealth propelled Prajogo up five places in the list of Indonesia's richest people.
According to Forbes, Prajogo benefited greatly from two of his companies that went public this year—the geothermal energy producer Barito Renewables Energy and the coal mining company Petrindo Jaya Kreasi.
With Prajogo's rise in ranking, mining conglomerate Low Tuck Kwong dropped to third place. He doubled his wealth to US$27.2 billion thanks to increased coal sales from his company, Bayan Resources.
Fourth place went to the Widjaja family of Sinar Mas, whose net worth remained unchanged from last year at US$10.8 billion.
Fifth place went to Anthoni Salim of Salim Group, whose net worth increased by US$2.8 billion this year to US$10.3 billion.
This surge in wealth was largely due to his shares in the copper and gold mining company Amman Mineral Internasional, which was listed on the Indonesia Stock Exchange (IDX) starting in July 2023.
Meanwhile, in tenth place is Dewi Kam with a wealth of US$4.45 billion. She is the only woman on this year's list of Indonesia's richest people.
Most of Dewi Kam's wealth comes from a minority stake in the coal mining company Bayan Resources.
Here is the complete list of the top 10 richest people in Indonesia according to Forbes in 2023:
1. Robert Budi Hartono and Michael Bambang Hartono: US$48 billion
2. Prajogo Pangestu: US$43.7 billion
3. Low Tuck Kwong: US$27.2 billion
4. Widjaja Family: US$10.8 billion
5. Anthoni Salim Family: US$10.3 billion
6. Sri Prakash Lohia: US$8.5 billion
7. Chairul Tanjung: US$5.7 billion
8. Agoes Projosasmito: US$5.4 billion
9. Lim Hariyanto Wijaya Sarwana: US$4.8 billion
10. Dewi Kam: US$4.45 billion